Principality of Monaco
A gem in the heart of the Riviera
A small but prestigious showcase
Nestled between the Côte d'Azur and northern Italy, Monaco has always been a magnet for millions of visitors each year. The Principality of Monaco covers a little over 2 km2, with a population of around 38,000. Because it is a reduced space, the geographic and demographic dimensions are inversely proportional to its enormous capacity to know how to project a positive image in the world, the Principality, in reality has become a prestigious showcase of exclusive products in the luxury sector.
FOCUS ON THE REAL ESTATE MARKET IN MONACO
It is an attractive market for investors from all over the world and it is in the new that this market has evolved the most according to statistics from the Monegasque Institute of Statistics and Economic Studies (IMSEE). It is no longer rare to see certain programs such as the Tour Odéon and Petite Afrique exceed the 100,000 euros per square meter mark for the most exclusive accommodation.
Luxury properties in Monaco have always been particularly popular for many reasons, including investments that are profitable there.
It is therefore no coincidence that the real estate of the famous principality is particularly active. The Principality's international prestige and the dimensions of its territory make Monaco's property heritage a very tempting market, offering investors many advantages, including the guarantee of economic and political stability and the possibility of personalizing the investments you have in mind. to use a very attractive tax system.
INVESTMENT NEIGHBORHOOD BY NEIGHBORHOOD
Monte-Carlo with its Carré d'Or is the sure bet, it is the most expensive district of the Principality. The Mirabeau, the Métropole or the Monte-Carlo Star on a high floor have sea views and offer high quality services.
The Larvotto, Saint Roman and La Rousse districts are in continuous transformation and see the most numerous real estate projects concentrated there: The Tour Odéon, the sea extension, Testimio II or the Tour des Giroflées. Larvotto is also the only area offering access to the beach and it has two of the most luxurious and popular buildings of the moment, 21 Princess Grace and La Réserve.
On the Rock, patience is essential because apartments for sale are very rare as well as large areas. You can occasionally find a villa or a private mansion there. This district is very popular because it offers the charm of medieval streets and is the most secure in the Principality.
Fontvieille is the family residential district, close to the big shops, the harbor restaurants, the Monaco heliport and the train station. Certain buildings such as the Sea Side Plaza and the Terrasses du Port have helped to give it renewed interest from buyers.
La Condamine is one of the most accessible areas in terms of price per m2, apart from the large buildings on the seafront which attract Anglo-Saxons and Formula 1 enthusiasts a lot. The charm of the typical small and shopping streets attracts children country.
At the Moneghetti and the Exotic Garden we find the most accessible real estate prices. The area benefits from numerous shops, proximity to the hospital and quick access to the highway. The Blue Bird, the Eden Tower, The Ligurians or the Bel Horizon and the Rotunda can offer great shopping opportunities in the heights of Monaco.
THE FUTURE ON THE MONACO SEA
By 2025, the Principality of Monaco will have a new offshore district which will increase its size by 3%, widening the Principality's coastline. The works on this artificial island started on July 26, 2018 and will include 120 luxury apartments as well as 10 huge villas immersed in nature, public green spaces, a park of about one hectare, a promenade that will ensure accessibility for all pedestrians by the sea and a 30-seat marina inspired by Portofino, according to the project planned by the architect Renzo Piano.
This new intervention, strongly desired by Prince Albert II, is the response to the luxury housing crisis of a tax haven that does not have enough land for the 2700 billionaires expected to settle in the Principality during the next decade.
The Principality of Monaco has one of the highest population densities in the world and in 150 years has adapted to its small territorial dimensions, barely two square kilometers. The recent scarcity of properties on the territory led Prince Albert II to promote an expansion plan necessarily at sea.
WHY OWN A PROPERTY IN THE PRINCIPALITY ?
The real estate sector is one of the first beneficiaries of Monaco's popularity and vitality. Owning an apartment not only serves as a status symbol, it also offers practical advantages. Strategic access to France and northern Italy and with a simple helicopter flight you are five minutes from Nice International Airport (the third busiest airport in France), this makes Monaco an interesting residence for the "world trotters". In addition, a domicile in the Principality can allow the owner who settles in Monaco to be close to other influential businessmen from around the world. Also the size of the Principality strongly limits the number of new projects, which reinforces the resilience of property value.
WHY INVEST IN MONACO ?
The Principality of Monaco is considered one of the safest places to invest in real estate. Four fundamental factors favor the potential of the Monegasque real estate market.
1 - Exceptional security of goods and people.
"In Monaco, security must be total", the rule established by Prince Ranieri.
The Monegasque image is even more precious for the security that reigns there. One police officer per hundred inhabitants, a 24-hour video surveillance system throughout the country and in the corridors of most real estate, a system worthy of the best armies in the world, the possibility of blocking all access to the Principality by a few minutes. Without forgetting the internal surveillance teams at the casino and in all the gaming rooms and hotels.
Monegasque security, headed by a senior French police official, is the most modern and efficient police service in Europe. Anything that can harm harmony is prohibited, begging is not allowed, road regulations are applied with particular severity. And the Monegasque courts almost always give their best the heaviest penalties.
Result: delinquency rates that make any interior minister dream.
2 - Mediterranean climate with mild winters and summers without excessive heat.
3 - Destination easily accessible from anywhere in the world thanks to its proximity to Nice Côte d ́Azur International Airport, linked to the Principality by helicopter, and served by more than 100 countries.
4 - Very active socio-cultural environment thanks to which it is possible to be present throughout the year, cultural, sporting and commercial events at international level; the Monaco F1 Grand Prix, the Yacht Show, the Rolex Tennis Masters and the Summer Music Festival at Sporting, etc.
5_ Advantageous Monegasque taxation, has as a general principle the absence of direct taxes including inheritance tax relating to real estate.
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