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Why Live in a Monte Carlo Real Estate?

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Monaco is arguably the haunt of Europe’s elite. In this French-dominated Monegasque state, they enjoy luxurious standards of living unknown to other countries, and get the sort of accommodation and R&R many failed to offer. That’s not to mention the fact that while they are Monaco’s official residents, they are safe from taxes and, thanks to an efficient police force, all sorts of crime.

Now Monaco is divided into four primary municipalities: Monaco-ville, Monte Carlo, La Condamine and Fontvieille. Of these divisions, Monte Carlo is probably the best known, having become synonymous to the principality itself.

What Makes Monte Carlo Popular?

Monte Carlo’s popularity is easily understandable, considering the attractions and events that draws crowds to the municipality. Here’s a sampling.

  • For one, Monte Carlo usually hosts the Circuit de Monaco, the Formula One racetrack wherein the famous Formula One Monaco Grand Prix regularly takes place. The municipality also caters a variety of sports and other entertainment.
  • Everyone loves amusement and Monte Carlo has plenty of it. The quarter’s entertainment complex includes the Les Ballet de Monte Carlo’s office and the Grand Théâtre de Monte Carlo, a major Monaco opera house.
  • Finally, there’s the magnificent Hotel de Paris that was in place since the late 19th century. You won’t miss its imposing, heavily decorated facade.

Own a Monte Carlo Residence

Knowing all this, you might just want to find a place to stay for good in the municipality of Monte Carlo. Don’t just settle for home rentals if you want to enjoy your life in this municipality. Go for the bigger fish, and with that, we mean purchasing a full-fledged real estate property.

However, given the common knowledge that buying a residence, not just in Monte Carlo but the entire Principality of Monaco can be quite expensive, you’ll probably think that the process will also be a difficult one. Well good news: owning a Monte Carlo real estate property is not.

A Quick Overview of Monte Carlo Real Properties

Monaco has a very healthy real estate industry, and this is pretty much reflected upon Monte Carlo. Given the rather small space the city occupies, most residences are of the apartment type. Residences at the first floor of Monte Carlo’s high rises and those in nonstrategic locations are typically the cheapest. Meanwhile, flats with nearby amenities or those that offer great views of the city may cost millions of Euros. Closing costs make these Monte Carlo real estate properties a lot more expensive, thanks to the legal fees attached.

Be a Resident of Monte Carlo and Monaco as a Whole

Note that once you’ve obtained the deed, make sure you stay for at least six months. After your half year stay, you may then obtain your residence status and enjoy a tax free existence within the principality’s borders.

Chill, be entertained, try to break the bank, or simply live in tax-free leisure. Monte Carlo truly does offer a lot of possibilities for those who can afford to stay.

Monaco-ville – A Monaco Travel Hotspot

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If you’re in a Euro-trip, make sure you take time to visit the Principality of Monaco. This city truly is a rare pearl washed ashore on to the southwestern European coast. For its size, the city has quite a lot to offer, from great entertainment to a plethora of beautiful sights.

Monaco is a mix of the old and the new. On one hand, you’ll find age old architecture and a medieval stone fortress. On the other, you’ll see modern high rises that seem to compete with the aesthetics of the older edifices. From this you can judge that the Grimaldi House has done its job well, having introduced modern innovation without necessarily displacing its precedents.

Looking at the Monegasque cityscape, you’ll notice one huge rock that dominates the horizon. This huge hunk of stone is aptly called Le Rocher (The Rock), also known in its more proper name as Monaco-ville. Now Monaco-ville is not the capital of Monaco in any known sense – it is but one of the city’s four traditional divisions, and is not even a full-fledged town given its modern ward status.

From a distance, Monaco-ville looks like an impregnable fortified hill town from the Middle Ages. A closer look reveals a mix of modern and bygone architecture behind the city’s age old walls. Almost obscured in this blend are several important Monaco travel hotspots. Such are the following.

Chapelle de la Misericorde

Literally meaning the “chapel of graciousness”, the Chapelle de la Misericorde ranks among the oldest structures in the entire principality. Having been built in 1639, the chapel is a masterpiece from its elaborately designed interior to its well-maintained façade. The chapel’s highlight comes every Good Friday eve, as it is the starting point of a local, religious procession.

Oceanographic Museum

Inaugurated by Prince Albert I in 1901, the Oceanographic Museum is an impressively artistic architectural work that dominates Monaco-ville’s coastline. The museum houses an aquarium and various skeletal and preserved remains of marine fauna.

Saint Nicholas Cathedral

The Saint Nicholas Cathedral, also known in its long French name as Cathédrale Notre-Dame-Immaculée, is another magnificent building. Consecrated in 1875, the cathedral has since become a resting place for members of the Grimaldi House. It’s most notable features include the white marble Episcopal Throne, the church’s retablo, and the Great Altar. Pontifical services are held in this house of worship during religious festivals.

Palais Princier

Last but not the least is the Palais Princier, the home of the Prince of Monaco himself. This structure, arguably one of the most important Monaco travel destinations, stands out when compared to other European royal residences. The Grimaldi palace, instead of demonstrating pomp and rich aesthetics, is instead built with the protection a castle can offer in mind. In other words the Palais is more like a fortification, owing to its history of having been frequently besieged by other states. The palace has seen much renovation throughout its history, serving as the reflection of the Grimaldis’ increasing power and wealth.

These are but the major attractions in a rather small section of the principality. If you take time to explore the city, you’ll be able to find more of these Monaco travel destinations that can surely satisfy that craving for awe-inspiring sights.

Obtaining a Monaco Real Estate Property and Residency

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Watching the blue harbor opening towards the Mediterranean while sipping that favorite drink from your apartment veranda as the cool breeze blows in your face – this is just a sampling of the good life that awaits those who can afford it in Monaco. Indeed, living in the Monegasque principality is living a life alongside the elite. This means that average standards of living is not for those earning a meager income.

The good thing though, is that residents of Monaco have virtually zero income tax to pay their government. That means that despite the high standards of living, they’re still able to keep their income intact to offset all the extra expenses. To top it off, they’re enjoying a high level of security thanks to Monaco’s ever-present police force.

The idea of settling in the prestigious city state probably has come across your mind more than once. You may have gotten it from those post card pictures, or you probably have seen the Monte Carlo Grand Prix once and wanted to be back for good. In any case, you are likely willing to invest a fortune to avail of a citizenship in Monaco.

If you really desire to live in Monaco, then you have a few things to know about. The first is obtaining a resident status. The next one would be the costs of obtaining a residence. Both are important if you are to stay, and we’ll be tackling these two issues in the next few paragraphs.

Becoming a Resident in Monaco

You don’t necessarily have to be rich to become a citizen of the principality, but you’ll definitely need some money to invest on obtaining that coveted resident status. The first requirement you’ll have to satisfy is to live in the city for at least six months, in your own residence.

You’ll also need the deed of your Monaco real estate property. You’ll have to show residency officials the accompanying bank certificate that shows you’ve made a necessary deposit. This certificate should come from a bank in Monaco, where you should pay a fee of around €400,000.

Acquiring a Monaco Real Property

Of course, you won’t be able to present any deed if you don’t have a residential property of your own. Monaco has a healthily thriving real estate industry, and finding your personal niche in the city state is a breeze. Again, you don’t need to be rich to purchase a Monaco real estate property, but if you wish to live a comfortable life in the city, then you ought to be ready to spend.

Property can be rather expensive, though reasonable in Monaco. Rents, which normally cost a few thousand Euros are the cheapest, but this does not count as actually owning the place. On the other hand, purchasing an apartment – the most common type of residence in Monaco – can cost you some five-digit prices in Euro, per square meter. The cheapest of these can come around €500,000, while higher valued ones can be bought for at least twice the price.

Living in a Monaco real estate property and eventually becoming one of the city’s residents are the two essential steps in obtaining the privileges of the Principality’s regular citizens. Expensive, but worth it nonetheless.

Hotel de Paris: A Grandiose Monte Carlo Hotel

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The Principality of Monaco is one very interesting and attractive place. For a long time, it was and still is one of Europe’s prime entertainment hotspots, a haunt of racing fanatics and those who get their dose of enjoyment from other activities. Recently, Monaco has enjoyed a thriving real estate market, thanks to the many visitors that opted to stay in the city state.

Monte Carlo is the most visited quarter in Monaco. No one familiar with the place will find it any surprising, considering the fact that this tourist resort contains most of Monaco’s attractions. In fact, it is where you’ll find entertainment and leisure in Monaco. Only in Monte Carlo can one see prestigious automobile racing competitions like the Monte Carlo Rally and the Formula One Grand Prix.

The Hotel de Paris

One of the quarter’s major landmarks and attraction is the Hotel de Paris. This Monte Carlo hotel serves as a testimony of Monaco’s wealth, culture, and love of fine aesthetics. Not many other hotels elsewhere gives you a five star at first glance. Indeed, it is a true luxury hotel, and is very deserving of its never-fading spot in the Conde Nast Traveller Gold List.

The hotel was built by the Societe des Bains de Mer (SBM) as part of its effort to develop Monaco. Opened in 1863, the hotel was intended to offer the best and most luxurious accommodation of the time which it certainly did. As of now, the hotel is still owned by the SBM, alongside Hotel Hermitage Monte-Carlo, Monte-Carlo Beach Hotel and Monte Carlo Bay Hotel & Resort.

The Monaco Hotel’s Outward Appearance

Looking at the Hotel de Paris’ facade, you can see just what grand accommodation those who booked into the hotel can expect. The front is just so meticulously detailed, adorned with intricate low-relief sculptures and blessed with over a century old beauty that outshines almost every modern edifice. This classic building truly enhances the beauty and charm of Monte Carlo, and that of Monaco as a whole.

Inside the Hotel

Hotel de Paris has 187 rooms. These rooms are divided into the following categories according to the view and luxury they offer, as well as the decor.

  • Exclusive Rooms – Sea View, as the name suggests, offer an excellent view of the Mediterranean, which includes Monaco’s beautiful marinas.
  • Superior Rooms – Courtyard View gives guests large, luxurious accommodations from which the Monte Carlo hotel’s courtyard can be seen.
  • Exclusive Rooms – City View are suites from which guests can view the magnificent Monegasque cityscape.
  • Exclusive Superior Rooms – Sea View are simply larger versions of the Sea View rooms.

Fine Dining in Hotel de Paris

The Hotel de Paris prides itself as a temple of gastronomy. Internationally renowned restaurants like the Le Louis XV – Alain Ducasse are housed inside the 19th century building. The Monte Carlo hotel also has a wine cellar that offers a huge variety of liquor which makes dinner in the hotel a lot more sumptuous.

If you have the money and would like to tour the world, we suggest that you drop by Monaco. Once there, you should stay in Hotel de Paris and have a once-in-a-lifetime stay.

Monaco Palace: The Dwelling of the Prince

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The Principality of Monaco, like many other major European cities that draw tourists from all over, is a good mix of the old and the new. Stretched in a small, 2.05 km2 area, this independent Monegasque city state sports a contrast between vintage, centuries old structures and stylish modern high rises.

Monaco is divided into ten wards, or a collection of former municipalities. One of the most important, and most famous of these is the Monaco-ville. Perched on what is aptly called Le Rocher or the Rock of Monaco, this district is perhaps the most imposing sight in the Monacan cityscape.

The Palais Princier

Among the mix of old and new architecture perched on the Rock is one that’s very hard to miss. This is the Palais Princier – literally meaning the Prince’s Palace and also known as Monaco Palace – which, as the name suggests, is the residence of the Grimaldi Prince.

The Monaco Palace, contrary to what many would think, is not the seat of Monaco’s government but is merely the Prince of Monaco’s home. Nevertheless, the large edifice serves as the testimony of the wealth and power of the House of Grimaldi for over seven centuries now.

A Brief History of the Prince’s Palace

The Palace started as a Genoese fortress in 1191. It was first captured in 1297 by Francois Grimaldi, who, in the guise of a monk, took the fortress by surprise. The Grimaldi rule was solidified some time after Francois’ death, and fortification was slowly converted into a palace by the next succeeding princes . As there is no suitable land to build a new castle, the palace received various upgrades.

Each augmentation to the Palace reflects the Grimaldis’ and Monaco’s wealth, as well as the political climate of the time. For example, new towers are added for protection during wartime, or the whole place is renovated whenever certain princes get a need for and can afford better aesthetics.

External Characteristics of the Palace

The Prince’s Palace is known to be unique compared to other royal residences elsewhere in Europe. While most are famous for being pompous and lavishly constructed, the Grimaldi residence consistently reflects the appearance of the old fortress it used to be.

Outwardly, the Monaco Palace is, like Monaco itself, a combination of age old and modern architecture and aesthetics. The Renaissance style facade reflects the appearance of what could be a classy hotel, fronting its old medieval fortifications that seem to be left untouched by time.

The Monaco Palace Interiors

The interior meanwhile, contains many rooms, the most notable of which are the 16th century state apartments. Another section of note is the processional route, an enfilade – a series of rooms aligned with each other – and a ceremonial pathway to the throne room that starts from a U-shaped staircase from the court of honor, around which the Palace is built.

The Palace interior reflects plenty of French influences, which are best exemplified by the Gallery of Hercules, which is based on the Hall of Mirrors in Versailles. This can also be seen in what remained of the 18th century upgrades to the state apartments.

If you are planning to go on a vacation to Monaco, you better drop by Monaco-ville and see the magnificent palace for yourself. This edifice is not only a reflection of the Grimaldis’ affluence, but also the history of Monaco itself.

Monte Carlo Real Estate: The Advantages of Living in One

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Monaco is widely known as a cozy tourist spot that offers plenty of entertaining activities. Among all of Monaco’s administrative divisions, Monte Carlo is the one that gets the most fame as a tourist destination.

Apart from being Europe’s amusement mecca, Monte Carlo is known to host the famous and notoriously difficult Monaco Grand Prix. It also offers other albeit less-known recreational activities, like seeing theater performances, leisure walks and chilling in one of Monte Carlo’s bars and clubs. Knowing this, you won’t really be surprised to find individuals wishing to live somewhere in that section of the Monegasque city state.

Monte Carlo Life Does not Come Cheap

However, a trip to Monte Carlo – or, in fact, anywhere else in the Principality of Monaco – can be quite expensive. Imagine how much more you can spend once you start living in it! Rents cost several thousand dollars per month, and actually owning an apartment can cost a lot more. Given all the surrounding conveniences and nearby attractions, you’ll be sure that Monte Carlo real estate property value is rather high, and so are the prices.

The Benefits of Living in Monte Carlo

Whenever you spend a lot on something, you expect that product or service to provide you something that’s worth its cost. You can easily say it’s a waste of time and money if it doesn’t. In this case however, living in Monte Carlo delivers. How does it do so? The next two sections will neatly sum it all up.

Live in a Monte Carlo Real Property and Live Tax Free

As mentioned, living in Monte Carlo is never inexpensive. However, you are basically pouring money on your needs and wants but are not required by the government to spend any further on various public services. In other words, you don’t have to pay tax when living in Monte Carlo, or the entire Monaco for that matter. The Principality is an official tax haven, and as such, it attracts so many affluent individuals who want to keep their large and highly taxed income intact.

Nonetheless, you’ll need to have a resident status to enjoy Monaco’s main attraction. To obtain it, you’ll need to have your own residence and stay there for at least six months, after which you’ll have to present the necessary papers to the residency officials who’ll then take care of the rest.

High Levels of Security in Monte Carlo and Anywhere Else in Monaco

Monaco may not have an army, navy or an air force but it has a largely present police force that’s bigger – with regards to the number of policemen for the entire populace – than those of its neighbors. This ensures that everyone is safe from crime not only in the income-generating district of Monte Carlo but also in the rest of the city state. Monaco’s cops are effective at their work, and even incorporate units with certain useful specialties.

So is living in Monte Carlo worth what you pay for? Given the lack of tax – which sometimes come in at least five-digit figures elsewhere – an environment that provides a lot of leisurely activities, and the feeling of safety and comfort, you can bet your stay is worth the top dollar.

Monaco Grand Prix – A True Test of Driving Prowess

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People have a lot of reasons to come to Monaco. There are those who come to see the sights, there are those who simply want to engage in the city’s recreational activities, while there are those who come seeking for good entertainment. Enjoying some of Monte Carlo’s amusement can fulfill the last and the one preceding it. Failing that, visitors can always schedule their trip to that time of the year when the Monaco Grand Prix is held.

Racing is the one thing aside from entertainment that made Monaco famous. The fact that the Grand Prix attracts a multitude of spectators and racers every year is evident of this. Indeed, one of the first things that comes to mind whenever the words “Monte Carlo” or “Monaco” is mentioned is “Formula One”.

History of the Grand Prix and Formula One

The Prix was first organized in 1929 by Anthony Noghes. This was done under the patronage of the Automobile Club of Monaco. Soon after, the first Grand Prix was held, and the competitions went on until war broke out in 1939. The races resumed in September 1945, around four months after the war, a few years after which the Formula One category was introduced.

Significance of the Prix

The Monaco Grand Prix is ranked among the most important and prestigious automobile races, the others being the 24 Hours of Le Mans and the Indianapolis 500. The Prix is held yearly on the Circuit de Monaco. This circuit is laid out on the streets of the city, often in the municipality of Monte Carlo. The course tends to be narrow and twisty, often including a single tunnel.

This set up makes the race notoriously more complicated than any held in normal tracks. Thus, it takes a greater amount of care on the side of the driver, whose skill is deemed a lot more important than his vehicle’s power and speed. Hence, the Grand Prix is known as the slowest and yet the most difficult World Formula One Championship.

A Look into the Circuit de Monaco

To understand the intricacy of the race, we should start with the circuit. As previously mentioned, the Circuit de Monaco is laid out on the city’s streets. The course is narrow and has a great variety of features like slopes, tight corners, and seemingly random twists and turns.

The circuit is known to contain both the quickest and the slowest corners in racing. The Fairmont hairpin, the slowest, takes around 46 km/h to pass through, while the fastest corner located inside the tunnel can be taken at around 260 km/h. Speaking of which, the tunnel is known to add a lot more difficulty to the race. Passing through makes drivers undergo a disorienting switch from bright to dark environments, and vice versa.

The Monaco Grand Prix truly is a punishing test of skill for Formula One drivers, which is the very reason why many of them kept on coming back to compete. As for the spectators, well let’s just say they’ve just taken part in a very thrilling, one-of-a-kind experience.

Where is Monaco and How to Get There?

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Monaco is the second smallest country in the world, and yet is among the most famous. Well it’s not really a surprise. Despite being barely seen in the map, the Principality of Monaco is packed with sights and entertainment – truly, there’s just a lot of things a visitor can do to make the most of the Principality.

What Brings Folks to Monaco?

Entertainment is the primary reason that drives people to Monaco, fueling the country’s tourist driven economy. Visitors get their dose of recreation by visiting attractions like the Rock and the marina, seeing the Monaco Grand Prix if they happen to come at the right time of the year, or enjoying in Monte Carlo’s entertainment complex. Meanwhile, many people – especially wealthy individuals – come and never leave, owing to the fact that Monaco does not levy income tax from its residents.

You as well might want to travel to Monaco for leisure or to stay there for good. However, if you’re no European or is simply not into world political geography, you’ll inevitably ask the question, “Where is Monaco?”

Exactly Where is Monaco?

If you are looking for Monaco in any world map, you’re guaranteed to have a hard time if you have no idea where on Europe it is. Even if you do find it, you won’t be certain of its exact location. That said, the Principality’s coordinates are 43°43′N 7°25′E.
Not that good with geographic coordinates and is still asking where is Monaco? Well Monaco is simply located somewhere along France’s southeastern coasts, 16 km east of Italy. The region on which Monaco is located is called the French Riviera, which is a geographic division denoting the Mediterranean shoreline along and near southeastern France.

Getting to Monaco

Monaco is very accessible for a small country with no room for sea- and airports. There are several ways to get to Monaco, some of which does not necessarily have to drop you straight into the city state.

  • By road. Western Europe has an excellent road network which you can use to get to Monaco. Purchasing a local road map helps if you plan to go by car, as well as knowledge on which routes to travel cheapest or quickest.
  • By rail. You can hop into Eurostar or National trains from any major European city to Paris, from which you take a TGV train to Nice, France. From Nice, you can ride a local train that heads straight to Monaco.
  • By plane. The Nice Cote d’Azur is the closest airport to the Principality. If you’re planning to fly to Monaco, this should be your drop off point, from which you can ride a taxi, bus, train or chopper to the city state.
  • By ship. You can get to Monaco by sea if you have your own vessel or can afford cruise ships operating around Monaco. Otherwise, you can always sail via a commercial ferry to major ports in southern France, then head to the Principality by road or rail.

Monaco is small and locked in by surrounding terrain, but isn’t that hard to find if you have the right idea of its location. The independent city state is also very accessible, thanks to Europe’s efficient transport system.

Monaco Facts – The Five Facts You should Know About

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What’s the first thing that comes to your mind at that instance the name Monaco is mentioned? Some will immediately think of some rich and obscure European country. To others, it is one of Europe’s top entertainment destination. Meanwhile, racing enthusiasts and sports fanatics will no doubt associate the word to Formula One, owing to the fact that the country hosts the Monaco Grand Prix, one of the most important racing events in the world.

These are all but hints of what the country is about. Knowing these alone creates no more than stereotypes instead of the actual picture of this splendid city state. Below are some facts to help you brush off your own stereotypical depiction and see the country for what it truly is.

  1. Where is Monaco?

    2. For those who have a hard time finding Monaco in the map, the city state is actually located somewhere south of France and is very close to Italy, divided only by a 16 km French corridor. The region the country is in is called the French Riviera or Cote d’Azur, which includes the Mediterranean coasts of France’s south-eastern corner.

  2. Monaco is the second smallest country in the world.

    3. Monaco’s land area is approximately 2.05 km2, which is less than a square mile. This makes the city state around the same size as New York’s Central Park, a few times larger than the Vatican City, and a lot smaller than every other country. This rather small and limited land area is shared by 35,986 residents, awarding the Principality the title of being most densely populated country, apart from being the second smallest.

  3. Monaco is ruled by the House of Grimaldi and is only independent in 1861.

    4. Traditionally, the Principality of Monaco was ruled by princes of the Grimaldi lineage. The dynasty was established by Francois Grimaldi in 1297 after his cunning takeover of the fortress on the Rock of Monaco, continuing to the present with only a few brief interruptions. Despite this, the Principality was ruled in succession by Genoa, France and Sardinia, and only became truly independent in 1861.

  4. Traditionally, Monacans are neither French nor Italian.

    5. The citizens of Monaco are known as Monegasques. The native ones are descendants of settlers from Rhaetia, a region that once existed in Central Europe. Ironically, actual Monegasques comprise only a little over 20% of Monaco’s total number of residents. The rest are foreigners from France, Italy, UK and other countries.

  5. Best of all, Monaco has no income tax.

    6. The Monacan government does not gather income tax from its citizens. This made Monaco a popular tax haven for the wealthy, who will be obliged to pay at least five-digit figures as state contribution elsewhere. Despite the lack of taxes, Monaco offers top-notch standards of living to all its residents. This is exemplified by its large yet effective police force, as well as some amenities that come for free.

These are all but a short summary of Monaco as a whole. Still, the best way to see the big picture of the Principality is to wander into it, then enjoy a nice, one-of-a-kind visit.

Settling Down in a Monaco Real Estate

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Lying along the Mediterranean is a little glimmering gem for the elite. Further adorned by splendid scenery and magnificent recreational facilities, the Principality of Monaco truly shines for such a small country in the French Riviera. Year after year, tourists of high social standing flock to this city state, for all its charms that doesn’t seem to want to let them go.

Monaco occupies a 2.05 km2 landmass, and is inhabited by around 36,000 transient and permanent residents. As such, it is named the second smallest independent state in the world. However, its size is compensated for with its wealth, which is driven in most part by its visitors and residents of high social strata.

Why Monaco?

So what brings people to Monaco? You can argue it’s the scenery or the entertainment. However, those two things only bring in folks who leave after a few nights. What really makes people come and stay in the principality is the fact that the city’s residents are not obliged to pay income tax and a large police presence that ensures high levels of security. Monaco’s status as a secure tax haven has been found favorable for many, especially celebrities and individuals of considerable wealth.

Assuming that you have enough cash and patience to travel and set up, you might want to take advantage of the principality’s safe, tax-free environment as well. Admit it, staying in a cozy city assured of your safety and without being bothered by taxes is a truly sweet deal. Now the only problem is where in Monaco you will settle down.

Finding a Good Real Estate Property in Monaco

Actually, looking for a Monaco real estate property is not that difficult. The bad news is that you won’t find a good one for a cheap price. Monaco is one prestigious city so you should expect to spend huge sums for one if you want to enjoy good standards of living.
Most of the Monaco real estate properties you can avail of are apartment-type residences. The sizes of these properties vary, and so does their corresponding costs. For instance, small studio-type living spaces can cost around half a million dollars, while larger and more luxurious ones can be purchased at a seven-digit price.

What Makes a Monaco Property Expensive?

One of the main factors that drive the property costs is the presence of nearby amenities. The proximity of shops, schools and medical facilities can increase the cost of the living space. Parking spaces are particularly valuable and it gives a good raise to the property’s value.

Another factor that adds up to a property’s value is the views. Rooms that overlook places of interest like the harbor or the Grand Prix circuit tend to be rather expensive, but are definitely worth the price.If you consider the relief from stress that the scenic outlook can bring, as well as all the other comforts that come with it, the million dollar price tag is justifiable.

If you want to experience a life of luxury that used to be reserved for the elite, look no further than Monaco. Sure Monaco real estate properties may come off as expensive, but what’s the one-time price compared to the comfort and freedom from taxation and crime?