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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.

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?