Why Live in a Monte Carlo Real Estate?

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.

Monte Carlo Real Estate: The Advantages of Living in One

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.