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.