The real estate market in Monaco
If you want to invest in the real estate market in Monaco, then you will have to approach it differently. Indeed, the latter is particular, due to its quality of life, but also its atypical taxation close to France (remember, Monaco is a principality). This is why, if you should invest in this city, be accompanied by a real estate agency based in Monaco (find out more) greatly helps to understand this market. So let’s zoom in on it.
High prices for the real estate market in Monaco
Settling in Monaco is sometimes a real obstacle course. In effect, the price per m² sometimes reaches quite crazy values (over €50,000!) and places Monaco among the most expensive cities in the world (if not the most expensive). The reasons for these prices are many, but the geography of the place, as well as the taxation, are the main ones.
First of all, you should know that the city of Monaco has a very small area: only 2 km² for 38,000 inhabitants (difficult to have a garden thereby) ! With a very simple calculation, we realize this almost unique feature: 19,000 inhabitants per km². Mechanically, this given kind makes real estate prices go up easily. Finally, you should know that taxation is advantageous in Monaco: income tax as well as wealth tax does not exist… Enough to attract wealthy people.
Foreign investors present on the real estate market in Monaco
As we have just seen, Monaco’s taxation is particularly interesting, for both natural and legal persons. As a result, this element is of great interest to foreign investors to invest part of their funds in Monaco. These investors can present themselves as a company setting up its head office in the principality, or simply via real estate purchases and then renting out. Finally, the last information to take into account: the political and economic stability of the territory, further increases the confidence of investors in real estate investments. Once again, this mechanically drove up real estate prices.
A quality of life that increases the price of real estate in Monaco
If you have not yet set foot in Monaco, then the quality of life present in the principality should be of great interest to you. Besides the fact that the Mediterranean climate is among the most pleasant on the planet, it is also a place where crime is almost non-existent. If we consider health services, schooling or even the different places of life, then Monaco immediately becomes a must for the much sought-after well-being of life. Obviously, these are elements that are paid for: the real estate market then reflects the quality of life in Monaco.
In short, you will understand, investing in financial real estate in Monaco is therefore a good idea, provided you have the possibilities. There is no doubt that over the next few years, the price of real estate should continue to climb in the principality: enough to make a possible current investment profitable.