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| Map of 50 Monaco Property |
The Principality of Monaco is an independent sovereign state set in the heart of Europe, on the Cτte dAzur between Cannes and the Italian border. It has a resident population of approximately 35,000 and occupies just over one square mile on the Mediterranean coast. About 20% of the population is Monegasque, the remainder being a cosmopolitan mix of French, Italian, British and most other European nationalities as well as Americans, Canadians, Australians, South Africans, and Middle Eastern Nationals. The Principality of Monaco has achieved a reputation for being a serious business centre and ideal place of residence for families wishing to live in a very safe and accessible European location with sophisticated facilities, a temperate climate and favourable tax system. Though French is the official language, English and Italian are widely spoken and understood both in business and socially. English is the preferred foreign language for children in the highly rated local schools and is the predominant language in Monacos International School. One of Monacos foremost attractions is the high level of security afforded to its residents due largely to the presence of a strong police force. Many of the apartment complexes have 24hr security and concierge for extra peace of mind. The Principality legislates internally in respect of all matters of direct taxation: Monaco has chosen not to adopt any income tax, capital gains tax or withholding tax legislation. This is good news for anyone looking to purchase real estate in Monaco for a long-term home or for rental purposes. Though undeniably built-up, Monaco still enjoys various parks and several public and private beaches. Monaco PropertyThe Principality is a prestige area and, as such, Monaco property changes hands for considerable sums. There are few bargains to be sought as can be well understood from the density and quality of much of the extant accommodation. However, its tax haven status ensures the market remains buoyant and prices stable so investment in Monaco property continues to be attractive. Much of the available property in Monaco and Monte Carlo is apartments, from small studios to large luxury triplexes and penthouses. Those overlooking the harbour and Formula 1 circuit are naturally more valuable. There are also a selection of luxury villas and beautiful townhouses but these are usually somewhat more expensive. Parking difficulties ensure that Monaco properties offering one or two spaces are highly desirable. Private purchase or rental of parking can run into several tens of thousands of Euros and, due to demand, will not necessarily be nearby.
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