MonacoCapital: Monaco
Language(s): French
Population: 33,000
Total Area: 2 km²

Monaco, officially the Principality of Monaco, is a sovereign city-state, located on the French Riviera in Western Europe.

If there's a global real estate downturn, it isn't visible in Monaco, home of the super-rich. Since the beginning of 2006, prices have risen by an average of 51% during the 30 months to June 2008, according to Global Property Guide research. Before this latest spurt, Monaco's property prices had risen by over 10% a year during the previous decade.

The British have returned to Monaco in numbers not seen for a long time, elbowing out the Russians, who till recently were the top buyers. Monaco's prime residential real estate market is in Monte Carlo, which is famous for its Place Du Casino. The most prestigious area is the Carre D'Or" (Square of Gold) around the Place Du Casino. Prices drop by between ten and fifteen percent as one heads east or west of this point.

Fontveille, an economical and industrial district, has a supplementary discount due to its less noble access, although the fact that the environment is constantly evolving assures a similar evolution in perceived values.

Acquiring property in Monaco is quite straightforward. There are no restrictions on foreigners purchasing real estate.

 

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