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Monaco Grand Prix May 28
he Monaco Grand Prix ranks of the world’s media for one among the top sporting weekend every May, she also events in the world, and attracts many people long term to for good reason. become residents due to her tax haven status, and residents enjoy The combination of Formula One a zero rated income tax. cars street racing and the influx of celebrities to the playground In recent years Monaco has of Europe make a heady mix for attracted the wealthy for another the annual event, and is viewed visit. The annual Monaco Yacht as part of the social calendar Show in September has the most for the world’s top sports stars, exclusive yachts in the world actors, models and businessmen. moor at the harbour in Fontvieille, and the hotels in The circuit takes in Casino Monte Carlo and Monaco are booked Square and passes by the renowned full nearly a year in advance. Hotel de Paris in Monte Carlo, making it one of the most For both events, the Monaco Grand recognisable hotels in the world. Prix and the Yacht Show many visitors stay in nearby Nice and The race started in 1929, travel in, and the hotels in organised by Monte Carlo resident Monaco enjoy full occupancy at and founding president of the premium rates. Automobile Club de Monaco, Anthony Noghes, and the Grand Monaco Real Estate Prix has made the world’s second smallest country a destination of Once a European backwater, Prince choice for many. Rainier turned Monaco into one of Europe’s best known locations, While Monaco enjoys the attention combining glamour with an income
tax free policy that has attracted millionaires and With demand from clients billionaires to the principality worldwide the prices of real for the last forty years. estate in Monaco is likely to be among the highest in the world Real estate prices reflect the for the forseeable future. prestige and tax advantages of living in Monaco. One local Commenting on the local property Monaco estate agency report that market, several estate agents currently they have a one bedroom have reported good sales for apartment, with no sea views, Monte Carlo real estate and for available at 880,000 Euros. And Monaco generally in the first by the time closing costs are quarter of 2006, with the top end taken into account this rises to of properties in Monaco doing around a million Euros. particularly well compared to the same quarter last year. A two bedroom two bathroom apartment in Monte Carlo is And there are rumours among the available for 1,900,000 Euros. owners of the hotels in Monaco and Monaco Real Estate industry And a five bedroom four bathroom that two islands could be built apartment, recently featured on with bridges to connect them to the BBC’s Money Programme ‘No tax Monte Carlo which would allow please – we’re rich’, in some 5000 new low rise properties Fontveille, the same area of and a hotel to be built. Monaco where the Hotel Columbus, part owned by Grand Prix driver If the rumours become true of David Coulthard, is situated with more availability of properties Mediterranean views is available and a new hotel in Monaco the for ten million Euros. possibility also exists of an
extended or changed circuit for come. the Monaco Grand Prix in years to
About the Author:
Monaco Grand Prix information http://www.yourmonaco.com/grand_prix
Information and advice for Monte Carlo and Monaco http://www.yourmonaco.com Monte Carlo Real Estate http://www.monacoproperty.net
Read more articles by: Roger Munns
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