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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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