Despite restrictions due to the pandemic and the current situation of the global economy, the real estate market in Monaco remains a profitable and attractive investment for the wealthy.
Monaco, with a 38,000-strong population, has an economy so resilient, its real estate remains the most sought-after piece of property for both local and international clients.
What the Experts Say
Property investors and real estate companies, including Caroline Olds Real Estate, are hoping that the market can recover from the shutdown as quickly as possible. With more businesses reopening or resuming their operations, the real estate market might be able to finish strong this year.
With that in mind, there’s no reason for companies and buyers to linger with their decision-making and it would be highly beneficial to them if they take advantage of the current real estate pricing in the country.
The Best Time to Buy
With the looming possibility of a pandemic-triggered tax hike in some countries, moving to Monaco appeals even more so to many wealthy clients from the international market. Aside from face-to-face clients, real estate firms are also closing deals with clients doing the procedures remotely.
If this is an indicator of the attractiveness and future performance of Monaco’s real estate market, the country then is where real estate remains bankable.
With that said, this is the best time to invest in a property in Monaco. While the prices have remained stable from 2020, these will soon be on the rise again. For anyone who’s looking to buy a property in Monaco, now is a perfect time to do so.
Benefits of Owning a Property in Monaco
If you are in the process of closing deals with clients who are interested in making an investment but need a little more encouragement, here are the selling points that will surely alleviate their doubts and motivate them to take the next step.
Safety and Quality of Life
Monaco is undoubtedly one of the safest countries on the planet. The country has the largest police presence per capita and per area in the world. The crime rate is very low; during the pandemic, there’s actually a 19% drop in delinquent acts reported to the police department.
Even during the health crisis, the police carried out their tasks exceedingly well, as they remained committed to public safety and remained vigilant, keeping offenders at bay. With that said, Monaco continues to be one, if not the safest place to live in the world.
Monaco’s bright and sunny weather is one of the reasons many people are attracted to the place. With weather like that, there’s a reason for the residents to head out to the beach to spend time under the sun or to commune with nature. Even the winters are relatively mild and sunny, which makes it truly enjoyable.
Education and Sports
The education system in Monaco is top-notch. This makes moving to the country ideal for families with school children or individuals who would like to take up higher education to further their studies or their careers.
Monaco also has its own sports teams and is one of the countries to host the Formula 1 race annually.
Monaco’s economy is one of the strongest in the world. Taxes for individuals and companies are relatively low, which makes it an ideal place for business and residence for entrepreneurs. This is why there are more millionaires per head in Monaco.
Excellent Location and Beauty of Environment
Aside from its beautiful landscape and urban design, Monaco’s location is very ideal for work and play. The country is situated between the French and Italian Riviera, and a stone’s throw away from other world-class resorts like St. Tropez, Portofino, and Cannes.
Albeit a very small country — Monaco is the second smallest country in the world, with Nauru as the third and Vatican City as the first — the country’s rich and diverse culture, excellent health care system, peaceful environment, and picturesque beauty make its residents proud of calling Monaco their home.
More than Meets the Eye
While Monaco is known for annual yacht shows, grand Prix, tennis masters, event balls, the country has more to offer than endless parties, a lavish lifestyle, and being a tax haven for the wealthy.
Those who decided to own a property in Monaco can vouch for the country’s reputation as a progressive and safe place to live in. For them, owning a property in Monaco is the best investment decision that they ever made.
Behind the glitz and glamour is an ideal place for families to live and for entrepreneurs to invest in, business-wise or property-wise.