![Monaco Magic and Majesty](https://magarticles.magzter.com/articles/1143/769272/61710bbb3918f/Monaco-French-Riviera-Majesty-Monte-Carlo-VIP-Suite-of-Europe-Prince-Albert-II-Environment-Carbon-Neutrality-Sustainable-Development-Saint-Tropez-Brigitte-Bardot.jpg)
Simply put, Monaco exudes prestige—from the nine-figure superyachts to discreet banking venues that feel more like a country club than the usual three-tellers-and-an-ATM we see Stateside. Here in the second smallest sovereign state after the Vatican, citizens enjoy a zero income-tax policy, a rather attractive fiscal climate for the world’s wealthiest global citizens. Real estate is a realm unto itself, quite literally, as most prized properties transfer either dynastically or between aristocrats. Natives still speak the Monégasque dialect, which sounds like a soulful blend of French and Italian. The 200-hectare principality feels so consummately vetted, it has reigned as the de facto VIP suite of Europe for generations.
What Monaco lacks in size it more than makes up for in sheer power in the global property market. Lying within the glamorous French Riviera, Monaco remains the most expensive prime residential market in the world, according to Savills’ 2020 property report, with Monte Carlo holding pole position. At nearly three times the price of fourth-placed London, suddenly Mayfair seems like a fire sale.
An uptick of fintech entrepreneurs looking to move and work within Europe has zeroed in on Monaco as an ideal base camp with an attractive tax regime. In other revealing metrics, a Monte Carlo furnished penthouse rental for one year is comparable to the sticker price of a brand new Rolls-Royce Phantom. Low supply and high demand create the perfect storm for a feast of ego and escrow.
Denne historien er fra November - December 2021-utgaven av Maxim.
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Denne historien er fra November - December 2021-utgaven av Maxim.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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150 YEARS of SUPERYACHTS STYLE
Here's why Benetti's expensive-but-worth-it vessels have been favored by the beautiful people, from James Bond to Donald Trump, David Bowie and Jay-Z
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THE RAZOR'S EDGE
Collectors are taking note of William Henry's nextlevel pocket knives, the ultimate in luxury cutting tools
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A conversation with Emmy-winning cinematographer and director Keyan Safyari
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Malaysia's Rollin Machine crafts a world-class tribute to the Royal Enfield Interceptor