When it comes to investing, the primary area to focus on is the potential of your investment to gain value with time. In relation to real estate, Monaco tops the list of the best places to buy property. A recent study by property website Icon Property sights the principality as one of the only countries to have survived the property crash a few years ago unscathed. A look at the beauty of Monaco’s economy and real estate can help understand why this is an ideal place to invest in. In this post, we are going to take a look at the primary factors that make Monaco an ideal property investment destination.
The economy of Monaco is without doubt what makes this city-state the best place to invest in. For starters, Monaco does not levy income tax to individuals. As a result, the principality has attracted a considerable number of wealthy ‘tax refuge’ residents from Europe and the rest of the world. Monaco’s economy and real estate attracts celebrities and other lesser-known business people. With that being said, you can expect your property to gain value fast especially when considering people are always looking for property in this city-state. It is also important to note that Monaco boasts the world’s highest GDP nominal per capita. The unemployment rate is 2%. You can, therefore, have the much-deserved peace of mind knowing you are investing in an economically stable region.
The attractiveness of Monaco’s economy and real estate has further been strengthened by the fact that since 1911, Monaco has been governed under constitutional monarchy. The head of state is the Sovereign Prince of Monaco. The political stability is superior. This translates to great safety of assets.
Dimension of the territory
Another important point to note about Monaco’s economy and real estate is the size of the country. Monaco is the second smallest country (about 2km2) in the world. This makes real estate in this city-state a very specific market.
The climate of a region has a part to play on the overall value of properties. The Principality of Monaco enjoys a Mediterranean climate which is pleasant all year round. The winters are mild and summers temperate.
Monaco’s economy and real estate makes it the best place to live and invest in. The social and cultural environment is welcoming and the climate is fair all year. The investment facilities, political and economic stability, and real estate assets’ safety make Monaco the ideal destination for any property investment. The important thing to do is hire an experienced real estate agent to guide you through the real estate market.