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