Monaco Grand Prix

The Monaco Grand Prix ranks among the topprincipality for the last forty years.
sporting events in the world, and for good reason.Real estate prices reflect the prestige and tax
The combination of Formula One cars streetadvantages of living in Monaco. One local Monaco
racing and the influx of celebrities to theestate agency report that currently they have a
playground of Europe make a heady mix for theone bedroom apartment, with no sea views,
annual event, and is viewed as part of the socialavailable at 880,000 Euros. And by the time
calendar for the world's top sports stars, actors,closing costs are taken into account this rises to
models and businessmen.around a million Euros.
The circuit takes in Casino Square and passes byA two bedroom two bathroom apartment in
the renowned Hotel de Paris in Monte Carlo,Monte Carlo is available for 1,900,000 Euros.
making it one of the most recognisable hotels inAnd a five bedroom four bathroom apartment,
the world.recently featured on the BBC's Money
The race started in 1929, organised by MonteProgramme 'No tax please - we're rich', in
Carlo resident and founding president of theFontveille, the same area of Monaco where the
Automobile Club de Monaco, Anthony Noghes, andHotel Columbus, part owned by Grand Prix driver
the Grand Prix has made the world's secondDavid Coulthard, is situated with Mediterranean
smallest country a destination of choice for many.views is available for ten million Euros.
While Monaco enjoys the attention of the world'sWith demand from clients worldwide the prices of
media for one weekend every May, she alsoreal estate in Monaco is likely to be among the
attracts many people long term to becomehighest in the world for the forseeable future.
residents due to her tax haven status, andCommenting 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 thefor Monte Carlo real estate and for Monaco
wealthy for another visit. The annual Monacogenerally in the first quarter of 2006, with the top
Yacht Show in September has the most exclusiveend of properties in Monaco doing particularly well
yachts in the world moor at the harbour incompared to the same quarter last year.
Fontvieille, and the hotels in Monte Carlo andAnd there are rumours among the owners of the
Monaco are booked full nearly a year in advance.hotels in Monaco and Monaco Real Estate industry
For both events, the Monaco Grand Prix and thethat two islands could be built with bridges to
Yacht Show many visitors stay in nearby Niceconnect them to Monte Carlo which would allow
and travel in, and the hotels in Monaco enjoy fullsome 5000 new low rise properties and a hotel to
occupancy at premium rates.be built.
Monaco Real EstateIf the rumours become true of more availability
Once a European backwater, Prince Rainier turnedof properties and a new hotel in Monaco 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 policycircuit for the Monaco Grand Prix in years to
that has attracted millionaires and billionaires to thecome.