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