Monaco is the second smallest country in the world but it offers excellent schools and a secure, sophisticated and healthy lifestyle. It is surrounded on three sides by France, just thirty minutes from Nice airport, and is well located for easy travel along the Cote d’Azur and into Liguria with the Alps and the Italian Lakes within striking distance.
Foreign investors dominate the property market in Monaco where over 80 per cent of residents come from outside the tiny principality. Monaco is an independent sovereign state within the Eurozone. Residents pay no income tax, capital gains tax or tax on rental income and this, along with its equally benign climate, makes the waterfront community of just 2 square kilometres an appealing option.
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The principality has a dynamic cultural and artistic calendar that attracts a stellar roster of well-connected names. World famous annual events include Formula 1 Grand Prix, international tennis tournaments and the Yacht Show.
Demand for property both for rent and purchase generally outpaces supply. Most residents live in apartments and penthouses, with popular locations including Monte Carlo and particularly the prestigious Carre d’Or, Condamine close to the smart boutiques and traditional market in Port Hercule or the newer, more obviously commercial Port de Fontvieille, a man-made island reclaimed from the sea.
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