Living in the Principality of Monaco is always considered prestigious for you, your family as well as your business. Just see the first impression you get when people hear that you are relocating to Monaco… You will definitely experience the “wow factor”, or a slight sign of envy.
Living in a green and wealthy country with zero national debt, is quite a privilege. It is something which will motivate you to create and maintain a high quality of life for yourself and your beloved ones.
However, this prestige comes with a bold price tag as well. For one million euros (approximately 1,085,000 CHF or £735,000 or $1,135,000) one can buy only 17 square metres of property in the Principality of Monaco. This definitely creates a playground for the rich and famous.
To be honest, the real-estate prices are extremely high in Monaco, however, you can find similar prices in other well-known destinations for the world’s super rich, such as Hong Kong, London, New York or Singapore.
Of course, Monaco also aims to serve you, and therefore you can take advantage of its many opportunities. Most wealthy people are even moving and relocating a part of their businesses to the Principality in order to benefit from its well-branded name.
The cultural and artistic influences of the Principality of Monaco are worthy of the greatest European capitals. Offering diversified cultural programs from ballet, opera, art, sport and prestigious exhibitions attract people throughout the whole year.
And do not be confused with the size of the Principality of Monaco, because it might change soon. The thing is that Monaco was always somehow the symbol of prestige and luxury and to maintain this status, the Principality of Monaco always aims to renew itself.
When we talk about prestige and luxury in the Principality, Monaco has to think about the needs of its own residents as well. Monaco offers one of the leading Luxury MBA programs at the International University of Monaco. For these reasons, the quality of life plays a key role in the necessity for Monaco to maintain its prestige.
Monaco already recognised that its residential surface has some limitations. However, Monaco also understands that it is necessary to maintain its luxury, because over 500 new residents are arriving in the Principality every year. Monaco needs to maintain housing needs and provide luxurious living spaces. Therefore, one of the most interesting ongoing topics is the long-awaited land reclamation.
Monaco’s aim is to extend its borders towards the sea. This complex project has required very careful planning. In recent months, the project got the green light, after the government and town representatives unanimously approved the land extension.
Of course, a transformational project such as Monaco’s land extension will take time. It will be at least 10 years until residents will be able to enjoy the new district with all its urbane developments, including housing, shops, marina and beautiful garden areas. The first steps were taken at the end of 2016, with the removal of the protected marine species, which were relocated carefully in nearby natural reserves.
What makes this extended territory also special is that Monaco, one of the smallest country in the world is reclaiming new land peacefully. Truth to be told, there are not many countries that can expand their borders without war. So a big applause for this ideal solution.
The name of the new district will be “Anse du Portier” which means Portier Cove.
With this approximately 60,000 sqm development, Monaco will be able to maintain its sustainable development and also offer new, high-end luxury standards to its residents. There are new apartments planned for over 700 people.
Also, the famous Grimaldi Forum, the location of some of the most important conferences in Monaco will be extended during the upcoming years. Additionally, a new waterfront promenade will provide a spectacular view of the Rock and Monte-Carlo.
The new land extension is luxury and business as well. It is a fascinating fact that the two billion euro project will be completed at no cost to Monaco. Yes, it is free for the Principality. The project is sponsored by the involved companies and entirely financed by the private sector.
So what can be more prestigious than living in a country where the people simply finance their own country’s development. That shows a level of well-being for sure.
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