Monaco proved to be another thriller of a Formula # 1 race this year with plenty of action and unexpected twists and turns. The team with the best judgment calls won fair and square this year with Ferrari’s Kimi Raikkonen suffering a wheel location problem before the start which resulted in a drive through penalty during the race followed by a loss of control in the tunnel which took his nose off. This cost him dearly as he lost his championship lead to Brit Lewis Hamilton who now leads by 3 points over Raikkonen.

Hamilton won Monaco thanks to the decision by the team to make it a one stop race which proved the right thing to do.

1. Lewis Hamilton (McLaren-Mercedes)
2. Robert Kubica (BMW Sauber)
3. Felipe Massa (Ferrari)

Ferrari still leads the McLaren-Mercedes team by 16 points at this stage but tables can quickly turn and maybe the lucky streak has run dry now for the red team. Time will tell when Canada heats up on the 8^th of June next month.

Mingle with high society

While spectators reveled in the changing weather, property investors were no doubt checking out the goodies Monaco has to offer on the real estate side of things.

Just to give you a rough idea on Europe’s prices for square meters, check out the table below. Monaco is clearly the leading city by far with Carre D’Or” (Square of Gold) around the Place Du Casino in Monte-Carlo being the most prestigious of all.

The best part about buying an investment property in Monaco is the fact that overseas investors don’t have to pass through massive red tape to do so.

It is pretty straight forward.

Fueled by the high prices of oil, Monaco’s property prices are said to be propped up by Middle Eastern and Russian money. With prices triple of those in central London, Monaco is certainly a playground for the mighty rich.

This assumption was made on the premises that the only real players in the high priced market were the Russians and Middle Eastern investors and if we put that in direct relation to the high oil prices of around $200 a barrel it is easy to see why.

Our research revealed that a one bedroom apartment in the coveted Carre d’Or region of Monte-Carlo retails for around €5, 600, 000. Definitely not for the faint hearted to make sure.

Certainly, there are also the lower end “bargains” to be had in and around Monaco/Monte-Carlo, but as you probably already realize, they are far and in between.

So what is the big deal with Monaco you might wonder?

Well, apart from the fact that you might run into James Bond at the local casino in Monte-Carlo (just kidding) you will love the fact that unless you are a French national, you won’t pay any income tax. What better way to invest your spare cash if in fact you have millions to spare.

There are also no capital gains taxes which have been part of the law since 1870. Attracting a massive influx of people with money to play Monaco has soon become a playground for the who is who list of society.

As a city, Monaco has so much to offer to residents and investors alike. It is a bustling place with the most stunning yachts to be found in the harbor, especially around the Grand Prix period. It isn’t rare that you will run into a familiar face from one of the many tabloid magazines.

The Mediterranean climate is amazing with mild weather year round and plenty of sunshine. One thing is for sure. When you while in Monaco, you won’t ever get bored.

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