All Press Releases for May 10, 2014

Monaco Property Boom Forecast to Continue Into Next Decade

Popularity of Monaco as a magnet for high net worth individuals and companies looks set to endure beyond 2020

The residents of Monaco expect the best and in the next five years, it is certain that Monaco will present a new face to maintain its position as one of the most desirable destinations on the planet.

    MONACO, May 10, 2014 /24-7PressRelease/ -- Monaco property expert, Luciana Gaia Lebon, of La Costa Properties Monaco (LCPM) announced that the Principality's unique real estate market is expected to grow well into the next decade.

La Costa Properties Monaco's clients originate from all over Europe, as well as Asia and the Middle East. Mrs Lebon commented: "Many of our clients, especially from Eastern Europe would like to get settled immediately and this has fuelled strong demand for beautiful apartments with luxury appointments. They are looking for a turnkey solution."

A number of factors make Monaco a truly special market for luxury properties. As the second smallest country in the world (less than 3 square kilometres), the supply of properties has always been low.

To satisfy the needs of its demanding residents, Monaco is preparing for the future with new infrastructure projects.

Several exciting developments are underway, which will drive the Monaco property market over the next 5 to 10 years. The most significant is a 10-hectare sea land reclamation project, creating 60,000 sq m of building space in front of the Japanese Garden and a port with 30 - 40 berths. It will be a luxury "eco-neighbourhood" with buildings no higher than 10 storeys, completed by 2024.

Current construction projects include the dramatic, 50-storey "Tour Odeon" with ultra-luxurious 250 to 500 sq m apartments and the "Petite Afrique" 8-storey residence overlooking the Casino Gardens. There will also be the new buildings on the Avenue des Beaux Arts in the Golden Square of Monaco.

Monaco's pleasant climate and exquisite location on the legendary Cote d'Azur continue to attract an ever-growing demand for residence in the Principality but other less-obvious factors may also be a consideration.

"Monaco is one of the safest places in the world," said Mrs Lebon. She continued: "In fact, security is taken very seriously, with a very high ratio of policemen to residents (1 policeman for every 100 residents). A 24/7 video surveillance system keeps a close eye on the whole Principality and all entry points are guarded by policemen."

Naturally, Monaco's political and economical stability and its mild taxation regime make it an extremely attractive place for wealthy investors and businessmen, as well as individuals and families.

However, Monaco also takes care of its younger residents and children enjoy great public and private schools - from pre-school to high school - with very high exam success rates. Finally, considerable resources are dedicated to healthcare and well-being, with world-class hospitals, clinics and spas such as the Princess Grace Hospital Centre.

Mrs Lebon concluded: "The residents of Monaco expect the best and in the next five years, it is certain that Monaco will present a new face to maintain its position as one of the most desirable destinations on the planet."

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La Costa Properties Monaco represents the finest Monaco properties throughout the Principality and in the neighbouring French Riviera. Clients seeking to buy or rent Monaco apartments, offices, villas, penthouses, or other real-estate investments, can be sure of receiving professional guidance from qualified and experienced brokers. La Costa Properties Monaco provides serious and competent management of all assets and necessary advice in legal and accounting matters.

Visit the La Costa Properties Monaco website which is regularly updated with listings of Monaco properties that will be of interest to the serious and discerning buyer or tenant.

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Sabrina Gaia
La Costa Properties Monaco
Monaco, Monaco
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