Monte Carlo: Property transactions back to the peak of 2008.

The Monaco statistics office, IMSEE, have just released their latest figures relating to the Monaco Real Estate Market during 2012.
The data makes for very interesting reading, most notably the total amount of money spent buying apartments in the Principality last year is back to the €1.1Bn peak of 2008.


Further analysis of this data reveals that an increasing percentage of properties purchased are the most expensive four or five room apartments. Indeed, it would appear there is no shortage of buyers requiring multiple bedrooms in this 10 million plus price bracket, many commentators suggesting this is the “family effect” – the result of a new wave of Monaco Residents genuinely settling here, which is further proved by attendance figures at the International School of Monaco reaching record highs.

Russian Residency applications also continue to rise as rapidly as the total funds committed to Real Estate in the Principality. Many investors are attracted to Monaco because of a favourable tax regime which includes;
• no inheritance tax
• no property tax
• no wealth tax
• no capital gains tax.

This translates into a secure investment that won’t get diluted by government taxation and that fits clearly into succession planning.

At Icon Property, we are seeing increased demand from weary investors looking for a safe environment to avoid a repeat of the recent issues in Greece, Cyprus or Italy.
Although Monaco is not a member of the European Union it still benefits from support by some of its major institutions (ie. the French National Bank). Such support helps ensure Monaco has a stable government with healthy reserves, low deficit and high public investment for development.

Following recent demand, Icon Property has identified and modelled various investment opportunities with ROIs of over 20% which take full advantage of these new market trends.

Please contact us if you wish to learn more: