An Introduction to Monaco
The tiny principality of Monaco is in south west Europe and is surrounded on three sides by France and on the fourth side by the Mediterranean Sea. Monaco is not only a country, but also the name of the capital city. It is the second smallest country in the world after the Vatican City and only covers 2 square kilometers (0.75 square miles) in total. You can walk across the whole of Monaco in less than 30 minutes!
Monaco is well known for its status as a tax haven, preferring instead to raise income from local gambling and tourism. The area is almost entirely populated by wealthy foreigners, making Monaco villas an expensive option. Monaco properties, although highly priced, are well-sought after as investment properties.
Many visitors to Monaco choose to stay at one of the nearby cities where vacation villas can be rented at more affordable prices. Cannes, Nice and St Tropez, lovely cities in their own right, also act as dormitory towns for those unwilling to pay the prices of Monaco real estate.
The main attractions in Monaco, besides the beach and marina, are the opulent Monte Carlo Casino and the Monaco Grand Prix. Visitors from all over the world choose a Monaco vacation to participate in the exciting entertainment.
The current head of state of Monaco is Prince Albert II, as yet a bachelor without an heir. However, if the ruling dynasty dies out, the principality will become an autonomous state under French protection. Prince Albert’s father was Prince Rainier III and his mother was the former actress, Grace Kelly, who was tragically killed in a road accident.
Those looking for villas or real estate in Monaco should familiarize themselves with the different areas of Monaco: Monte Carlo, Monaco-Ville, La Condamine, Fontvielle and Larvotto Beach. All the areas of Monaco are well known as a playground for the rich and famous and it remains one of the most exclusive pieces of real estate in Europe.
Photo: Monaco Palace
