ART - NEWS / PAINTINGS / MASTERCLASS / Pierre van Dijk
Monaco’s Luxury
Get link
Facebook
X
Pinterest
Email
Other Apps
Shortage of New Homes Sends Monaco’s Luxury Prices Soaring
Photo: courtesy of Monaco Yacht Show
A new report finds them clocking in at €53,000 per square meter.
Luxury residential real estate values in Monaco reached €53,000 (US$61,832) per square meter in the second quarter of 2017, according to a new report by Knight Frank.
The tiny, independent region on the French Riviera has led Knight Frank’s annual global comparison of residential values since 2008, the report said, and was followed by Hong Kong, New York and London.
“Monaco remains at the top of global wish lists,” said Kate Everett-Allen, head of international residential research at Knight Frank, “with no other city in the world boasting the same wealth density.”
Prices are being supported by a lack of new development. Not one residential unit was completed in the Principality in 2016, according to the report released Monday, likely to put further pressure on prices in the short to medium term. While there is residential development underway, it’s a way from completion, the report said, and 75% of properties under construction are either social housing or high-end built-to-let apartments.
You might also like these articles
With its only opportunity for expansion to extend into the sea, Monaco’s latest €2 billion land reclamation program will see six hectares of new land created from Sicilian sand, according to the report.
On it will sit 120 new high-end apartments, whose prices will be in excess of €100,000 (US$116,659) per square meter, prices that ultra prime stock in Monaco are already achieving, especially in places like the affluent Carré d’Or area. Of those 120 units being built, 50 have already been retained by the developer, leaving just 70 to be sold, the report said.
Knight Frank estimates that by 2026 Monaco will be home to 16,100 millionaires and 1,450 ultra high net worth individuals.
Anse du Portier – The real-estate future of Monaco
Monaco was always the symbol of luxury and success. To answer to its growing need the Princely government decided to extends the borders of the country by adding 60,000m² of new land to it. The project two billion euro project is a sea extension which will have a serious impact on the environmental and social landscape.
The author Zsolt Szemerszky intended to hunt down the myth around Monaco and to go beyond gossips. Zsolt is also know by releasing Monaco’s first gourmand book. The Signature Dishes of the Principality of Monaco was launch last December 2016 as the number one release in wine pairing at Amazon.com allows gastronomy lovers to discover the excellence of the Principality of Monaco thanks to recipes and interviews with Executive Chefs who hold together over 50 Michelin stars.
However Living in Monaco is significantly different from his other books. It is not a travel book, it is an ultimate guideline to those who are aiming to get a glimpse about the real Monaco and who have the desire to relocate their personal or business life to the Principality.
The book explains the benefits of the relocation (both for private and business reasons), the life quality in the Principality, and reveals how can one capitalise the unseen treasures and business potentials of Monaco. The “Relocation and what it takes” chapter also explains all the tiny details, traps, tips and best practices while it offers a detailed overview of the administrative mechanism of the Principality.
One of the interesting part of the book is the second part which focuses on the people, the opportunities, and the traps in Monaco. It offers a first hand guidance to avoid to fell for the catchy workings and the illusions of luxury. Understanding the real-life examples one can truly enjoy the Principality with all its safety and protective legal systems for families and businesses.
Is this the most important exhibition of 2018? Take a look at the impressive retrospective of Delacroix at the Louvre The show contains some of the painter's most famous and most outrageous works. "The genius of Delacroix is not debatable, it is not demonstrable, it is something that you feel," wrote the French writer Alexandre Dumas.
When He Was not Making History, Winston Churchill Made Paintings At the age of 40, Sir Winston Churchill found himself at a career low: After the World War I attack he ordered Gallipoli, Turkey, got horrifically awry, he was demoted from his role as Lord of the Admiralty in May 1915. He resigned from his government post and became an officer in the army. Deflated or power and consumed with anxiety, he took up an unexpected new hobby: painting. "Painting came to my rescue in a most trying time," Churchill would write later in the 1920s, in essays that would turn into a small book, Painting as a Pastime.
Beynac-et-Cazenac Art Works and History / firmly connected with its past, in relation to the rock on which it is built, is a beautiful village that has retained all its medieval charm. GUSTAVE LOISEAU 1865 - 1935 PAYSAGE DE DORDOGNE Beynac, the strategic importance of the Cliff and its plateau had a direct influence on the architectural approach to the defense works. Populated since the Bronze Age, this location was "naturally" protected and became the object of numerous desires. This limestone building, anchored on the banks of the Dordogne River, became the object of many pages in history. Even if the Vézère valley was known for its prehistoric remains from the many paleolithic sites, the caves and shelters built in the rock at Beynac also testify to the presence of reindeer hunters who had inhabited the area close to the river. Read more on >> Art-Pierre Kind regards, Pierre
Comments
Post a Comment
Thank you for your response
Kind regards Pierre