The most expensive real estate in Europe

04.11.2013 01:15
Articles about real estate | The most expensive real estate in Europe Monaco is a small state on the Ligurian sea, which each is associated with luxury and by being selected. And it is here that real estate prices can reach astronomical indicators. ONAKO - an example of successful development. Half a century ago about the Principality of the many and not heard, now this place is a limit of dreams of the world «cream» of the company , an indication of the peaks of success in life. The merit of this belongs to the Prince Ренью that your marrying a Hollywood film star grace Kelly, attracted into the country and aristocratic circles, and American investors.

The main magnet of this tiny state is a unique taxation for investors-residents. Marina Alexeeva, Director General JustReal Consult GmbH, notes that Monaco has no income tax, capital gains tax, gift tax, Image: the Most expensive real estate Европывладение real estate taxes on inheritance by European standards are very favorable. It is due to such conditions for doing business in the Principality come to live on the permanent residence of the richest people of the world.

Related article: European Bank predicts a further fall in property prices in Greece

This whole tax haven can be obtained together with a residence permit. Marina Алесеева notes that in recent years to make it easier. Right to a residence permit are pupils, students and patients undergoing treatment in the French clinics. It is suitable for people with long-term job contracts or with enough money on the account in a local Bank. In any case, the positive decision on the residence permit is taken when a sufficient amount of money for life in Monaco and in the presence of housing in ownership or contract of employment. Ekaterina Thain, partner Chesterton, adds that «the government of Monaco is loyal to the Russians. It is ready to grant a trustworthy citizens. This does not require the global confirm the «whiteness» of money, but should be obvious that the source of income is legal. And here it is important to understand that a residence permit in the Principality give to those who really is going to live here.»

In addition to the lack of taxes Monaco attracts security, developed infrastructure, secure banking system, a good education and fabulous shopping. Specialists JustReal Consult GmbH report that is 35 986 people has 300 policemen and 200 private detectives. Throughout the territory of the Principality are hidden video cameras that record even minor violations. And if there is a serious Image: the Most expensive real estate Европыинцидент, the police will arrive within 5 minutes.
Real estate

As already mentioned rates are high. Ekaterina Thain says «the old houses of the price of a square meter is from 20 to 30 thousand Euro for square meter in a new modern house with underground Parking for 40 to 50 thousand Euro for square meter. Rent elite apartments in the centre can be 10-15 thousand euros per month, rent apartments with 2-3 bedrooms will cost 3-4 thousands, Studio can cost 1-2 thousand». According to JustReal Consult GmbH cost of a square meter in the most prestigious zone of Monaco, the Carre d'or, up to 100 thousand Euro. In addition, we must know that when the purchase and sale of real estate and the seller, and the buyer pay the agent's Commission, equal to 3 %. Also, when buying 6 % of the cost of housing is paid to the notary, and the sale must pay a Commission of 5 %.

Such a high price is due primarily small territory, and the limitations of the proposals. Ekaterina Thain says: «As is known, Monaco is a very small city. Here live for a total of 36 000 population of about 200 hectares For comparison, municipal district «Arbat» occupies the territory in 211 ha, and the residents of the 28 000 people. Accordingly, the real estate market here is very limited. A few years ago, when Europe has a serious toughening of tax policy, some major financial corporations have begun to examine the question of the relocation of its Image: the Most expensive real estate Европыштаб-apartments, with a purpose of tax optimization. Of course, discussed and Monaco. It would seem the perfect solution - a developed and respectable European state with tax exemptions, location on the Cote d'azur. But in the process to find out details such as the elementary lack of offices, residences for placement of employees, as well as the lack of places in schools. But if some company decides to relocate in Monaco, there is a risk of reduction of volume of the offer to a minimum.

And even with the high cost of housing demand remains high. To support and satisfaction, as noted сМарина Alekseeva JustReal Consult GmbH, we have to find ways to increase the number of proposals. Construction companies are demolished old slum housing, make the embankment into the sea, build modern high-rise 20-30 floors.

If we talk about the investment attractiveness of housing, remember that real estate prices grow slowly here, a maximum of 1-2 % per year.

But in any case, a Paradise for rich is in this life. And it's called - Monaco. 
Content tags: Overseas property
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