- Monaco is the most expensive place in the world to buy luxury housing.
- Knight Frank 2025’s wealth report indicates that $ 1 million buy only 205 square feet of first -rate residential property.
- The tax haven is tiny and densely populated, so there is very little space to rely.
A million dollars will only buy you almost a space for a parking space in Monaco.
It is according to the Knight Frank Wealth report this year, which found that $ 1 million will only buy 19 square meters, about 205 square feet, of main residential property in the French Riviera microstat.
In comparison, the same amount would allow you 34 square meters (around 366 square feet) in New York – the sixth most expensive market in the luxury field.
Hong Kong is ranked second, followed by Singapore, Geneva and London.
Monaco remains a magnet for the Superriat due to its lack of income or taxes on capital gains, as well as its favorable climate and its high quality health care.
However, housing costs are exceptionally high. Monaco was also the most expensive luxury rental market in the world last year.
A Knight Frank analysis of May 2024 revealed that the rental of a 1,100 square foot property in Monaco begins at around $ 19,350 per month. A budget of $ 30,000 would probably only extend to a modest two -bedroom apartment.
The prices of the extreme properties of Monaco are driven by a lack of space to build more properties, which leads to a limited housing offer.
Only 510 acres, Monaco is the smallest sovereign state in the world after the city of the Vatican.
For the prospect, the constitutional monarchy is smaller than Central Park in New York, which covers 843 acres, while the whole city covers around 200,000 acres.
According to the latest data from the World Bank, Monaco is also the most densely populated country, with 18,681 people per square kilometer.
To approach space constraints, Monaco has recovered sea lands for decades. In 2019, Savills said that he was investing more than $ 2 billion to extend the Monaco coast of 15 additional acres, creating houses for around 1,000 people.
businessinsider
