2024-10-23-莱坊-Monaco_Residential_Market_Insight_2024_4页_553kb

Monaco remains a highly attractive safe haven for high-net-worth individuals, driven by its status as a low-tax jurisdiction with strong security and privacy. The millionaire population is projected to grow by 43% by 2029, with ultra-high-net-worth individuals seeking refuge due to geopolitical tensions and policy changes in Europe, such as the UK's non-dom rules and inheritance tax uncertainties. Property market analysis shows prices rising 38% over the last decade, with a 1% increase in 2024, despite a 10% year-on-year sales decline in 2023 primarily from smaller apartment resales, due to new residency rules requiring properties matching household size. Key projects include Bay House and Mareterra, both contributing to future supply. Neighborhoods vary in price, with Fontvieille and La Rousse Larvotto being the most expensive. Residency requires a minimum 183 days stay or an investment scheme depositing €500,000 or more, while purchase costs include taxes. Sustainability efforts aim for carbon neutrality. Overall, Monaco's market is strong despite short-term challenges.