Monaco is a thriving city accessible by air or sea
Real estate is one of the industries that has been thriving for a long time. In this industry lies great opportunities, developers and forward thinking investors such as Michele Tecchia. Tecchia is one of the people who ventured into real estate after noticing its high growth potential in the industry. Tecchia has achieved great milestones in his venture and this you can tell from several projects he has been involved in, including development and adding value to properties.
Real estate investment takes many forms, including commercial, retail, land, publicly traded real estate investment trusts, mutual funds and real estate company stocks.
In this article we want to focus on real estate in Monaco and explain why it may just be a great destination for any real estate investor. Monaco is one the places where Tecchia practiced his real estate skills. He has earned tremendous experience in the industry and accumulated more than $10 million in investments. It is for this reason that we are picking Tecchia’s mind on why Monaco is the best destination to invest in real estate.
Monaco is known for luxurious flats, apartments, hotels and other infrastructures. According to Tecchia it is not easy to find a listing with the correct location, design and price in Monaco whether you want to sell or buy a home. This doesn’t however mean that the market is full of competition and no space for new investors, instead it is likely to become more exclusive in the future given the current growth and appreciation rate.
Monaco has a population of over one million people and an urban area roughly the size of New York City. As a result, it’s no surprise that the city has a thriving real estate market with some of the best-equipped agents and investors in the world including Michele Tecchia.
The city is also well-known for prestige and famous casinos, something that has contributed in attracting wealthy individuals from all over the world who want to establish their presence in the world’s premier playground for living large and high.
Below are Michele Tecchia thoughts on real estate investment in the city of Monaco
1. Great Location
Monaco is situated in possibly one of the best locations in the world with legendary luxurious looking buidling.This port city provides amazing access to thoroughfares like the Grand Prix. The city is also located only a few miles from Nice Airport.
2. Monaco Is Easy To Access Through Sea And Air
Given its location, Monaco also has easy access by sea or air to famous international hubs including Paris and London, as well as some Mediterranean cities such as Barcelona and Marseille. This makes it a perfect destination for those looking for a good lifestyle as well as real estate investment.
3. Monaco is Full of Art and Culture
Despite its small size, Monaco’s capital, which is also the old town, Val de Grace, has a lot of beautiful architecture. Arsenal Stables, the Prince’s Palace,Casino Monte-Carlo, Cours Saleya district with its park Hôtel Salé palace, Hôtel de Paris, and Palais Princier are all UNESCO World Heritage Sites.
Visitors can go to the old town to see some fantastic art galleries. They can also visit the Cimiez district, which is home to many of Europe’s most famous art collections, including the Musée de La Poste and Picasso Museum.
4. Excellent Lifestyle
When you consider the availability and price points of Palm Beach-style villas in the principality, the city’s luxury lifestyle options are nearly limitless. With the city’s insanely high property values, there’s no reason not to indulge in a little shopping spree here and there. Even if you don’t want to purchase a new home, you can rent out your current one or invest in a rental property for a higher return on investment! Places like this are hard to come by elsewhere.
5. Continuously Growing Luxury Market
For many years Monaco has been known as a playground for the wealthy from all over the world. Monte Carlo has attracted several wealthy individuals in Europe because Monaco offers great tax relief for people who want to settle or invest in the city.
According to Michele Tecchia, since the luxury companies were willing to pay out huge amounts at auction for areas within the seaside towns including Florida for tax incentive from the local government, investment in Monaco made a lot of sense for most new investors.
Given that Monaco is one of the most sought after places for residential and commercial property investment. It has continued to attract the most wealthy clients in the last 10 years.
Why is Real Estate a Great Investment?
Real estate has always been a profitable investment, particularly in rapidly growing cities. As a result, an increasing number of people are looking to invest in real estate in Monaco. According to Tecchia real estate is one of the most secure investments you can make because its value is not relying on any other sector.
Furthermore, real estate is one of the most stable assets you can own. Due to the limited number of properties available for sale and purchase in many urban centers, including Monaco, all properties have the same resale value. This means that if you decide to sell your property later, there will be very minimal depreciation.
In case you are wondering what the future has in store for the real estate sector in Monaco, you can check the upcoming economic changes in the country. Monaco will soon transition to a more stable and sustainable economy. This change will be driven by the new economic policies, with the objective of minimizing government debt and unnecessary spending.
Conclusion
Michele Tecchia believes the real estate industry in Monaco is growing and will continue to do so. This is because there are numerous options for investors who want to buy property in this beautiful principality. Monaco provides different unique amenities such as excellent architecture and most profound private schools. These are the factors that help to drive up prices and demand in the real estate industry.
