Indeed, at just over three quarters of a square mile (1.9 sq km), and with a population of more than 38,000, space within Monaco is, unsurprisingly, scarce.
“There aren’t a lot of new private developments in Monaco, so, of course, there is a high demand for luxury properties, Locchi said. “The market is still active, not only for resales but also for off-plan properties.”
Prices have risen by 60 percent for the last 10 years and tend to appreciate steeply over time. “Political stability, economic growth, a favorable tax environment, and 100 percent security make the principality unique, an environment like no other,” Locchi said, also noting that the average life expectancy in Monaco is 87.01 years—the longest on earth.
