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Located in Western Europe, Monaco is wedged between Italy and France. This is a beautiful destination that is also flanked by sea. Though, the country is so small just like a city, theoretically it is considered as a country. This destination reflects an eclectic mix of traditionalism with modernism. One can find old architectural marvels besides modern buildings. The gentle climate of this place attracts a lot of visitors to enjoy a perfect vacation. Moreover, many people decide to settle in this place and enjoy its calm and quiet environment. This destination houses only 32, 000 people and 2 square km of its total area faces the Mediterranean Sea. When it comes to the real estate sector, a boom period can be witnessed as this is the place where Formula 1 Grand Prix races and cultural events are organized. All these events lure a lot of people to this amazing destination. Highest mean selling price per sq m of property can be witnessed in this country which is higher than any other place in the world. If you are willing to make a real estate investment in Monaco, you will come across a lot of promising options. A luxurious residence may be available at 46,000 Euros per square metres or $66,500 per square metres. If the residence is available at Avenue Princess Grace, the selling price may further augment to 100,000 Euros since this place is close to the shore. Only some selected few or highly fortunate buyers can buy properties in this area. Many uber rich people invest in the real estate sector in Monaco as this investment helps them to avoid taxes on inheritance and capital gains. Many famous athletes have also chosen this destination to settle down or enjoy a blissful time once in a while. Though, the offers for apartments have gone down by 25 percent in numerous districts since 2010, the interest in this sector has not waned a lot. The time when Grand Prix is being held, a sudden surge in real estate prices is witnessed. People buy apartments facing the racing ground from where they can enjoy the thrill and excitement of this race while sitting in the comfort of their balconies. Another area which is popular for investments is Larvotto district. Here the selling price undergoes a little fluctuation and hovers between 30,000 Euros to 50,000 Euros. Two bedroom set with 80 square m area along with a roof side is a good option. Pastor family constructed this building in the decade of 60s and the leasing price of these apartments is close to 3500 Euros. Principality also offers reasonably priced properties to cater to the demands of middle class families. Some Italian mansions that are quite enchanting are also available for rent or lease. For 40 million Euros, a 600 sq m complex is also available at the princely palace. Since this destination has a relatively restricted area, the prices of properties are quite steep, yet people are ready to make investments in this destination in the real estate sector.
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