FOR SALE €5.35m
FOR SALE €45m
choosing to relocate to Monaco for tax pur- poses and to start a family,' comments Greg Thain from Chesterton Humbert' s Côte d'Azur office. `Monaco is establishing itself as family friendly. It' s recently opened the Ni Box leisure centre with a skating rink, bowling and games area.' Having brought up three daughters in the city, Mrs Luke is convinced the principality doesn' t play its ` family card' nearly enough. Despite ` the psychological hurdle of living in an apartment, it is a won- derful place to bring up children. It' s safe and sociable, but it also has an excellent infrastructure and plenty of activities.' There are several schools and a university
specialising in luxury marketing. The inter- national school, the ISM, has recently expanded, and has some of the highest Inter- national Baccalaureate results in Europe. Young people in Monaco have more free-
dom than in other countries, according to Mr Gabriel. His daughter, now 19, took the public bus to school from the age of eight.
` The bus driver knew her by name and would make sure she got off at the right stop.' The safety aspect is a major draw for parents,
says Tim Swannie, of property search agents Home Hunts (00 33 970 44 66 43). ` There are more policemen per head than anywhere else in the world. And there is always some- thing going on to keep children occupied
Ð parks, pools, football and rugby clubs, plus you have the French and Italian rivieras on your doorstep and the Alps just behind.'
www.countrylife.co.uk/international
Top of the range This brand-new six-bedroom apart- ment of 720sq m has direct access to the marina, a pool and fitness centre and space for cars. Other opportuni- ties are available in this block. Monaco Villas (00 377 97 70 10 10)
It' s essential to obtain professional advice
prior to applying for residency in Monaco, but the process is relatively straightforward
Ð if time-consumingÐ for British nationals. Applicants are required to prove they have funds of between €250,000 and €1 million in a bank (the exact amount is at the discre- tion of the Bank of Monaco). They must have a letter from the UK police confirming that they are of good standing and be available for interview with the head of police in Monaco. Unlike other the Channel Islands or
Switzerland, where residency is dependent upon home ownership, a year' s lease is enough in Monaco. Indeed, Mrs Luke would always advise a buyer to rent for at least a year before committing to a purchase. Rental prices have come down over the
past couple of years, and are comparable to those of prime central London. For a quality two-bedroom apartment with views, in a central location, you should expect to pay between €8,000 and €12,000 per month. The Larvotto area is a particularly popular with families as it' s near the beach and many
of the apartments have sea views. But the properties that command the highest prices are in the Golden Square area near the Grand Casino or along Avenue Princesse Grace. Homes in Fontveille, a quieter area with good shops and restaurants and close to the marina, cost up to 25% less. Nonetheless, a studio anywhere in Monaco rarely sells for less than €1 million and two-bedroom apart- ments start at €2 million. ` Monaco is always a safe investment because there simply isn' t any more land available,' s ays Mr Gabriel. Only very occasionally will a new devel-
opment appear on the market, such as No 23 Boulevard du Belgique, a complex of 21 freehold apartments, in the residential area of Moneghetti in the west, which launched recently. Prices start at €5.35 million. Monaco' s only drawback, says Mrs Luke,
is that it can feel Disneyesque. But when it comes to bringing up a family, this can only be positive, she believes. ` There' s always so much going on and the sun is usually shin- ing. Often, it' s the husbands that find our lively lifestyle hardest to adjust to.'
Country Life International, Summer 2011 53
Views to die for No 23 Boulevard de Belgique is a new development of 21 apartments, all with private terraces. Properties have between two and six bedrooms and
access to a concierge and garage. PVN Real Estate Investments (00 377 97 70 70 20)
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