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Throughout its history, the tiny Principality of Monaco, situated on
the Cote d’Azur, has repeatedly managed to retain its independence
against the most extraordinary odds. Ever since Francois Grimaldi
first infiltrated the fortress of Monaco in January 1297, the ruling
family has always fought to regain control of its territory. Steeped
in a rich and colourful history, this quite possibly explains why
many consider it to be one of Europe's most fascinating countries.
Although a country with a strong heritage, Monaco has not been slow
to implement change where necessary. When Prince Rainier ascended to
the throne in 1949, he was determined to ensure that his tiny state
was competitive on the international stage, without sacrificing its
culture and traditions. This is evident from
the thriving nature of the state and its economy today. Although the
Principality covers an area smaller than Hyde Park, today people
visit Monaco and its glittering district Monte-Carlo not simply to
holiday or test their luck but to make it their home. Indeed, the
number of Monaco nationals (Monegasques) is less than that of
non-Monegasque residents.
Monaco has long been regarded as a tax haven, attracting the foreign
financial elite and commanding higher property prices than those
found in its neighbouring France. After WWII, Monaco gradually
became a favourite tax haven for French industrialists looking to
avoid France’s rising tax rates. This loss of revenue prompted
former President Charles de Gaulle to declare Monaco’s tax haven
status a danger to France, and a new treaty was drawn up and signed
by Monaco’s rulers. Since 1957, under the new treaty, any French
citizen taking up residence in Monaco has to pay income taxes.
However, it provides that Monegasques and foreigners stay exempt
from French income taxes.
Celine Berry, manager of the John Taylor agency explains, “The
Principality of Monaco is well-known for its excellent quality of
life, cleanliness, feeling of security, and for the way in which
people are educated to show respect for others. Previously, we found
businessmen were looking for small apartments just for themselves
but now they are taking advantage of all that Monaco has to offer
and buying larger family properties for relocation. The space
available, the view and the proximity to schools and shops are very
important criteria to our clientele. Comfort and security are the
most important factors people consider when moving to the
Principality nowadays. Our clients mainly come from Northern Europe
and Italy but interest from Hong Kong and North America is
increasing.”
The Principality’s real estate sector is second to none, with
prestige apartments such as this in an elegant building, The Garden
House, opposite the Jardin Exotique, the Principality’s largest
park. With breathtaking views over Monaco, the ports and the French
and Italian coastlines, this apartment comprises spacious living
space plus terrace, two bedrooms with en suite bathrooms, a double
living room, large and well-equipped kitchen and a pantry. Facing
south-southwest, the property offers easy access to all local
amenities and the Place du Casino is just a few minutes drive or a
25-minute walk via the public elevator network.
Terrasses du Port is a small, new development in Monte-Carlo.
Currently available within it are two separate fourth-floor
apartments which can be joined to form one spacious four¬bedroom and
bathroom property. Aptly named Roof Atlantis, it boasts an amazing
panoramic view over the sea from its roof garden. The apartment also
has a beautiful private terrace with Jacuzzi, solarium, arbour and
barbecue.
This magnificent three-bedroom apartment is within a small building
and has been renovated and decorated to an exceptionally high
standard. It boasts a panoramic view of the Port of Monaco, the Rock
and the sea and has a full southern aspect for maximum sunshine all
day long. While the apartment has no parking, there is the
possibility of renting this facility from the next door building.
Drive time
Monaco features a wide calendar of events perfect for those who are
passionate about motor-racing and classic cars.
Monaco Grand Prix
First held in 1929, this is one of the world’s greatest and most
challenging motor-racing events. Staged around the narrow, winding
streets of Monte-Carlo every May, the 78-lap circuit offers
wonderful opportunities for spectators to witness the thrill of
Formula One racing at close hand.
Monte-Carlo Automobile Rally
Created in 1911 and held in January each year, the Monte-Carlo Rally
brings together around 100 experienced teams who tackle some of
Southern France’s most testing routes.
Monaco Grand Prix Historique
Started in 1997 and taking place every two years, this event has
gained in popularity, largely due to its unique opportunity for
spectators to ride in one of the competing vintage and classic cars.
The race features different categories, from cars that competed
before 1947 to those with their engine at the front or back, but
also vehicles with drum brakes or stunning prototype cars. The event
was held in May this year and so, unfortunately, there’s a bit of a
wait for the next in 2006.
Top Marques
In April, Monaco hosted the first Top Marques, a unique car show
featuring vehicles with exceptional characteristics, from high
performance to top-end luxury. Some of the most glamourous makes
were present including Bentley, Aston Martin, Ferrari, Lotus,
Lamborghini, Morgan Cars, Porsche etc. Dates for next year’s show
are yet to be confirmed but it will remain in Monaco.
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