Monaco The World’s Most Expensive Real Estate Market – Episode #109
Welcome to Monaco, the second smallest and the most densely populated country in the world. The state has no income tax and low business taxes, and is well known for being a tax haven. Monaco has the world’s highest life expectancy at almost 90 years, and the lowest unemployment rate at 0%, with over 48,000 workers who commute from France and Italy each day. For the third year in a row, Monaco in 2011 had the world’s most expensive real estate market, at $65,000 per square meter. According to the CIA World Factbook, Monaco, has the world’s lowest poverty rate, and the highest number or millionaires and billionaires per capita in the world.
Many of these pieces of real estate were gated and guarded by security and therefore very difficult to see in person. Even some of the high end hotels would not let you in unless you had reservations. But funny enough they had all the luxury cars sitting out in front of the Monte Carlo Casino where all the tourist would be drooling over, taking pictures beside them, and leaving their finger prints all over these cars.
Monaco was an incredible place to see, but I don’t really see a point in going back there unless Novak Djokovic wanted me to sell his house or if he wanted to challenge me in a tennis match. Otherwise, unless you are looking for the most expensive and luxurious income property, then a quick visit is all you need for this place.