10/03/2024
Monaco's appeal continues to rise among high-net-worth individuals (HNWIs) due to geopolitical uncertainty, higher taxes, and privacy concerns. Monaco’s residency rules favor larger homes, driving up demand for bigger properties. Though 2023 saw a decline in total sales, property prices have remained resilient, with a 38% rise over the past decade. Developers are responding by building more spacious units, and major projects are expected to boost new housing. Tax changes across Europe, especially in the UK, are also pushing HNWIs toward Monaco.