The Natural Second Home For The Wealthy

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It’s hard to argue that anywhere in particular is a natural second home - but for those who have made some money Monaco fits the description well.

Located alongside the French Riveria it is bordered on three sides by France and the Mediterranean on the other, while Italy is just a twenty minutes drive or train ride from Monte Carlo.

But it isn’t just the location, fabulous though it is, that is attractive to the wealthy. Nor is it that just ten minutes away by helicopter lies Nice International Airport.

It’s a combination of freedom from personal taxation coupled with the security expected by those with money expect – and in Monaco they get -the ability to be able to walk around town unhindered and safe is priceless.

One policeman per hundred residents, most apartment buildings enjoying a 24 hour professional concierge and street CCTV gives an assurance of a high level of personal security. Combine that with the wealthy being among their own and it’s a feeling of comfort as well as security that’s a very real one for residents in the Principality.

Online banking means that you don’t need a physical bank closeby anymore to conduct business – for those business people that don’t need either to be in their office 24/7 the world is their oyster – and Monaco the pearl.

But the good news for those that do want a bank to be able to visit, discuss financial affairs and get advice, Monaco has all the major international players present.

The banks are staffed by those in the industry who have international experience, and the expertise to be able to assist with wealth management, business transactions along with providing everyday banking facilities- and that’s important for successful businessmen and women.

Well known banks in the Principality include Barclays, Lloyds TSB, Coutts and HSBC Monaco plus others from around Europe.

Typically studio apartments start at a million Euros, one bedroom apartments one and a half million Euros, a good three bedroom two bathroom apartment seven million Euros while a four bedroom four bathroom penthouse in one of the best buildings with Mediterranean views will be selling for fifteen million Euros or more. Not for nothing has property in Monaco earned itself the reputation of being among the most expensive real estate in the world.

But for those who are millionaires but aren’t in the multi million pound property bracket quite yet there is the option of renting, with one bedroom apartments starting at around 3,000 Euros a calendar month.

Either way, the security of living in Monaco is deemed to be worth the price for many of the world’s wealthiest citizens, which is why it’s regarded as the natural second home for the wealthy.

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