Europe and Tax Harmonisation
'This is highly unlikely,' contend YourMonaco.com, 'There are influential figures in the EU who have been pushing for tax harmonisation across EU countries for some time now, and while it is unlikely to happen as Britian would veto any move towards this, it would kill the goose that lays the golden egg for Monaco, and far from leading Monaco to the world stage on important issues like the environment and the Third World, it would lead Monaco to being little more than a European backwater with the Grand Prix and casino as her main attractions'.
Transfer Money Overseas.Due to her tax status property prices in Monaco are among the highest in the world.
Typical of Monaco real estate prices are a one bedroom apartment without views of the Mediterranean at 880,000 Euros - after closing costs nearer to a million - 1,950,000 Euros for a two bedroom apartment, and expect to pay between three and four million Euros for a good three bedroom apartment with sea views and parking space.
Buyers from the UK have increased significantly in the last couple of years, and demand from them has helped push property price inflation to close to ten per cent a year.
For the future, YourMonaco predict that prices will continue to rise for the short and medium term, but are keen to state that real estate, like any other commodity, can dip in value on occasion as well as rise.
Aside from the obvious tax advantages residents enjoy, many buy for the race in May which draws ten of thousands of tourists to the Principality at the end of May on an annual basis, while the Monaco Yacht Show in September is an increasingly popular event.
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