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The Savills Blog

Why does Monaco attract such a diverse international community?

There has been a recent influx of fintech and crypto personalities which is bringing a new dynamic to the demographic of Monaco, whilst housing demand remains strong with locals, young families and business professionals looking to relocate. In this blog, we look at the reasons why Monaco attracts such a diverse international community. 

In 2021 the average price per square metre topped a historical landmark figure of €51,000, making Monaco the most expensive location in the world to buy residential property. The market has also been seen as a safe place for investment during difficult global macroeconomic conditions. 

Schooling

Monaco offers a number of French and international educational options to its residents, including conventional schooling alongside the Modelex Education Academic Centre, which provides bespoke academic programs for families – especially those entering and leaving Monaco. Educational institutions are approved by the Department of Education, Youth and Sport, and can be divided into state, private and independent institutions. The International School of Monaco will be moving into bespoke new premises in the state-of-the-art Bay House building which will have fantastic facilities such as a lecture theatre and advanced sports facilities.

The government is also investing in futureproof skills for children from 3 to 18 who have one hour of coding instruction per week to enable them to face the business challenges of the future. There will also be a new British school opening in the Principality in September. The mission of this new school will be ‘To provide Monaco families with a British curriculum school that offers a nurturing community and an innovative learning environment, enabling students to evolve into their best authentic selves.’ Find out more here.

Contact us today to explore Monaco property options. 

Safety

Monaco is one of the safest places in the world with a large police force providing on average one police officer for every 70 residents. The crime level is low and a lot of buildings have a 24/7 concierge protecting the interests and affairs of the building’s residents.  

Government focus on digital transformation 

There has been a strong interest from the government to invest in digital infrastructure with Monaco’s small scale allowing for progressive technologies to be trialled and used for the benefit of the population. The Principality was the first country in the world to have full 5G coverage. The country's access to significant financial resources is also a benefit, allowing them to make substantial investments in technology and infrastructure. The Extended Monaco initiative also assists established enterprises, giving them financial incentives to embrace digital change. As a result, the country as a whole will benefit.

Networking

For business professionals, Monaco provides a fantastic opportunity for residents to network with a wide range of business professionals who often have highly specialised knowledge of one or more business areas operating on a global level. There is a range of networking clubs and private members clubs that help facilitate both personal and business connections.

Art

Art has a significant position in Monegasque culture and society. There is no shortage of museums, galleries, and sculptures open to the public throughout the Principality, including prominent displays of art that span several centuries.

Sports and events

Monaco has some of the world's most famous events, including the F1 Grand Prix, showjumping, art exhibitions and more, which you can find in our Monaco events blog.

Contact us today to explore Monaco property options.

 

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