Monaco real estate just had its hottest year ever

Monaco ranks behind Hong Kong as the priciest real estate in the world. Prime property goes for $10,700 per square foot in Hong Kong; $9,000 in Monaco; and $6,100 in New York.

Monaco is a magnet for the world’s richest people. At just 6% the size of Manhattan, the city state boasts the highest concentration of ultra wealthy individuals, enticed by its zero rate of income tax and global appeal.

The Mediterranean city is a playground for the rich and famous, studded with super yachts and other signs of luxury living. Savills say the super rich usually pair a home in Monaco with another in London, New York or Moscow.

Read the entire article at WMUR.