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Cap D’Ail, Monaco. Property courtesy Pinkwater Select.

Monaco is the richest and most glamorous country in the world, known for its high average income and individual wealth and for being the location of one of the most dramatic Formula 1 Grand Prix circuits in the sport.

Homes in the tiny Principality have long been beyond the reach of buyers without bottomless pockets and yet its property market is accelerating.

Monaco saw record property sales in 2014 and looks set to do the same this year, according to global real estate advisor Savills. The Principality’s status as a tax haven makes it an attractive place to establish residence for wealthy people from all over the world. A significant number of residents are from a variety of nationalities and many are celebrities, making Monaco synonymous with wealth, power, fame and prestige the world over.

View more Monaco properties at Pinkwater Select