A recent study of the global property market has put Monaco and the French Riviera at the top of the prime property ladder.
Enness Global, a high-net-worth mortgage broker, has recently analysed property prices across 17 go-to destinations for the world’s wealthiest home owners. From the Maldives to Mallorca, the Côte d’Azur to Cape Town, 35,000 properties were looked at. After comparing the playgrounds of the super rich, the top 10 revealed the French Riviera and Monaco to be the most expensive places to live.
Taking the top spot is the French Riviera, where the average price is just short of €21.5 (£19) million. Following closely behind is Monaco, which along with Dubai, makes up the only two city destinations in the top 10. Averaging €16.5 (£14.7) million a property, Monaco and the French Riviera are the only two locations with prices well above the eight figure mark.
Premier housing market unaffected by Covid-19
Despite the current health crisis, the premier property market has been largely untouched by Covid-19. Prices in the Principality and the Riviera have remained robust and sellers have seen a sustained demand. According to Hugh Wade-Jones, Managing Director of Ennes Global Mortgages: “Reputation is everything when it comes to the property preferences of the super-wealthy and they don’t get much stronger than the Côte d’Azur and Monaco.”
>> READ MORE: How has Monaco’s real estate market reacted to the pandemic?