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Property for sale in Monaco is the most expensive in the world. Prime properties can sell for
Prices for real estate in Monaco are constantly on the rise because this Mediterranean is popular with the world’s most affluent citizens. Before the financial crisis of 2008, prices gained 50% and during this decade prices have been rising 10% per annum as there is no land to be developed. Monaco is a very small political entity that is only 6% the size of Manhattan and 3% of Hong Kong. Engineers have conquered land from the sea which has already added 20% to the area of this tiny state. At the same time, building have been getting taller to combat the lack of space.
The most sales of property in Monaco to foreign citizens are in Monte Carlo. Spacious residences for sale bordering on luxurious hotels are particularly popular around the Carre d'Or district near the casino.