Industry leaders say now is the time to invest in Monaco real estate.
At a recent breakfast debate organized by the CDE and the Observateur de Monaco, President of the Chambre Immobiliere de Monaco Michel Dotta, and Jean-Luc Gauberti of CFM bank encouraged prospective property buyers to invest in Monaco. Although prices in the Principality continue to top the world rankings at 27,000 euros per square metre, they say that low interest rates make the market attractive. Gauberti warned that buyers need to invest now before rates begin to rise again.
Repeating some of his previous arguments [1], Dotta explained that after 34 years of constant growth, followed by an explosive increase from the end of 1997 through 1998, prices have recently come down and are now stable. He also gave an insight into the market within the Principality, where buildings are rated using a star system. Park Palace is considered a 5 star location, whereas the Perigord ranks as 2 star.
Links:
[1] http://www.monaco-iq.com/Has-property-bottomed-out
[2] http://www.nicematin.com/article/immobilier/immobilier-c’est-le-moment-d’acheter