10 Jan How to Live the Monte Carlo Lifestyle on a Credit Crunch Budget! French Riviera Investment Property
Monaco – this mythical principality is a magnet to the world’s rich and powerful who gravitate towards this 2km independent state (the 2nd smallest after Vatican City) attracted by its famous tax laws, the high levels of security provided by its incredibly efficient police force and the glitzy and glam social life on offer.
Here you can rest assured that you’ll be rubbing shoulders with the most elite of the beautiful people – from real James Bond types through to supermodel types – all of whom sit comfortably alongside the oligarchs, the billionaire property developers, Euro royalty – as well as Shirley Bassey and Ringo Starr! The eye-popping Lamborghinis and Aston Martins lazing around Casino Square as well as the mega yachts moored in the turquoise bay are testament to the fact that the credit crunch hasn’t affected everyone quite so badly.
Property for sale in this tiny principality on the Cote d’Azur is rare and worth a not-so-small fortune with even modest studios starting at around a million euros – a small price to pay for those requiring a tax bolt-hole in a divine location just a short private-jet flight to London – as well as access to a lifestyle where the neighbours are regulars in Tatler’s social pages and the climate is Cote d’Azur heaven.
The Grand Prix is undoubtedly the social highlight of the year and first-class nightclubs such as Jimmy’z, the Amber Lounge and the Sea Lounge, Michelin starred restaurants such as the celebrated Louis XV and of course the legendary Monte Carlo Casino being must-sees on the jet-set’s social circuit.
The outrageous luxury on offer here is out of the reach of most mortals… But for those of us who do need to tighten our belts there IS a way to live the Monte Carlo lifestyle on a Credit Crunch budget!
Whereas a little 2 bed apartment in Monaco will set you back around 5 million (and the rest – take a look at some of our Monaco properties for sale on our website!) a 2 bed in Beausoleil, just a 2 minute stroll to Casino square, can be found for under 400,000 euros – if you’re prepared to give it a lick of paint then even 350 000 euros can get you a good sized apartment in this little-known location.
Beausoleil borders on Monaco and the centre is a pretty and lively place with an excellent food market which on Sundays spills into the streets to include clothing and household items. There are superb bakeries and supermarkets as well as all the cafés and restaurants, boutiques and other amenities you’d expect on your doorstep and of course the shopping mecca of Monaco literally just over the road! The predominant architecture in the central streets of Beausoleil is the much-loved French Bourgeois style and the overall feeling is genteel elegance.
From the centre you are but a few minutes walk to the heart of Monte Carlo, the Casino, the Hotel de Paris, the exquisite restaurants and the amazing shops. In fact Rue de France in Beausoleil is Monaco on one pavement and Beausoleil on the next!
This is a first class spot for anyone wanting to live the Monaco lifestyle on a credit crunch budget! One British lady who recently bought on Boulevard de la Republique is delighted with her recent purchase “It takes me just a couple of minutes to wander down to Monte Carlo Casino from my front door. I can sit and take my morning croissant in the Café de Paris yet I can hear the accordion player on a Saturday morning at Beausoleil market place just next to my flat so I’ve got a great mix of cosmopolitan sophistication and local French atmosphere. Beausoleil centre feels like a village to me as I already know the shop owners and the locals…it’s a really friendly place and the centre is small enough to get to know everyone. I share the same neighbourhood shops, bars and restaurants as some of the richest people in the world and yet I bought my 2 bedroom flat in a lovely French building just a few meters from the Monaco border for just 360 000 euros. It needed renovation but I’ve still got a bargain and for a fraction of the price I’d have had to pay one street further down where the Monaco border begins”.
Beausoleil is also a great spot for Cote d’Azur rental investment too as so many of the people who work in Monaco (all the large private banks, accountancy firms, wealth management firms and yacht brokers are based there) need somewhere to live since only the mega rich can afford Monaco – therefore Beausoleil is a first class choice – your property will never be short of a tenant should you wish to rent it out!
Beware though as Beausoleil does sprawl out climbing up the hills towards the Grande Corniche… and not all areas are equal! The very best places to purchase are obviously those in the very centre which are also closest to Monaco – around Beausoleil market area, Monaco train station and near Beausoleil town hall.
Boulevard de la Republique, Boulevard de France and all the streets in between are first class investment locations as Monte Carlo can be reached on foot. Parking in this town centre location is difficult to you’ll be lucky to find a property with a garage (unless you invest in a new build) but monthly rates in the local car parks are around 120 euros per month should you require one but with first class bus and train services on your doorstep a car it not a strict necessity.