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Day: 3 February 2020

2019 real estate trends

by: Stephanie Horsman
03/02/2020

Despite a shortage of new properties on the market last year, €2.8 billion worth of real-estate transactions took place in Monaco in 2019, with three-bedroom resale apartments doubling in value, according to statistics body IMSEE.
Latest real estate figures from the Institut Monégasque de la Statistique et des Études Économiques (IMSEE) show that 2019 saw a drop in the number of real estate transactions in the Principality, due mainly to the fact that less new properties were available for sale. Only nine new apartments that had been planned were delivered, leaving the rest to “off-plan” sales, which limited the decline.
Prices per square metre dropped slightly as well, from €48,800 to €48,150, but IMSEE says this is a natural reaction to the steep increase seen in 2018, which saw the most transactions since 2006, due in no small part to the delivery of the four blocks of the Stella building.
Studios were the most popular transactions last year with 14 sold, encompassing 42.4% of total real estate sales, despite the fact they were on the market for 20% more than in 2018. None were sold the previous year, showing a market trend toward this type of apartment. One-bedroom apartments took the biggest hit, with only eight sold in 2019 compared to 57 the previous year, though IMSEE again points to lack of availability.
The median sale price increased by almost 9% to €3.4 million and the average price nearly doubled due to the sales of exceptional properties. Of the 33 new-property sales last year, the lion’s share was less than €5 million, consistent with the sale of smaller studio apartments. But those that went for more than €10 million increased to nine in 2019, leaving only two sold in the medium range of €5 to €10 million.

As for resales, the biggest leap was seen in the purchase of three-bedroom apartments, up by 24.4%. The biggest drop was in two-bedrooms, which fell by just over 28%. This is rather remarkable given that the price of a three-bedroom apartment rose by over 50% on the previous year, whereas the price of a two-bedroom fell by around a quarter. Resales accounted for 429 total sales in 2019.
The average price for resales went up by almost 12%, and the median by 8.6%, again with most apartments – 288 – being sold in the under €5 million range, followed by the €5 to €10 million purchases, with the over €10 millions still accounting for 60 sales.
The cumulative amount of transactions in total, both sales and resale, increased 4.4% to a mammoth €2.8 billion. All in all, it was a very positive year for the Monegasque property market, despite little in the way of new product, which is due to be rectified in 2020.
 
 
 

Monaco faces disappointing loss to Nîmes

by: Stephanie Horsman
03/02/2020

After a promising start, AS Monaco has fallen to Nîmes 1-3 away on Saturday.

The Red and Whites were looking good at the beginning of the match against 19th ranked Nîmes Olympique on Saturday night. A Wissam Ben Yedder goal at the quarter hour mark opened the scoring and put them ahead. It was a spectacular play, tucking the ball between the posts despite an awkward angle, and gave Ben Yedder his 15th goal of the season, whilst giving newbie Fofana the assist.

But then, around the half hour mark, everything went haywire. Florian Miguel evened up the score as Bakayoko fouled Romain Philippoteaux whilst trying to recover the ball after a bit of poor ball control. He got the yellow card for his trouble, but after the play was reviewed on video, the decision was changed, and the referee sent him off. When Gelson Martins stepped in to argue the call, he too was red carded and sent his marching orders and additionally, Fofana was booked as well.

With seriously bad luck on their tails, the Red and Whites were then two men down with 15 minutes still on the clock until halftime, punished for a foul that appeared to many to only warrant a warning. Though struggling, Monaco managed to keep it together and not concede any goals by the half.

After the break, there was some excellent ball-handling on both sides, and at the 62nd minute, all that good play was converted into a goal by Nîmes’s Philippoteaux. Moreno’s men struck back 10 minutes later when Ben Yedder almost made his second goal of the night, but was thwarted by Bernardoni, ostensibly as payback for his earlier goal.

Down by one, the match seemed far from over until the 79th, when Martinez snuck one in from the corner. Sadly, Monaco wasn’t able to even things up again, and in the end the score held firm at 1-3.

AS Monaco faces Angers tonight at Stade Louis II.

 
Photo source: AS Monaco

Monaco Rugby loss at Supersevens

by: Stephanie Horsman
03/02/2020

Monaco Rugby Sevens Supersevens inaugural team made it all the way to the quarter finals before falling to Stade Français 19-26 on Saturday at the Paris-La Défense Arena.

The Monaco Rugby Sevens team, despite being founded just last year, fought its way to the quarter finals of the new French Supersevens, officially called In Extensio Supersevens until 2023, which was organised for the first time this year by the National League of Rugby.

The Monegasque team is made up primarily of South African players who have been part of the world circuit, and therefore, despite not having played together more than a handful of times, were the odds-on favourites. Perhaps it was lack of experience working together as a team, or simply an over-abundance of confidence that led them to cede the victory to the Parisian team, landing them in 7th place overall. 

The Supersevens is comprised of 14 teams from France, one from Monaco and one invitee. Each team is made up of 20 players. Fifteen of the players are “regulars”, of which three must be professionals, then four “wildcards” from the France sevens, and one who is currently without a club or who plays internationally and specialises in rugby sevens’ tournaments.

This year’s winners were Racing 92, who beat out Section Paloise for the top spot 28-12.

 
 

Exhibition to celebrate circus festival

by: Staff Writer
03/02/2020

To celebrate the 2020 International Monaco Circus Festival, YellowKorner Monte Carlo hosted a cocktail reception to present ‘The Show Must Glow On’ exhibition by street artist Dario Vella.
Friends, guests and art lovers had the opportunity to meet the talented artist and talk about the collection ‘The Show Must Glow On’, which includes paintings that present the lights and animals of a circus show.

Dario Vella, street artist, Leonidas Kambanis, Managing Director YellowKorner Monte Carlo

Guests also had the unique opportunity to watch a live performance from Dario Vella and receive a personalised signed copy of the exhibition catalogue.
 

“We are proud and excited about hosting the art collection of Dario Vella in the YellowKorner Monte Carlo,” said Leonidas Kambanis, Managing Director of YellowKorner Monte Carlo. “Our gallery, which opened its doors a few months ago, proves to be an elegant modern exhibition venue while keeping up with the tradition of the brand.”

YellowKorner is a publisher of accessible art, offering photography in limited editions, exhibiting and commercialising the art of photographs of more than 200 artists. YellowKorner promotes talents through a network of more than 100 galleries worldwide.
 
 

'Ocean Amazon' Irina Peterson sets off

by:
03/02/2020

Monaco’s Irina Peterson has embarked on the first leg of her adventure of a lifetime and is bringing Monaco Life readers updates on her incredible journey to help save the Oceans. 
Via my Ocean Amazon platform, I aim to raise awareness of the fragility of our marine life, the ocean’s role in regulating climate and therefore the impact on our lives. Another goal is to inspire women to love and navigate the oceans, having an important presence in the sailing world, and a pivotal role as global agents of change.
I will be the only representative of the Principality of Monaco on-board eXXpedition voyages and as such, giving a voice to the HSH Prince Albert II of Monaco Foundation’s environmental concerns and solution-based projects. I departed on 02.02.2020, the first stage of my Ocean Amazon project taking me to Galapagos where I will be volunteering with Charles Darwin Foundation and documenting various environmental challenges on the islands. Setting sails on 15th February in the Galapagos with the eXXpedition vessel, I will be navigating and researching with the rest of the female crew until arriving in Easter Island on 4th of March.

Irina Peterson with Olivier Wenden, Vice President of the Prince Albert II of Monaco Foundation

My love for the oceans was ignited in childhood, when I discovered Jacques-Yves Cousteau’s documentaries. Despite a tiny black and white TV at home, I was mesmerised by the underwater “Silent World”. The legendary explorer became an inspiration and I went on to dive and sail in many diverse places as my love for the ocean grew immensely. For this gift, I will be forever grateful and it is now time to pay it forward.
I hope that my Ocean Amazon documentary will be able to inspire younger generations to love and protect our oceans and the environment in general.
2020 brings with it a society that is slowly but surely waking up to the reality and scale of the plastic problem and damage to our oceans and our lives. That’s why, more than ever, the accumulation of new data by scientific exploration is crucial. The Ocean Amazon documentary presents a golden opportunity to travel through the eye of the South Pacific Gyre and assess the most current status of the garbage patch.
Although photographic images and research on the South Pacific Garbage Patch exist, never before has a film team had the opportunity to be at the heart of such an operation. The contribution to the scientific world and the viewers of this film will be unique perspectives of discovery through the skilful eyes of two great cinematographers going above, and below.
I am an imperfect human and an imperfect activist. But I am learning, and I promise that I’m going to continue to try my best. I truly believe that what the world needs right now is not a handful of perfect people being the perfect solution. We need 7.5 billion people, imperfect like me and you, willing to try our best each day – when we can, how we can, where we can, and in all the ways we can to take more responsibility for our actions that impact the environment.
You can follow my voyage and mission on:
Facebook: @oceanamazone
Instagram: @oceanamazon

Day 0: The journey begins, 0202-2020
Many people have asked me why I chose this day to start? It’s because I wanted it to be special, very special, so that we will all remember. 02-02-2020 is a palindromic date – when a date written out numerically is the same when turned back-to-front. No matter your culture and how you write the date, it will be the same: mm/dd/yyyy or dd/mm/yyyy or yyyymmdd. It happens once in the millenium (Until 03-03-3030)
This date is also a very unique and powerful day. Named Imbolc Day, or Purification Day, it is the midpoint between the Soltstice and Equinox, and is a celebration of Mother Earth. And that’s what this date is about, the start of a great “purification”, of our oceans and planet. Because everything starts with the first step in the right direction. The mission of my voyage and research is to raise awareness about the state of our oceans and also raise our consciousness to make changes in our every day life to be kinder to the environment. So let’s celebrate this purification, promise of renewal, of infinite potential, of Earth awakening and the life force stirring. It is time to let go of the past and to look to the future, clearing out the old, the pollution and plastic garbage and feel empowered of all we can achieve!
 
 
Read also :
Women in Monaco: Irina Peterson
 

Markets weekly

by:
03/02/2020

Survey data on the health of leading economies kicks off the week, with the final January purchasing managers’ index (PMI) readings from China, the eurozone, the UK and the US.
China’s Caixin and the US IHS Markit PMI data have both indicated that the two economies have managed to keep expanding. With the recent improvement in trade talks, the final data will reveal if growth can be furthered. With regards to the US, the Institute for Supply Management readings will be closely watched after they signalled contraction in manufacturing in recent months.
The PMI data will reinforce whether the UK has experienced a post-election bounce in manufacturing and services activity, as the flash PMI indicated, and if the eurozone continues to show signs of recovery (albeit from a contracting manufacturing base) in the midst of easing global trade tensions.
In the eurozone, the consumer has managed to keep the economy afloat. December retail sales data on the Wednesday will show if consumption strengthened in the run-up to Christmas, after 2.2% year-on-year growth in November.
Ending the week is the January non-farm payrolls data in the US. While the unemployment rate remained at noticeably low levels in December at 3.5% and real earnings remain positive, the non-farm payroll number disappointed in December at 145,000, especially given the revising lower of employment readings in prior months.
January trade data from China is also on Friday. The data will reveal the impact on the country’s export-heavy economy of a recent de-escalation in trade wars with the US and the signing of the “phase-one” deal. December’s trade surplus was revised up $0.5bn to $47.2 bn.

Climate change: time for investors to evolve

The last decade was the warmest since records began in 1850 and projections anticipate that temperatures will get hotter still.
Climate change has become a priority for many financiers, business leaders and politicians alike. For instance, climate change is a focus topic at this month’s World Economic Forum in Davos. However, solutions to one of the world’s most pressing challenges may not be emerging fast enough.
The increase in average temperatures is the primary indicator of climate change and driver of many of its effects. Since 1850, 17 of the warmest years on record have occurred in the last 18 years. The world is on average one degree Celsius hotter than it was between 1850 and 1900 (see chart). An increase of one additional degree to average annual temperatures is seen as the threshold to “severe, widespread, and irreversible” effects of a climate breakdown.
In addition to the temperature record, ocean temperatures last year were the highest on record – leading to more ocean acidification, sea-level rise and extreme weather. Both of these measures indicate that the “climate crisis” has reached a new level and rapid measures are needed to speed up the process of cutting greenhouse gas emissions.

With climate seemingly inevitable in an uncertain world, investors can no longer disregard the risks when making investment decisions. Industries and companies working towards reducing the impact of climate change, accelerating energy transition and improving infrastructure are likely to profit the most from increased spending and accommodative policy measures focused around climate change.

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