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Month: February 2023

Foreign tourists inject €58 billion into the French economy

by: Cassandra Tanti
28/02/2023

France pulled in €57.9 billion from international tourism in 2022, a record for the country.

According to government tourism agency Atout France, the latest figures show that the country achieved “record” numbers last year.

“At the end of December 2022, receipts from international tourism in France were up by €1.2 billion compared to their level of 2019,” the agency states on their site. “This result is explained by the return of European and American customers but also by inflation which mechanically increases revenue in value.”

On the other hand, the flow of travellers from Asia, in particular from China and Japan, still remains very weak.

The foreign customers who spent the most in France in 2022 are nationals of three border countries: Belgium with €7.3 billion, Germany with €6.5 billion, and the United Kingdom with €6.2 billion.

The United States ranks fifth with $5.6 billion in cumulative spending in 2022.

After “good” activity during the Christmas holidays and in mountain areas despite a poor start to the snow season, Atout France is looking with “certain optimism” to the first quarter of 2023, “despite a context that is still difficult” economically and geopolitically with the war in Ukraine.

 

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Photo of Annecy by Monaco Life

Football: Two more years of Aleksandr Golovin at Monaco

by: Luke Entwistle
28/02/2023

AS Monaco have announced the extension of Aleksandr Golovin’s contract at the club. The Russian playmaker is now committed to Les Monégasques until 2026.

Golovin is in his fifth season at Monaco after joining from Russian side CSKA Moscow for €30m back in 2018. He joined the club off the back of an impressive campaign for his national team at the World Cup, and is this season showcasing his most promising run of form for the side.

This season, Golovin has six goals and seven assists for Monaco in 35 appaearances in all competitions. Over the duration of his time with the Principality club, the midfielder has made 166 appearances, scoring 20 goals and registering 26 assists.

“I thank the club for this show of confidence.”

However, Golovin’s contract was due to expire in 2024, and the club were therefore keen to tie him down to a more long-term deal. Monaco Life understands that there was a common desire to continue their collaboration, and that has now manfisted in a two-year contract renewal, taking his stay in Monaco until the summer of 2026.

Speaking in a press release, Golovin said, “I am very happy to continue the adventure with AS Monaco and I thank the club for this show of confidence. This opportunity that was offered to me, to sign up long-term and continue my progression here represents a great satisfaction.”

The Russian international continued, “Once again this year, the team is having a good run in the league and I’m very motivated by the idea of continuing to help the team in order to finish as high as possible and reach our objectives.”

 

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Photo by Monaco Life

AS MONACO: Oleg Petrov leaves, Ekaterina Sartori Ryboloveva becomes vice-president

by: Luke Entwistle
28/02/2023
Monaco Petrov Rybolovleva

The daughter of AS Monaco President Dmitry Rybolovlev, Ekaterina Sartori Rybolovleva, has taken over as vice-president of the club following the resignation of Oleg Petrov.

Oleg Petrov replaced Vadim Vasilyev in 2019 and had been the club’s vice-president until last summer, when the club underwent an organisational shift and Jean-Emmanuel De Witt joined the club as General Director. Since that change, Petrov has been the vice president of the administrative council at AS Monaco, as well as the club’s representative of the European Club Association (ECA).

Photo of (left to right) Paul Mitchell, Vanderson and Oleg Petrov by Monaco Life

However, Petrov, who is now closely tied with the Principality’s basketball team, AS Monaco Basketball, has stepped back from his role in the football club. His resignation has been accepted by owner and president Dmitry Rybolovlev.

Juan Sartori takes more prominent role at Monaco

Juan Sartori, co-owner of Sunderland AFC and son-in-law of Monaco owner Rybolovlev, will take over as Monaco’s ECA representative.

Photo of (left to right) Juan Sartori, Ekaterina Sartori Rybolovleva, Prince Albert II and Jean-Jacques Raffaele by Monaco Life

Ekaterina Sartori Rybolovleva becomes vice-president

Ben Lambrecht, who replaced De Witt as Monaco’s CEO in December 2022, as well as Stéphane Morandi, the president’s advisor, have joined the administrative council as new members.

The council convened on Monday and elected Rybolovlev’s daughter and the wife of Sartori, Ekaterina Sartori Rybolovleva, as the new vice-president of the club. Her work on the council dates back almost 12 years.

 

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Photo of Ekaterina Satrori Rybolovleva, Prince Albert II and Juan Sartori by Monaco Life

Gazelles Rally: Womens cross-country rally to depart from Monaco in a race to Morocco

by: Elsa Carpenter
27/02/2023
gazelles rally

From a start line on the Place du Palais, this weekend will see eight teams from the Rallye Aïcha des Gazelles du Maroc’s 100% electric categories depart on a two-week cross-terrain race to Essaouïra. 

Racing officially begins on Saturday 4th March for the 32rd edition of the Rallye Aïcha des Gazelles du Maroc, often called the Gazelles Rally. Monaco has the honour of hosting the start line event for two of the competing categories – the e-Gazelle Innovation and e-Gazelle Auto – at 9.30am while Nice will see competitors from the 4×4, Crossover and SSV-Quad groups depart from the Promenade des Anglais later the same day at 3pm. 

In total, 380 women aged between 20 and 64, and representing 10 countries worldwide will be taking part in the cross-country rally, which has its sights set on an arrival in the Moroccan city of Essaouïra on 18th March after hitting Sète in France then the hinterland of Morocco following a sea-transfer.  

The two 100% electric categories were a first in the world of raid rallying when they were launched in 2017 with the support of the Fondation Prince Albert II.  

The vehicles competing this year include buggies and prototypes as well as a Volvo XC40 Recharge. Each will be closely monitored in order to “measure and optimise their performance, range and charging conditions”, the latter of which will be made possible thanks to a mobile photovoltaic charging point.  

A Monegasque team and a duo from the Provence-Alpes-Côte d’Azur will be taking part in the e-racing, and it will be possible to meet with the teams departing Monaco ahead of the 9.30am start time.  

To find out more about the Rallye Aïcha des Gazelles du Maroc, please click here.  

  

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Photo source: Gazelles Rally / Rallye Aïcha des Gazelles du Maroc

The city of Nice and its low-risk, high-profit potential for real estate investors

by: Stephanie Horsman
27/02/2023
nice real estate

Properties in Nice, one of the Top 10 investment cities in France for real estate according to a new report, are a hot commodity. Is it time to get in on the action?

Buying investment properties may seem like risky business, but in the case of Nice, it is far less so, according to a new report put out by Capital.fr last week. In the report, the capital of the Côte d’Azur came out as the sixth most recommended in France for real estate investment and particularly as a rental venture.

The criteria for selecting the best investment cities included several factors, such as the gross rental yield, meaning the ratio between the annual rent that can be expected by the landlord before taxes and charges, and the average purchase price of property in the city. The more this rate is, the more profitable the investment is expected to be.

It also considered the ease of finding tenants, how long it takes for owners to sell their homes in the area, and the ratio between the total number of sellers and buyers in the locale.

In the case of Nice, despite having rather a high per-square-metre cost, hovering at €5,045/m2, the rental rate per-square-metre was a solid €18.10, making it the highest in the top eight cities on the list.

It takes only 70 days on average to sell a property in Nice, which is reasonable on the national scale, and the rental market is off the charts, with very high demand making leasing a property extremely easy.

Nice’s appeal goes beyond the obvious beaches and blue skies. It boasts plentiful cultural sites and establishments, high-quality and varied dining options, excellent local transportation and a close proximity to Italy, Monaco and Cannes.

Marseille, France’s second largest city, came in first position in the report.

  

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Photo source: Joachim Lesne for Unsplash 

 

Photos: Incredible €46 million glass house hits the market in St. Jean Cap Ferrat

by: Cassandra Tanti
27/02/2023

A villa made entirely of glass and stainless steel in the ultra-luxurious town of St. Jean Cap Ferrat has gone on the market for €46 million. Monaco Life takes you inside this Jean Nouvel-designed masterpiece.

With Villa Ephrussi de Rothschild as its neighbour, this spacious property on the western coastline of the most sought-after peninsula in France already commands attention.

But the dramatically modern villa is exceptional in itself.

Designed by award-winning French architect Jean Nouvel, the modern residence incorporates linear elements with a unique use of material to create a building that seamlessly integrates with its surroundings, and where space and views reign supreme.

The €46 million property is for sale with Savills French Riviera. Photo courtesy Savills

“I have always had a keen interest in the works designed by Jean Nouvel and meeting him allowed me to better understand his talent,” says the anonymous property owner, who has entrusted the sale of the villa to Savills.

It was this meeting that led to a collaboration between the pair, which the owner confirms was “a truly interactive relationship which allowed for the exchange of ideas and concepts, ultimately allowing for the creation of this exceptional residence”.

The villa spans 4,000 square metres and offers direct views across the Bay of Villefranche.

The property boasts uninterrupted views of the Bay of Villefranche. Photo courtesy Savills

The intelligent use of steel and glass, together with limited divisional walls, ensures an open atmosphere to the property, where one spacious room flows onto another, all while taking in the unspoilt Mediterranean views.

“Such intelligent use of glass, stainless steel, shaded vines and minimal internal divisional walls ensures the sea remains the constant view throughout the home and acts as a captivating backdrop to this luxuriously dramatic villa,” says Savills agent Cyrille Jalon.

The property includes nearly 600sqm of accommodation including a double height reception room, six bedrooms, two elegant swimming pools, and a five-car garage.

It has an asking price of €46 million and is listed with Savills.

 

Click on the images below to see more photos of the property…

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SEE ALSO:

Monaco Real Estate: The private new builds that are changing Monaco’s landscape

All photos courtesy of Savills.