Business & Finance
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The latest Knight Frank Prime Global Cities Index has reconfirmed Monaco as having the most expensive real estate worldwide.
The top-end agency reports that $1 million (€954,000) buys only 17 square metres in the Principality, less than in any other city. While prices continue to increase each year, with a 10 percent jump in 2015, Knight Frank says that high demand and a limited supply have caused property prices to rise by 27.8 percent over the past five years.
Largely due to a surge of buyers from Asia, Vancouver had the fastest house price growth of any city during the 12 months to September 2016, with an average increase of 32 percent. Later in the year, demand was somewhat dampened when British Columbia introduced a 15 percent transaction tax for foreign buyers. (Feature image: Photo: Tobi 87)
China's Chimelong Group has participated as a partner in the Monte-Carlo International Circus Festival for the first time ever, deepening the friendship between China and Monaco.
More than 350 economic players came together for the first MEB Members Meeting of the year, during which a full calendar of events for 2020 was unveiled.
Company news will pick up pace this week, with fourth-quarter earnings being published for more than 800 companies. That said, key macro data and economic news will also remain on investors’ watch list.
The Monegasque Department of Labour is taking its commitment to the Extended Monaco programme to the next level with a restructured system for employees and job seekers.