The Monaco Life journalists behind the headlines this week talk Monaco real estate, whisky investment and passion spending habits, binge watching Netflix’s new Drive to Survive series, Monaco football club management becoming a Russian family affair, and how we figured out which F1 drivers actually live in Monaco.
Featuring Editor in Chief: Cassandra Tanti, Editor and Journalist Elsa Carpenter, News and Lifestyle Journalist Stephanie Horsman, and Sports Journalist Luke Entwistle.
To listen to the podcast, simply click play in the box below…
The Principality of Monaco has always been a magnet for Formula 1 drivers, both past and present, and almost half of the 2023 Formula 1 grid are currently residing in Monaco.
Monaco is a global hub for motor racing. As well as hosting the Monaco Grand Prix, arguably the most iconic race in the world, it also hosts other races such as the Monte-Carlo Rally, the Historic Grand Prix, and the Monaco ePrix.
This is part of what makes Monaco such an attractive place to live for drivers. The tradition of Formula 1 drivers moving to the Principality is engrained. Former World Champions Mika Hakkinen, Jenson Button and Nico Rosberg are all based in Monaco, whilst former stars such as David Coulthard, Mark Webber, Paul Di Resta, Antonio Giovanazzi and Daniil Kvyat also reside in the Principality.
Why do F1 drivers live in Monaco?
There are many reasons why F1 drivers flock to Monaco. The temperate climate year-long is a big draw; the fact it is English-speaking is a plus; its central location in Europe makes it an ideal base given that many of the races still take place on the continent; and there is also an element of following the crowd. Despite Formula 1 being a pressure-cooker environment, and whilst relationships can often be strained, many on the grid are very close, and it is therefore natural that they live close to one another.
“Where I’ve moved to (Monaco), there are quite a lot of people that I know there, quite a lot of the drivers are there, so there’s a bit more of a social life,” said Lewis Hamilton upon his move from Switzerland to Monaco back in 2012.
Charles Leclerc during the 2022 Monaco Grand Prix. Photo credit: Scuderia Ferrari Press Office
However, the principal motivation for moving to Monaco is often financial. McLaren driver Lando Norris, who revealed his move to the Principality in December 2021, said, “People do many things in life for money. This is just another one.”
The British driver, who is entering his fifth season in Formula 1, added, “It’s something that obviously a lot of drivers go to do and especially, with how racing is, I think we’ve seen for other drivers how quickly things can also go downhill.” Monaco is a tax haven, meaning that residents don’t have to pay personal income taxes.
This year, nine of the current grid, consisting of 20 world-class drivers, currently reside in Monaco, whilst another, George Russell, is said to be considering a move to the Principality and has been spotted around the area with increasing frequency as of late. Monaco Life takes you through Monaco’s current crop of F1 stars.
Max Verstappen
The current World Champion has been living in Monaco since October 2015, and currently resides in Fontvieille. The Dutchman had previously been living in Belgium. The Red Bull driver beat Hamilton to win his first title in 2021 before winning the 2022 championship at a canter. Verstappen denies moving to Monaco for financial reasons, stating at the time that his salary “has not changed”. Verstappen is expected to move to Maraterra, the new coastal district under construction in Monaco, upon completion of the works in 2025.
Charles Leclerc
Leclerc is not just a resident, but a citizen. The 25-year-old Ferrari driver has been living in the Principality since birth, and reportedly currently resides in the Jardin Exotique area. The Monégasque knows the streets of Monte-Carlo well, but is yet to pick up his first race on the streets on which he grew up. Perhaps 2023 will finally be his year.
Lando Norris
The McLaren driver, who made the move in 2021, reportedly lives in Monte-Carlo. The Brit moved from Surrey to the Riviera and cited financial reasons for his move to Monaco.
Sergio Perez
The Red Bull driver lives in the Principality, and last season won his first Monaco Grand Prix, profiting from tactical errors by the Ferrari team to take the chequered flag on the iconic streets of Monte-Carlo.
Valtteri Bottas
The Finnish driver, who currently races for Alfa Romeo, lives in Port Hercule. An avid cyclist, he like many others in the Principality such as Mark Webber, make the most of the mountainous local roads and can be seen cycling on the haute, moyenne or basse Corniche, which leads you all the way to Nice. Bottas also competed in the maiden edition of the Beking event in 2021.
Alex Albon
The Williams driver, who has British and Thai nationality, lives just three minutes away from the paddock during the time of the Monaco Grand Prix. He revealed in an interview with last year’s teammate Nicolas Latifi that by June 2022, he had only spent one month of the year actually in the Principality due to frequent visits to the simulator in the UK. Albon stated financial reasons as a motive, joking with his teammate that he wants “to keep his money”. He added, “Beyond the obvious [financial] reasons, Monaco is just a nice place, the weather is consistently nice and it’s quite quiet.”
Nyck De Vries
The Dutch driver is set to take part in his debut season in Formula 1 with Alpha Tauri. The 2020/21 Formula E champion has previously said that he likes the communal element of living in Monaco. “I think it is a very sporty community. It is very international and welcoming. Everyone is very open and it is very easy to make contacts and friends. There are lots of sportspeople, especially in racing. It is just a nice vibe. I have the sea in front of me and then the mountains. I am very happy [in Monaco] at the moment,” he said in an interview with The Star.
Nico Hulkenberg
The German is making a return to Formula 1 this season with Haas. He previously revealed that the beauty of the local area was a driving force for his move to the Principality, but another factor was his reported pre-race ritual. Hulkenberg likes to sleep at home the night before a race, and living in the Principality allows him to do that on the eve of the Monaco Grand Prix.
Lewis Hamilton
The British driver, who will once again drive for Mercedes this season, holds the joint record for World Championships, which he shares with Michael Schumacher. Hamilton reportedly lives in Monte-Carlo after making the move from Switzerland to Monaco back in 2012.
Does George Russell live in Monaco?
The residence of the British driver is currently unclear. Although the London resident doesn’t officially live in the Principality, he has been spotted in Monaco with increasing frequency of late. Russell has reportedly set his sights on moving to Monaco for some time but has previously been hindered from doing so, most recently due to uncertainty surrounding his seat for the 2022 season.
However, as an established Mercedes driver, he may now have made the move. He has been spotted at Nice Côte d’Azur airport, as well as at some restaurants around Monaco, where he has dined with team principal and resident of the Principality Toto Wolff. Nothing is confirmed, but the signs are – seemingly – that he is close to, or already has, moved to Monaco.
Does Fernando Alonso live in Monaco?
Aston Martin driver Fernando Alonso’s residency status is also unclear. It is thought that he still lives in his native Spain, but the former World Champion is also regularly spotted around Monaco. Be it running on the digue or dining at Cipriani in Monte-Carlo, he certainly has a regular presence in the Principality, and perhaps more.
Nine current Formula 1 drivers are confirmed to be living in Monaco, and if the residences of Russell and Alonso are confirmed, then over half of the 2023 grid would be based in the Principality. The host country of arguably the most iconic Grand Prix is the home of motorsport in more ways than one.
The first stone has been laid for Beausoleil’s new cultural centre, Village Charlot, whose features will include a free library with books from all over the world.
Early renderings of the new community centre were unveiled by the Beausoleil Town Hall in October 2022. On Tuesday 28th February, Beausoleil Mayor Gérard Spinelli, ceremoniously laid the first stone for the construction of the €18.5 million project.
“The challenge is to create a place that promotes exchanges between the communities of Beausoleil, which tend to stay together, to offer them a common vision,” said Mayor Spinelli. “Culture is an essential element in the cohesion between inhabitants, and that is why we want to make it accessible to as many people as possible.”
It is for that reason, said the mayor, that Village Charlot will be free for all, regardless of the space they enter.
The Village Charlot media library will be flooded with natural light. Image rendering by architect Marc Barani.
A new culture hub in just over a year
The entire project is due to be delivered as soon as July 2024. Located between Avenue du Maréchal Foch and Avenue du Carnier in Beausoleil, Village Charlot will feature a media library, a toy library, a room for artistic expression, a digital museum, a restaurant area, a philosophy café, a social centre, an artists’ residence plus four large workshops, and 1,300sqm of manicured gardens.
With glass as its main architectural feature, the media library will look like a large greenhouse, designed to be flooded with natural light. “We wanted the culture to be visible from the street, whether on Avenue Foch or Avenue Carnier. This transparency will allow that to happen,” said project Architect Marc Barani.
The site was purchased by the local municipality in 2008 and the only property left standing on the plot is the 19th century Villa Chêne, which has been completely gutted and will be rejuvenated to form part of the new “village”.
Meanwhile, Villa Emilie – which had to be demolished, will be rebuilt identically to the original, with the addition of an extra floor. This will house the artists’ residence.
The media library will have a collection of more than 30,000 works, some of which will be international books.
The Village Charlot logo is made up of the face of Charlie Chaplin, aka “Charlot”, formed by the five continents of the globe.
Will Faimatea, founder of Monaco-based Bond International, has acquired 42% of leading tech event company Superyacht Technology Network.
Australian-born Faimatea is the founder and director of Bond International and co-founder of several other tech based companies including bringing the environmental Pathogen detection service Poppy to Monaco, as well as being a major contributor to Yacht Crew Help and Life After Yachting. He has scooped up a 42% share of the company, and will act in an advisory position rather than taking on a formal executive role.
SYT is looking to expand its operations, including the popular Superyacht Technology Show, and Faimatea’s 30-year track record will be instrumental. The 2024 Show is set to be four times the size of last year’s event, due to increased industry demand, and will include a 500-delegate capacity, featuring talks and conferences from leaders in both tech and super yachting sectors.
“I’m proud that an industry giant such as Will Faimatea recognises the potential of the next phase of SYT Network and he is the perfect collaborator,” said Director of SYT Network Jack Robinson. “This investment will allow us to more quickly achieve our goal to bring innovators and buyers together in the superyacht marketplace.”
The injection of funds will help boost operational teams that will be in charge of anticipated sales from new exhibitors from the worlds of engineering and green technology.
“I am excited to be personally involved with the Superyacht Technology Network which Jack has founded,” said Will Faimatea. “The platform represents and allows all those companies and owners, representatives and crew with technology focus a place to visit and experience the technologies and the people behind them.”
SYT Network was founded in 2022 by Jack Robinson after an 18-year superyacht industry career, where he was primarily involved in media and technology. His vision was to create a platform for superyacht businesses in IT and AV to grow through networking events. The company’s membership stands at 18,000 individuals and companies.
“Will’s vision for the future of superyacht technology mirrors my own and we both acknowledge the industry’s desire for a dedicated, stand-alone, technology show,” said Robinson. “We are committed to delivering such a focused show with the expanded Superyacht Technology Show planned for Barcelona in March 2024.”
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.
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…
New buildings with private residences are cropping up all over the Principality, boasting fantastic architecture, eco-friendly building practices and interesting extra features. Monaco Life takes a closer look at what’s on offer in the realm of new build real estate.
For a country only 2.1km2 in size, Monaco packs a big punch when it comes to housing. A number of high-end building sites are dotting the landscape, with the promise of giving residents old and new some pretty spectacular offerings to both buy and rent.
Here is a listing of the ones that are under construction, with off-plan apartments and villas already on the market.
MARETERRA
Arguably the most talked about of the new developments is the land reclamation project Mareterra (pictured above). This environmentally-minded neighbourhood in the Larvotto quarter features 110 impeccably finished apartments, penthouses and townhouses along with 10 villas, six of which are waterfront. A marina will have space for about 15 boats and will be encircled by cute and chic shops and eateries. The spaces will be move-in ready by 2025.
Special touches include swimming pools, a concierge, private parking and a gym at this Renzo Piano Building Workshop and Valode & Pistre Architects collaboration.
Beautifully landscaped with green spaces galore, the development was created to bring nature to residents’ front door with mature trees, native plants and flowers, insect hives, bird’s nests and plenty of shade to beat the heat on summer days.
The Portier Cove section is a pedestrian only zone and connects the area to the Grimaldi Forum and Larvotto Beach, while 600 metres of cycling lanes will make for ease in getting around.
The development’s eco-cred is off the charts, with 4,500m2 of solar panels, rainwater recovery systems that ensure half the collected water will be recycled, and 80% of the cooling and heating will be supplied by renewable energy. Strict building codes have kept marine flora and fauna safe, and man-made reefs have been built so that any wildlife disrupted by the construction can find a new home.
The final design of Testimonio II, with Bay House in the foreground, by DBOX for Groupe Marzocco
BAY HOUSE
Tied in with the Testimonio II project, the Bay House development has been built on the last large-scale plot in the country. Running from Boulevard d’Italie to Avenue Princesse Grace, the striking complex overlooks Larvotto Beach and is due for delivery in 2024.
Comprised of 54 apartments and five villas ranging from three to six bedrooms, this place was created for luxury living. Floor-to-ceiling windows and south-facing terraces offer stunning sea view vistas and the villas have their own roof terraces and pools to sweeten the pot.
Developed by Groupe Marzocco and VINCI Immobilier alongside Architect Alexandre Giraldi, everything is incredibly well thought out.
High quality finishings are coupled with high-tech automatic environment management systems, allowing owners and tenants to remotely control light, sunshades and air con, and the concierge benefits include housekeeping, dry-cleaning, valet and shuttle services. On-site parking is also included.
The spa is super-luxe and features massage rooms, steam rooms and saunas, a hair and beauty salon as well as state-of-the-art Technogym gym equipment.
L’Exotique in the upper western reaches of the Principality
L’EXOTIQUE
L’Exotique is one that is due to be completed this year. Tucked away in the upper reaches of the Principality near the Jardin Exotique, this quiet oasis has 66 apartments over eight floors all with panoramic sea and Palace views.
Built into the mountainside with plentiful wood and stone features, the apartments enjoy lots of natural light, and were designed by award-winning French architect and engineer Rudy Ricciotti, the principal architect behind the MUCEM in Marseille, together with well-known local architect Fabrice Notari.
The building forms part of the dramatic new western approach to the Principality, inspired by the colossal entryways used by the ancient Greeks, and will also house a 1,800-space parking garage as well as commercial units.
Additionally, there are on-site indoor and outdoor swimming pools, a wellness centre and a gym to unwind in.
The piece-de-resistance, though, is L’Exotique’s penthouse apartment: a two-storey, three-bedroom space offering tranquillity and luxurious comforts. The 420m2 terrace has a 360° view over the sea and terrain, and is elegantly draped in greenery.
Villa Ninetta, another design by local architect Fabrice Notari
VILLA NINETTA
This Fabrice Notari building will feature a stunning curved façade that follows the bend in the road on the quiet Rue Malbousquet in the Jarden Exotique quarter. It will have 42 dwellings, including 33 studios, seven two-room apartments, one three-room apartment and one four-room apartment as well as 207.60 m² of offices and 74 private parking spaces set over nine-floors.
There will be high-end finishings and amenities such as a 24-hour concierge service and fitness room.
The first apartments at Villa Ninetta are set to be completed in 2024.
GRAND IDA
Primarily state housing, the Grand Ida’s Building A does have 55 private apartments designed by Frédéric Genin, which will be up for grabs upon completion, set for this year.
The massive complex near the Jardin Exotique and Boulevard Rainier II will also include commercial premises, a crèche and a vast parking garage of more than 400 spaces for residents’ convenience. A residence for the disabled has also been incorporated into the complex’s design.
The construction has been certified Bronze Label under the environmental certifications of the Mediterranean sustainable buildings of Monaco, due to the vast 2,200m2 green spaces, solar panels on the tops of the roof terraces, and a direct link to the heating and cooling systems based at the waste recovery plant in Fontvieille. Thermal insulation and double paned glass will also feature.
Heritage against the contemporary at Ecrin de Malachite
ECRIN DE MALACHITE
Located both in the Moneghetti district and in the reserved sector of the Vallon Ste-Dévote, the Ecrin de Malachite project will be made up of three stand-alone villas with swimming pools and private gardens, and an apartment building with luxury homes all connected by glass covered walkways and an escalator.
Some features of architect Christian Curau’s designed spaces will include thermally heated swimming pools and automated systems for residents to control heat, lights and the like remotely. The project is set to be move-in ready in 2025.
VILLA LUCIA
Villa Lucia, on Pont Sainte-Dévote, is conveniently located adjacent to the entry to the train station in the heart of Monaco. The project was designed by the architect Alexandre Giraldi and will consist of 14 floors with nine apartments, including one apartment per floor for the first nine, then a quadruplex with a private swimming pool on the top floors of the building.
Tertiary premises will also be set up on the ground floor of the residence. Villa Lucia is set to be delivered in 2026.
Villa Lucia towers above the entrance to the Monte-Carlo train station, making it perfect for frequent travellers and commuters
LES MELEZES
Not a new build per se, but partially so with the addition of two new floors that will house 14 apartments.
The many improvements to the building and integrated into the new apartments include some serious environmental works. They are looking to make it a Mediterranean Sustainable Building of Monaco by reducing energy consumption via thermal expenditure and acoustic protection.
Polluting oil heating will be replaced by a connection to the thalasso-thermic loop to save on heating and cooling costs for tenants, and modified elevators will provide access to new floors and consume less energy.
