Located in the Riviera French, Monaco It was consolidated as one of the preferred destinations for individuals with greater purchasing power globally. However, this enclave of Two square kilometers It crosses an unusual phenomenon: an overpopulation of millionaires that has left the country practically No habitable space.
A report revealed that More than 30% of its inhabitants are millionaireswhich positions the principality as the place with greater concentration of wealth per square meter in the world. Despite his economic abundance, getting a place to reside in Monaco became an almost impossible task, even for ultra -ups.
The country experienced vertical growth on its slopes and an unprecedented population density: 38,000 people They live in an area less than many neighborhoods in the big Latin American cities. This situation intensifies in high seasons with the arrival of Thousands of touristscollapsing hotels and public spaces.
Beyond his glamorous image, Monaco’s true attraction lies in his Singular Tax Regime. According to The Guardianthe main reason for its appeal is the absence of income tax for natural persons from 1869when Prince Carlos III took that measure thanks to the growing income of the Casino de Montecarlo. Since then, Monaco became a Fiscal refuge for European elitesstrengthening its economic model.
This policy allows residents to avoid taxes about salaries, investments or inheritancesin contrast to the countries of the region where these rates can reach the 45%. In addition, despite using the euro and belong to Schengen space, Monaco is not part of the European Unionwhat gives you Great tax and regulations.
Luxury, exclusivity and urbanism
Monaco’s offer is completed with intense social life based on exclusive events, traditional casinos and a nightlife with the Mediterranean Sea. The favorable climate and its exclusive character raise demand over any territorial capacity.
He real estate market reflects this pressure: A survey cited by the BBC located Monaco as the most expensive city on the planetwith prices up to $ 40,000 per square meter In luxury departments. The most expensive attic in the country reached 335 million euros.
The constructions had to adapt to the ground: they grew towards the heights, occupied every corner of land and even excavated under the ground. Even so, the Environmental and urban limitations They stopped many initiatives. Given this physical limit, the Principality found another way to develop.
Mareterra’s peculiarity
In response to lack of space, Monaco launched the Mareterra projectan expansion to the sea driven by the Prince Alberto II in 2013. This new neighborhood was built on Six hectares won to the Mediterraneanwhich represents a Additional 3% of the national territory. It was inaugurated in December 2024after an investment of 2,000 million euros.
Urbanization includes apartments, houses, a sea, selected shops and public spacesbuilt on platforms concrete anchored to the seabed. With this project, Monaco takes up his tradition of maritime expansion initiated in 1907that it already covers a 25% of its total area.
Praise for sustainability and criticism for environmental impact
Mareterra was presented as a Ecological neighborhoodequipped with 9,000 square meters of solar panels, 200 stations for electric vehicles and 800 planted trees. Their underwater foundations have reliefs designed to facilitate the growth of marine species.
Despite these efforts, environmental organizations They alerted about irreversible damage in marine ecosystemspossible erosive processes and consequences for coastal fishing. Those responsible for the project defended the initiative with scientific studies that demonstrated The adaptation of marine flora After reintroduction, although the debate on its sustainability remains in force.
Although Mareterra is promoted as a solution to the lack of homes, its properties are not available to the average citizen. The price per square meter exceeds 100,000 eurosplacing this new urbanization between The most exclusive on the planet.
With this initiative, Monaco reinforces his profile as Global Fortune Refugealthough it is clear that, even in a paradise for the rich, The space is not infinite.
Source: Ambito
