2022-11-24
3 facts about Monaco
Did you know that Monaco is surprisingly cheap in terms of living costs?
The recent Economist Intelligence report on "Worldwide Cost of Living 2021" reveals that the Principality of Monaco is nowhere to be seen in the latest ranking of the most expensive cities to live in.
The Economist Intelligence report explores the rise and fall of living costs in 173 cities, measured against impactful global events.
On average, prices for goods and services have risen by 3.5% year-on-year, the highest inflation rate seen in the last five years. Having said that, Tel Aviv tops the rankings, making it the most expensive city in the world to live in. The Israeli city is followed by Paris, Singapore, Zurich, and Hong Kong.
However, as an interesting contrast, the Principality has the most expensive real estate market in the world, yet given the lack of space, apartments are generally much smaller than elsewhere.
We can say that Monaco is one of the most densely populated independent countries in the world. It also has a consequently competitive housing market with the average property only changing hands every 37 years.
Did you know that the Principality of Monaco is voted to be one of the happiest places to live on Earth?
The Principality of Monaco is an independent diamond on the Mediterranean offering invaluable benefits for its residents.
For instance, the standard of living in the Principality is excellent, the life expectancy is 89.5 years, the lengthiest in the world. Monaco has first-class medical facilities in all aspects of medicine.
An air of positivity, peace, and luxury shines throughout the country and its culture each day. The whole environment is ideal to create a positive day for anyone.
Monaco offers almost 300 sunny days during the year with an annual average temperature of 16.6°C. The temperature rarely goes lower than 10°C in winter.
The country has a very good reputation when it comes to education. Furthermore, because of the general safety, most children take the bus to school unaccompanied.
The Principality of Monaco is one of the most secure places in Europe with the world's highest police to population ratio. Even the celebrities who are frequent visitors in Monaco can walk through without their bodyguards.
Did you know that Monaco offers car license plates for non-residents?
One of the interesting facts is that one can be a Monaco car licence plate holder without being actually a resident of the Principality of Monaco.
Typically, anyone who has a Monégasque ID card or a residence permit can register his/her vehicle in the Principality. However, in the case that you do not have a residency in Monaco, but own a Monaco-based property, and can prove that you have a parking space for your car for the period when you are not in the Principality of Monaco, you are also eligible to request the registration of your vehicle in the Principality of Monaco on an annual basis.
The annual car license plates have a very interesting function.
The Monégasque coat of arms is engraved on the left side of the rear plate with the year number to attest that tax has been paid. By updating your license plate you also prove that you paid all your duties, less than a 100 Euros a year.
