The urban district of Monte Carlo covers an area of approximately 0.44 square kilometres. It is the largest administrative district of the principality. Monte Carlo is known worldwide, especially because of the casino of the same name and the Formula 1 race (The Grand Prix of Monaco) that takes place here.
The district owes its name to Prince Charles III. In the 1860s, the prince decided to build a casino on a rock spur in the sea, so that the then underdeveloped area became famous worldwide. Today about 15,200 inhabitants live in Monte Carlo, with a large part of the population being extremely wealthy.
The most popular sightseeings in Monte Carlo
Monaco is not the city of the rich and beautiful for nothing, as here, approximately 30% of the population consists of millionaires. Also the sightseeings that one finds here are accordingly worth seeing. We have listed a small but nice selection of the most popular destinations in Monte Carlo in the following paragraphs:
Casino Monte Carlo
The Casino Monte Carlo is one of the most popular sightseeings of Monaco. The special building was once designed by Charles Garnier. The architect was originally also responsible for the planning of the Paris Opera. In the Monte Carlo Casino, gambling does not start until midday, so that the luxurious rooms worth seeing are open for viewing beforehand.
Opéra de Monte Carlo
Also the opera house of Monaco, the Opéra de Monte Carlo, is located in the city district Monte Carlo. Monaco owes the impressive building also to the arquitect Charles Garnier. The front of the opera house faces the marina of Monaco and is decorated with beautiful mosaics and sculptures. Those who do not want to watch any of the performances should at least not miss the unforgettable view of the opera from the outside.
Circuit de Monaco
Not to forget is of course also the city circuit Circuit de Monaco. On the temporary race track that leads through the city districts Monte Carlo and La Condamine, the big Formula 1 race takes place every year. For this purpose, numerous road sections have to be closed and freed from road signs, flower pots and similar things. Formula 1 fans can walk along the Boulevard Albert I, where the start and finish are located during the races.
Gastronomy, sports and experiences
Monte Carlo’s gastronomy is characterized by the great passion of the great chefs who live here. The Principality offers all the specialities that the heart desires. The approximately 170 restaurants in Monaco offer almost everything: Grill and fish specialities are available here as well as Italian and French cuisine. In the numerous star restaurants such as Joël Robuchon, the gourmet restaurant Elsa or Le Blue Bay, renowned star chefs spoil their guests in an exquisite way.
Of course, there is also a sporty side to it and, above all, water sports such as jet skiing, windsurfing, water skiing or wakeboarding in the waters of the Mediterranean Sea. But also golf at the Monte Carlo Golf Club, tennis or bowling can be played to your heart’s content. At the same time, hiking enthusiasts will also find the Principality of Monaco an ideal starting point for an unmistakably beautiful route. Via the Via Alpina hiking trails you can even reach the Italian city of Triest on foot.
Not to forget the beautiful swimming possibilities, such as the beach of Larvotto on the Avenue Princesse Grace. The 400-metre long beach section, which consists of two swimming bays, is easily accessible via ramps and also has several restaurants, a kindergarten and a beach volleyball court. In addition, two more swimming possibilities invite you to relax. In the bay “Crique des Pêcheurs” all those who are looking for a lot of quietness are in good hands, as it is little known and therefore not overcrowded. Last but not least, the artificially arranged swimming bay “Die Plage du Solarium” invites you to relax, although swimming in the sea is prohibited there.
One Monte Carlo: The global, exclusive luxury experience
With One Monte Carlo, a new fashion district has been created in which a total of 24 luxury boutiques are at home. All the major luxury labels are represented here, from Chanel, Akris, Chanel Joaillerie and Lanvin to Art in Time Louis Vuitton and Balenciaga, Fendi, Prada Homme, Fred, Gianvito Rossi and many more. This major real estate and urban development project offers a global luxury experience in close proximity to the mythical Place du Casino. This modern neighbourhood combines great shopping, upscale apartments, culture, gastronomy and commercial buildings and extends along the Princesse Charlène promenade. The building was inaugurated only in February 2019 by Prince Albert II and Princess Charlene and houses a total of 37 apartments, 9 office floors and the 24 luxury boutiques mentioned above.
Luxury properties: Price development in Monte Carlo
The principality of Monaco is generally known for the fact that there is a real estate market there that is not comparable to any other in the world. Whether beautiful, quiet residential areas such as the exclusive Carré d’Or with its many modern shops, sophisticated galleries, elegant restaurants or first-class office buildings – no other city has so many luxurious properties. Accordingly, the principality of Monaco is also the most expensive place to live in the world and the demand for property in the district is still practically insatiable.
While the purchase prices for new buildings of 7,000 to 12,000 euros per square metre are utopian high for most of the citizens in this country, in Monaco, even this scale still seems to be relatively cheap. The square metre price in Monte Carlo averages 41,300 euros per square metre, which inevitably makes it the most expensive housing market in the world.
Last year, properties with an average purchase price of 5.45 million euros changed hands. At the same time, tenants in Monaco are also getting their money’s worth, because a small one- to three-room apartment currently pays an average of 92 euros per square meter. Larger apartments with four or more rooms have an average price of 114 euros, so that a monthly rent of approximately 30,000 euros has to be paid.