What does 1 million get you in Monaco?

In fact, on average, $1 million currently spent on real estate in Monaco buys an average of 190 square feet. In the most exclusive parts of the country, such as the Golden Square (an area that surrounds the iconic Casino de Monte-Carlo and the Avenue Princesse Grace), $1 million is enough for 90 square feet.



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Tax Haven. One of the main reasons for Monaco's wealth is its status as a tax haven. As early as 1869, the principality abolished income tax, making it an attractive destination for the super-rich. Monaco's tax system is designed to encourage capital transfer and income generation without heavy taxation.

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Many Monaco natives are not wealthy and must rely on government subsidies in order to afford to remain in Monaco. It is nearly impossible for foreigners to become citizens, so government subsidies are tailor-made to support Monaco natives. The unemployment rate is estimated at 2 percent, one of the lowest in the world.

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