Prospective home buyers in Monaco can expect to pay 51,000 euros per square meter, according to a survey released last week by Knight Frank. That translates to about 2 million euros for a small studio flat, and beats London property prices into second place, at 44,620 euros per square meter.
So does this mean that Monaco will escape the credit crunch that's currently taking place in the rest of the world? Some say that there's a delayed reaction, and that we'll soon see the effects of problems in the financial sector. Others say that ultra high net worth individuals are still able and willing to spend, and that economies such as India and China will continue to produce wealth while the UK and USA suffer. Whatever the future brings, here at Monaco IQ, we'll keep you informed.