London and Monte Carlo (Monaco) are cities with huge reputations, known across the globe for glamour, style and wealth, and their respective Royal families, Windsor and Grimaldi.
Both locations have transcended the vagaries of fashion, retaining their luster and popularity with the global elite and high net-worth individuals. Their global and enduring appeal is a key aspect of their respective property markets, which contain some of the most prestigious and expensive real estate in the world.
Pastor Real Estate in their latest research report have explored the prime real estate markets in both locations and discovered a property landscape of highly discrete urban villages. Surprisingly, despite their different locations on the globe, both have comparable urban villages.
The report, conducted by leading property research agency Dataloft, pairs each of prime central London’s residential ‘villages’ with its Monaco counterpart, using topography and lifestyle. Within this framework the value of real estate is compared, both for sales and lettings.
By exploring for the first time at a micro level the relative property values and real estate activity, an interesting picture is revealed of comparable urban villages and the changes taking place: London’s continued growth has lessened the ‘Monaco’ premium gap and has made some prime central London areas, such as Mayfair and Knightsbridge more expensive.