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Monaco’s changing residential rental landscape

One of Monaco’s attractions is undoubtedly its stability, political and fiscal, but as Savills’ Monaco dealing with would-be residents on a very regular basis, we often wish that our landlord clients chose to update their rental properties more readily.

Traditionally, landlords have been reticent here to refurbish their properties and often our first role was to manage the expectations of prospective tenants, used to state-of-the art rental apartments in other parts of the world.

This is changing and changing fast in Monaco - we have seen, in recent months, a surge of new rental developments which provide a choice of very glamorous apartments in various excellent locations.

At the very top-end of the market, there is the supremely luxurious serviced residence, One Monte Carlo.  This residence sits in the heart of the famous gardens of the Monte Carlo Casino:-  a perfect location in the renowned “Carré d'Or” or Golden Square  of the Principality. One Monte Carlo is designed by the world-renowned architect Sir Richard Rodgers, and interiors by Bruno Moinard, and is undoubtedly the most luxurious serviced residence in Monaco currently.

The residence completes between May and July 2019 and many of the apartments have been rented out already.

The Residence proposes the following services:

A Concierge service and valet parking 24 h/24;

Access for residents to the pool and fitness center of the luxury spa, the Thermes Marins.

Launching around the same time, the Columbus Hotel has also created a range of smaller serviced apartments. Situated in Fontvieille, these studios and one bed apartments are chic, modern and aimed at a younger clientele perhaps, wishing to take advantage of the services of a boutique-style hotel in an area which boasts many of Monaco’s best bars and restaurants.

Monaco may have been a little slow in taking to the world of serviced residences but between One Monte Carlo and the Columbus Residence, they have now got the game covered.

 

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