Your favorite section is ready to impress you again with pleasant and not so pleasant numbers. Today's heroes are ready to surprise one another. I wonder if there is anyone among our readers who, even after reading the article, will not give up the desire to live in Monaco?
Distinctive Belgian bitterness in products and prices
Belgian beer and Brussels sprouts have a distinctive bitterness that has even been reflected in real estate prices. In the fifth largest city in Belgium, only 144,000 people live, which makes Brussels even more attractive in the eyes of a modern investor. Are you ready to find out the price per square meter in the capital of the European Union?
A one-room apartment is a living option that can always be characterized as "cheap and angry". But not in Belgium. In the capital, the cost of even such modest housing will not be affordable for everyone:
- The rent for the center will be 1,070 € per month.
- In the nearby areas, the cost drops to 897 €/month.
A three-room apartment, although it provides three times more space for accommodation, does not cost three times as much.
- In the most prestigious area of the city, you can rent such a property for 1,913 €/month.
- If you are not picky and are willing to settle for the outskirts, you will have to scrape by on just 1,600 € per month.
When buying a one-bedroom apartment, you should be prepared for the fact that the cost of even one square meter will be higher than the average salary of an average Belgian - from €4,162/m² in the center or from €3,560/m² in other areas. Oh, and yes, the salary after tax is €2,755 - it is doubtful that anyone will be able to save the entire amount without the help of credit funds. That is why a 20-year mortgage with an interest rate of 3.38% is quite popular among the local population. It will be possible to recoup all investments quite quickly because Belgium is catching up countries with the highest profitability. Thus, the average yield in the city reaches 5.47%, and in the center - up to 5.59%.
Monaco is the unofficial capital of millionaires
No wonder Monaco is considered a principality. In this tiny state with a huge population concentration, luxury is literally felt everywhere. Instead of an alarm clock, the tires of Formula-1 cars squeal outside the window, and instead of computer games, leisure time is spent playing in casinos. Prepare some valerian drops, because the local prices will make you feel sick.
Even the most unremarkable housing in Monaco will not seem so if you look not at its appearance, but solely at the price:
- The cost of renting a one-bedroom apartment in the city center reaches up to 7,600 € per month.
- In other areas, it is 6,000 € per month.
As for a three-room apartment, for the amount it is rented in the center, you could buy almost 6 m² in Prague:
- The price in the center is unreasonably high - starting from 27,800 € per month.
- In other parts of the Kingdom, there are more affordable offers starting from 7,000 € per month.
We do not recommend buying real estate in Monaco, and you probably won't want to do it yourself once you find out the prices. One square meter in a one-bedroom apartment costs €64,000 or even €77,000 if it's in the center. With an average salary of €5,735, it becomes obvious that the majority of homeowners are wealthy foreigners. Despite the focus on the rich and successful, the Principality also considers less wealthy categories of investors. For them, a mortgage for 20 years at 2.92% is offered. To be honest, with such prices, even a small percentage won't save you from mortgage slavery. Yield is not particularly helpful in capital return because it is modestly at 3.16%.