London has been pushed off its top spot by Monaco as the most expensive place to buy residential property, with the UK capital and surrounding counties suffering some of the biggest price falls in the world.
Monaco, where prime property is being sold for â‚¬50,000 ($68,000) per sq m (your average 1,500 square foot apartment would theoretically run you $10 million), is now followed by London, at â‚¬28,000 per sq m, then Manhattan, at â‚¬16,500 per sq m.
The Wealth Report, compiled by Citi Private Bank and Knight Frank shows that property values fell 17 percent in London and 25 percent in Hong Kong.
Source: Financial Times
The Mediterranean city state of Monaco has shelved a multi-billion-dollar scheme to expand into the sea because of the global economic crisis, its ruler Prince Albert II said Tuesday.
Albert said Monaco had been forced to drop plans to build a huge artificial peninsula, which had been compared to Dubai’s island developments.
“In the current climate it would be irresponsible to launch a project of this scale,” the prince told AFP in an interview, explaining that the project had fallen short of its funding and environmental protection goals.
Vogue Paris’s year-ender/year-starter issue features Princess StÃ©phanie of Monaco on the cover shot by Mert Alas and Marcus Piggott.
Here’s some photos from the editorial wearing the ‘gym’ look from Louis Vuitton’s Spring/Summer 2009 collection. Her beauty and elegance is timeless, a characteristic she got it from her mother, Grace Kelly.
There are more photos and editorials from Vogue Paris December 2009/January 2009, so grab a copy now!
Feel like dressing like royalty? Or even having a taste of royal life? Then look no further than the Mont Charles de Monaco collection!
Mont Charles de Monaco – Mont Charles means Monte Carlo in French – one of the first high fashion labels to originate from the prosperous Principality, has just revealed its signature collection of sensual handbags, as part of a coordinated plan to revive Monaco’s glamorous identity.
“Monaco has always been synonymous with style and sophistication” explains Founder & CEO John Mclean, in a reference to the luxurious Mediterranean nation made famous by Princess Grace and the Monaco Grand Prix.”But we need to remind the world of this, and add a modern twist”.
The antonym of vintage has to be the newest spark of an idea in motion. Such is the case with Russo-Baltique Vodka; yet to be tasted and to appear in public, further fuelling the hype and Ãœber-curiosity for this version of the delectable spirit.
A myth in the making, what is known is the inspiration behind it. Powered by passion for the finer and unique things in life this enigmatic and exclusive vodka is the brainchild of armour, combat car maker Russo-Baltique, DARTZ.TV Corporation in collaboration with Princess Regina Abdurazakova of Kazakhstan oil heiress fame.
The worldâ€™s most expensive vodka will be released on April 19 at the Top Marques Monaco and Prince Albert will be honoured with a gift of the very first bottle of this connoisseur creation. Reportedly priced at one million Euro ($1,35 million) we assume it chills on ice,
The lunch was organized yesterday (October 10th) at the Louis XV restaurant, at the Hotel de Paris, located Place du Casino – Monte Carlo.
Fortis, which was bailed out on Monday, sent an invite for 50 to participate in a ‘culinary event’ at the most expensive three-Michelin-star restaurant where the bill runs in most cases to over 3000 euros ($4,500) per person.
By international convention, a superyacht is any private vessel more than 30 metres (98ft) in length. A few years ago, there were only a handful but today, there are thousands of them and, amazingly, demand is on the up.
After a few years, the owner of a 30-metre yacht wants 40 or 50 metres of yacht and, right now, there are not enough quality shipyards in the world to cope with the demand.
Every year, buyers and sellers congregate in Monaco, and this year was busier than ever. At the Monaco Yacht Show this past weekend in Monte Carlo, there was an estimated $4.5 billion worth of yachts on display, and none of the 98 craft on exhibit were under 100 ft. !
The Wealth Bulletin (a Dow Jones site) has come up with a list of the 10 most expensive streets in the world. The survey revealed that the prices for the top homes in the best locations appear to have decoupled from the gloom and doom being felt in the wider property market.
If you want to live in the best accommodation in these streets you will need to be a billionaire, or not far behind !
Avenue Princess Grace in Monaco has been named at the top with a price tag of $190,000 per square metre. It is followed by Hong Kong’s Severn Road with a price of $121,000 per square metre (sq mt) at second and New York City’s Fifth Avenue at third place ($80,000 per sq mt).
The 118 WallyPower is one of the most eye-catching yachts in today’s luxury boating market, created by the Monaco-based Wally Yachts. It is narrow and angular in design with black glass housing.
It is 118 feet long and is capable of reaching speeds as fast as 60 knots (70 mph, 110 km/h).
It is capable of this feat due to three Vericor TF50 gas turbines generating 16,800 hp. The three gas turbines each drive a Rolls-Royce Kamewa water jet, two steerable outboard and a non-steering booster on centerline.
Prince Albert II, the ruler of Monaco, recently christened a new cruise ship named after himself, which will be the newest addition to the Silversea line and said to be the most luxurious expedition ship ever to sail.
A gutted expedition ship now completely redecorated and outfitted to suit the most wealthy of customers it is ready for the most rugged of adventures with the most luxurious of accommodations.
The 132-passenger Prince Albert II, which formerly sailed as the World Discoverer before Silversea bought it in September, sets sail on June 12 from London on an inaugural season of 10- to 22-day adventure cruises focusing on the polar regions.
The first 54-meter mega yacht by AMY, the joint venture founded in October 2005 by Cantieri Navali Lavagna and T.Mariotti/Genova with a view to building Admiral branded displacement yachts, will be launched next July.
A grand party will celebrate this event, an important achievement for AMY: the advancement from spectators in the world of mega-yachts to significant players of such ever-growing industry.
Designed by Luca Dini and planned by AMY, the Admiral flagship enters the international stage as a truly unique vessel. Since the very first stages of design and construction of its steel hull and light alloy superstructure new construction criteria, typical in ship construction yet innovative in yacht building, have been adopted: the results are excellent.
World renowned luxury yacht agents Fraser Yachts recently added the wonderful 46m (151′) S/Y Lulworth for sale. Built in 1920 but wonderfully restored in 2006 to her former glory, S/Y Lulworth is available for sale with an asking price of Euro 14,950,000 through Richard Earp of Fraser Yachts, Monaco.
Larry Ellison (the founder of Oracle) has a “yacht” so big that he has to dock it where they dock the big ocean liners.
He can no longer cruise into the Harbor at Cannes or Monte Carlo – he’s off in the area where the freighters and tankers are.
To cope with this issue, the people who own these huge yachts, often have a separate yacht they use to get into smaller harbors. They also have helipads as well as other vehicles to use when they are on shore.
Monaco-based Wally Yachts has designed the ultimate in luxury yachts; the WallyIsland a 99 meter (325 feet) “gigayacht”. This super cool waterbaby can be fitted with pools, tennis courts, mini soccer fields, or the gardens and have space to house 40 crew members and 24 guests. A helipad and two 45-foot speedboats are deployed at the back.