Monaco - the land of supercars

Monaco is known as a paradise for supercars on earth. It's even harder to spot an ordinary car here than a Ferrari or Bentley.

The Principality of Monaco, nestled within France, covers an area of ​​only 2 square kilometers and is built on hillsides. With a population of approximately 40,000, Monaco is the second smallest country in the world and has the highest population density, at around 19,000 people per square kilometer.

Approximately 30% of Monaco's population are millionaires. The region is considered a playground for the world's millionaires and billionaires, thanks to its very low tax laws, which attract wealthy individuals to settle there.

The Principality of Monaco is small but prosperous. Photo: Wikipedia.

Monaco ranks second in the world in GDP per capita, at $153,177. Its GDP PPP per capita is $132,571 and its GNI per capita is $183,150.

The real estate market here is the most expensive in the world, averaging around $58,300 per square meter.

The streets are overflowing with supercars.

Most of the world's most expensive cars arrive in Monaco just weeks after their launch. Monaco's billionaire citizens are on the VIP list for Lamborghini, Ferrari, Rolls-Royce, and other luxury brands. They are always among the first to receive these limited-edition products.

After a day in Monaco, you don't even bother to notice or count how many Ferraris or Bentleys you've seen anymore, because they're so common. In fact, Ferraris and Bentleys sell more than Renaults or Opels. Rolls-Royces are as common as Volvos, and McLarens are as ubiquitous on European streets as Alfa Romeos.

The three most popular brands? The answer is Mercedes-Benz, Audi, and Porsche. But don't think of basic Mercedes or Audi models; people here only favor high-performance cars, so it has to be a Mercedes AMG or an Audi RS.

There are also many people who prefer small cars, and they choose the Abarth 500 over the regular Fiat 500. The Audi S1 ​​replaces the A1, and the Mercedes A45 AMG is more of a replacement for the A-Class.

A fair for the rich in Monaco. Photo: Forbes.

If you want to discover unique and extremely expensive cars in Monaco, just head to Casino Square (Place du Casino), where the rich often go to "burn money".

The standard Veyron has become too commonplace here; only the new editions are enough to attract attention. LaFerrari and Rolls-Royce Bespoke are often seen with wealthy businessmen and supermodels or actresses.

Only cars worth over $1 million have the chance to park in front of the entrance; supercars under half a million dollars are usually quickly driven into the garage by staff.

The supercars here aren't used to shorten travel time between areas, but rather to flaunt the wealth of their owners.

Who owns this supercar?

What you think of Monaco is wealth, supercars, and casinos. But few people know why this city is a haven for the rich. Why are so many people living in Monaco so wealthy? This is a question that many people wonder about.

This phenomenon stems from tax policy. In 1869, the government granted complete tax exemptions to wealthy residents, and corporate and personal taxes were very low. Wealthy individuals from over 100 countries flocked here as a way to avoid having their assets divided.

Famous racing driver Carina Lima owns the $6 million Koenigsegg One:1. Photo: Autogespot.

Famous residents of Monaco include Formula 1 driver Lewis Hamilton, tennis star Novak Djokovic, Lady Tina Green (wife of British retail billionaire Philip Green), and female racing driver Carina Lima... Besides tax benefits, the wealthy also like Monaco for its living environment. The weather is pleasant year-round, the politics are stable, and there are many attractive major entertainment events.

Millionaires and billionaires often choose the Principality of Monaco as their second citizenship, as it is a tax haven for the wealthy. The poverty rate in Monaco is 0%, and it has the highest ratio of millionaires and billionaires per capita in the world.

Monaco is famous for its enormous yachts and the world's fastest supercars.

The world's most expensive supercars are parked in front of Casino Square. Photo: Marchettino.

The smallest apartment in Monaco costs around 1 million euros. Some citizens of this country may lose their homes due to gambling, but most of those who own homes in Monaco are considered millionaires. Even supermarket cleaners, who often appear impoverished, own apartments worth $700,000.

Of course, not everyone living in Monaco is rich. Ordinary workers earn only about 2,000 euros a month. Compared to other countries, this might be considered a high income, but given the high cost of living in this country, 2,000 euros is just a drop in the ocean.

If you don't have Monaco citizenship, daily expenses are really high. But if you are a Monégasque (Monaco citizen), you can rent affordable apartments and live comfortably on 2,000 euros a month.

Monaco boasts convenient transportation thanks to a transit stop at Nice Airport (France), and travelers only need a short distance to cross the border. Yolande Barnes, director of real estate consultancy Savills World Research, says wealthy individuals prefer obtaining citizenship in Monaco over other tax havens, such as the Cayman Islands, because they feel like they are on vacation rather than in exile. It's an ideal location for the world's rich to settle and spend their money.

Contrary to what you might think, Monaco is not a peaceful place for relaxation, as the roar of supercar engines fills the air day and night. Tourists often come here simply to take pictures of the expensive cars.

According to Liel