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R56 million will buy you this luxury studio apartment in glitzy Monaco. But it is only the length of 9 minibus taxis

Published Apr 6, 2022

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Durban – The Principality of Monaco is known to be a playground for billionaires, a state famous for lavish wealth and glamour.

The country is dripping in so much luxury and extravagance that $1 million (R14.6m) will buy you only 15 square metres of prime property – less than the length of three mini-bus taxis, meterage squared, of course.

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Its prime property, by size, is officially the most expensive in the world.

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By comparison, this amount will buy you 220 square metres of luxury property in the Mother City.

Cape Town affords buyers prime property at prices much cheaper than in other cities around the world.

As an example of the opulence of prime Monaco property, a 54 square metre studio apartment is on the market for €3.5m (about R55.95m). It is described as being set in the heart of the Carré d'Or in a prestigious building, the Park Palace. The building faces casino gardens, has an indoor pool, fitness room, sauna, and 24/7 security.

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The apartment has a marble shower room.

“The studio consists of an entrance with cupboards, an equipped kitchenette, a large main room open to a large terrace overlooking the gardens of the casino, and a beautiful seascape,” states the local agency Berry & Quinti.

It also boasts a marble shower room, luxurious finishes, a cellar, and parking.

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Monaco is a sovereign city-state on the French Riviera, and is famous for glamorous events such as the Monaco Yacht Show and the Monaco Grand Prix.

Monaco is famous for its glamourous events.

Data from Statista gives you a breakdown of how much prime property R14.6 million will get you in some of the world’s cities.

SOURCE: STATISTA

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Click here to start your search for prime property in South Africa.

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