Monaco Takes Property Pole Sitting 1,508% Ahead Of F1 House Price Average
19th May 2021Across the 22 Formula 1 race nations, Monaco’s average property price is by far the most prestigious.
This Sunday, Formula 1 heads to perhaps the most iconic track on the racing calendar in Monaco, and research by leading high-net-worth mortgage broker Enness Global Mortgages has revealed that the principality also takes pole position where property values are concerned.
Enness analysed average property values across the 22 nations featured on the 2021 Formula 1 race schedule. On average, property values across all F1 destinations sit at £2,549 per square metre.
However, with property values in Monaco averaging £40,991 per square metre, it is by far the most prestigious F1 location from a property perspective, coming in 1,508% above the average across all race nations.
Singapore is the only other F1 host nation to see average property values reach five figures, with the average price sitting at £13,130 per square metre, 415% above the average of all F1 locations.
Japan takes the final spot on the podium at £6,365 per square metre. France, Australia, Austria, the UK, the Netherlands, Belgium and Italy also rank within the top 10 and are home to above-average property values.
In contrast, Turkey is home to the most affordable average property price at just £543 per square metre, 79% below the average across all F1 nations. Saudi Arabia also offers a relatively affordable route onto the property ladder at £735 per square metre, followed by Mexico (£861), Russia (£871) and Brazil (£938).
Monaco’s position at the top of the rankings reflects its status as one of the world’s most exclusive property markets. Consistent demand from wealthy international buyers, combined with an extremely limited supply of homes, continues to support some of the highest property values in the world.
