Michele Tecchia: Real Estate in Monaco is still a Investment Opportunity

Monaco is a city that has been thriving lately. This is because of the real estate industry that has taken the investment market of this city by storm. In this city’s industry lies developers, broad-minded investors like Michele Tecchia and, above all, great opportunities. Michele Tecchia noticed the city’s real estate high growth potential and immediately started investing in the industry. Since he ventured into this business, he has achieved great milestones. This can be seen from various projects he has been involved in, such as development and value addition to properties.

On the other hand, London has several reasons that make it worth doing this kind of investment, but not as good as Monaco. Being the capital city of the UK, it is a popular place for investment because of the high demand for rental and housing properties. But for various reasons, like climate and taxation, it could offset the attractiveness of London.

Comparison of investment of real estate in both of these cities

This kind of investment in these cities is a great idea. But as with any other market, this investment in the cities has advantages and disadvantages. We will compare these two cities’ investments by outlining their pros and cons. At the end of this article, you will be able to point out which of the two cities is best for this investment.

Now into the crux of the matter, let’s first look into the pros and cons of this investment in Monaco.

Advantages as Noted by Michele Tecchia

According to Michele Tecchia, this is a great city for this investment due to the following reasons;

1. It is a great location. Perhaps, the city is located in one of the best spots in the world. It has legendary sumptuous-looking buildings that mainly attract investors. The port city is also amazing in that it provides excellent access to the Grand Prix, one of the thoroughfares in the city.

2. The city is easily accessible by sea or air. As it is a port city, it is easily accessible by water. It has airports that make it also accessible by air. This makes it an ideal place for a good lifestyle and this investment.

3. The city is full of culture and art. Despite being small-sized, its capital and old city, Val de Grace, holds a lot of beautiful architecture. They include the Prince’s Palace, Arsenal Stables, Casino Monte-Carlo, Palais Princier and Hotel de Paris, which are all World Heritage Sites for UNESCO. This old city also has various great art galleries which attract many visitors.

4. It has an excellent lifestyle. Because the city is a port, it has beaches such as the Palm Beach-style. Spending time on the beach is one excellent way to have a luxurious lifestyle. For this reason, the city can make an excellent place to rent out or, even better, build rental properties for investment.

5. It has a continuously growing luxury market. Places like Monte Carlo have attracted wealthy individuals, for it offers significant tax relief for those who want to invest or settle in the city. This city is mostly sort for commercial and residential property investment and has continued attracting the wealthiest customers.

Michele Tecchia concludes by saying, “this is why real estate in the city is an investment opportunity.”

Disadvantages

1. Investing in this city can be too expensive. The city’s real estate is among the most expensive globally. Therefore, you need to have enough money to start this investment. This is why the city only attracts the wealthiest people worldwide to invest.

Advantages of this kind of investment in London

1. High rental returns. Rental returns are among the most important things to consider when investing. Investing, especially in buy-to-let properties, brings about high rental returns to investors.

2. High demand for properties. The number of people searching for rental properties is higher than the number of rental properties that are available in the market. Therefore, investing in building rentals or houses to sell would greatly benefit investors and those searching for rental houses.

3. With the rise in property prices in London, many investors are turning to alternative regional cities. Major cities in the United Kingdom’s regional areas, such as Manchester and Birmingham, are venturing into development projects and major regeneration, which improve amenities and connectivity. These projects, in turn, add value to properties in these cities as they become more attractive to businesses and residents, increasing the need for this investment.

4. Leads to low interest rates. Low interest rates allow lenders such as banks and building societies to offer low property mortgage rates to investors and small lenders. This allows investors to remortgage the existing properties at lower rates in order to get a better value out of these property investments.

Disadvantages of the investment in London

1. As we had seen earlier, taxes are among the main reasons that could offset the attractiveness of London limiting the investment. On top of the property cost, investors are also required to pay stamp duties in the UK. Such taxes can amount to a considerable premium for just investing in properties in the United Kingdom.

2. Climate change. Harsh unavoidable impacts due to climate change make London less attractive to investors. Sometimes London experiences heavy downpours, which causes flooding, which as a result, causes significant damage to properties.

3. Strict loan criteria. Financial institutions in London appear to be tightening their lending standards on new loans. Therefore, investors ought to be aware that their properties need to be performing very well in order to cover not just the mortgage but other payments before they get approved to receive a loan.

With the advantages and disadvantages of investing in these cities, Monaco is by far better for its advantages are more while its disadvantages are less compared to those of London.

Michele Tecchia gives his final thoughts regarding Investment in Monaco

This is one of the cities Michele Tecchia has practised his skills and earned immense experience in the industry. He notes that “finding a listing that have the right location, design and also price in this city, whether selling or buying a home is not easy. But this doesn’t mean the city’s market has a lot of competition and no space left for incoming investors. Instead, it means that there is a likelihood of the city becoming more exclusive in the coming days considering the appreciation rate and current growth.” This shows the high rate of this investment going on in this country.