The Hôtel de Paris

In the heart of Monaco, and among such auspicious surroundings as the Casino Monte Carlo, Café de Paris and the Jardins des Boulingrins, stands a true icon of the Principality; the majestic Hôtel de Paris.

A Belle-Époque masterpiece of architecture, its longstanding position as the jewel in the luxury Monegasque hotel market has been no accident. It was founder and visionary François Blanc’s intention to create “a hotel that surpasses everything that has been created until now”. 150 years later, that sentiment still holds true.

Today, under the auspices of the Société des Bains de Mer, the Hôtel de Paris is undergoing a significant refurbishment; one that maintains the establishment’s much exalted spirit, while ensuring its relevance in the 21st Century.

While certain internal features of the hotel will be preserved – such as the much-loved main entrance and lobby, and the spectacular Salle Empire – newer innovations to the hotel will include the creation of a centrally-located garden courtyard, roof renovations, a new spa, fitness and pool area, and a “rooftop villa” with a private garden and pool. Ultimately, while the overall capacity for accommodation will be similar to how it was before, the number of suites will increase, both in number and in size. The hotel’s rooms will also increase in size.

For the Société des Bains de Mer, it was always imperative that the external renovation of the Hôtel de Paris allows for a continued integration with the urban landscape. Standing as it does between the faithfully restored Hermitage Hotel and the future real estate complex of the Sporting d’Hiver, great care has been taken to ensure the hotel does its part to retain an aesthetic synchronicity within the area, without compromising its legendary status. So while the original façade of the hotel will remain unchallenged, a refined and conceptual style will emerge from the third floor upwards, culminating in two horizontal glass lines underlining the final floors.

In its way, the Hôtel de Paris is emblematic of Monaco as a whole; both share a passion for preserving and honouring their unique history, while simultaneously and whole-heartedly embracing the 21st Century. It’s how both the hotel and the principality are able to continue to attract a modern world of business and investment, while never losing sight of what it was that set them apart in the first place.

Together, theirs is a bright future, built on the sure foundations of an illustrious past.

© 2017 – Rosengart – All rights reserved

Photo: SBM  Monaco

Monaco: Extension into the Sea

There is a very simple reason why so many people wish to live in Monaco; it is a destination unlike any other. The prestige, luxury, and beauty that the principality offers is unparalleled.

Yet, with a population of approximately 38,000 but only a total area of 2.02, Monaco is also the most densely populated country in the world, and – after Vatican City – the second smallest country. Furthermore, since 2012, 600 more people have been settling in the principality every year. Space within its borders is running out.

In light of this, Prince Albert II and his government have approved planning to extend into the Mediterranean. This spectacular project – ‘Anse du Portier’ – is set to be completed by 2025.

This is not the first time Monaco has executed such an ambitious land reclamation project. It was Prince Albert’s father who first saw the potential in the process. Unable to expand his principality into France, Rainier III – ‘The Builder Prince’ – looked towards the sea for a solution, first creating the Larvotto beach district in the early 1960s, followed by the Fontvieille industrial area in the 1970s. The result was an overwhelming success, increasing Monaco’s surface area by 20%.

Although this development will see the principality’s official territory increase by just 3%, the impact it will have on Monaco will be extraordinary. This €2billion project – financed entirely by private construction companies – will create around 6 hectares of land, including housing for nearly 700 inhabitants, commercial areas, and a new port. There will be an emphasis on public spaces and facilities within the outdoor areas too. Indeed, the very centrepiece to the development will be a 17 metre-high hill nestled within the landscaped public park.

Early concerns that development will have a negative impact on the existing ecology and environmental beauty of Monaco have been carefully considered and addressed. In inviting development bids, the government insisted that each one demonstrate the most rigorous environmental standards with “sustainable urban design” being its guiding principle. As well as ensuring greenspace throughout the urban development, 40% of the new district’s energy needs will come from the sun and sea. It’s through this seamless synthesis of technology, beauty and ecology that the new development’s contemporary image will remain in keeping with the state’s existing landscape and urban identity.

Where once were limitations, now stand a diverse range of opportunities. The development of Anse du Portier will breathe fresh life not only into the beach district but into the whole of Monaco, presenting opportunities to property companies and creating jobs in development, construction, leisure, and beyond.

© 2017 – Rosengart – All rights reserved

Pictures: Valode & Pistre

The New Face of the Sporting d’Hiver Monaco

In an ever-changing world, the principality of Monaco continues to define itself as a modern, relevant and vibrant haven for luxury, leisure and business. Nowhere is this better reflected than in the redevelopment of the site currently occupied by the Sporting d’Hiver building.

Built in the 1930s, the Sporting d’Hiver was a forerunner for the types of leisure complexes we now know today, housing as it did areas for dancing, dining, gambling and bars, all under the one roof. In its day, this Art Deco building – nestled in the heart of Monaco’s grand Place du Casino – was a popular cultural pastime for locals and visitors alike.

Today, in response to the changing demands on the area from both the local population and visitors, the Société des Bains de Mer is moving forward in its plans to redevelop the site to create a major new pedestrianised street, housing shops, restaurants, and a public art gallery. Serviced apartments and offices will be created within an extension of the adjacent Hôtel de Paris.

The central focus of this mixed-use redevelopment will be a series of seven glass-fronted pavilions, the residential sections of which have been designed for both luxury and flexibility. For example, a unique contractible façade system – similar in concept to that of a convertible car roof – will allow the interior living quarters of each apartment to open up into an external living space, providing extraordinary views of the city.

Public access is at the very heart of this redevelopment scheme. In stark contrast to the Sporting d’Hiver’s dominant and restrictive presence on the streetscape, the re-landscaped design will generate an extra 30 per cent of public space on the site, with green spaces, water features and sculptures being a central presence throughout.

As always, the preservation of the area’s cultural heritage is of upmost importance. The sumptuous art deco Salle des Arts – a major exhibition space and one of the best loved features of the Sporting d’Hiver building – is to be recreated within a contemporary setting, with room to accommodate an entirely new exhibition hall during a second phase of development.

Due to be completed in 2018, it is projects such as this – with their emphasis on high density residential, retail and office development within the very heart of the country – which once again reasserts the government of Monaco’s ceaseless commitment to the economic, social and cultural development of this already exceptional principality.

© 2017 – Rosengart – All rights reserved

Images: SBM Monaco

SEASONAL RENTALS IN THE ALPES-MARITIMES

SELECT THE ONE

Villa the One ROSENGART LUXURY REAL ESTATEOne of the départements welcoming the highest number of tourists in France, the “06” offers over 40 km of beaches and a very densely built-up coast, though its hinterland and hilly areas actually occupy 90 % of the territory. In summer, the coastal area beckons to well-off visitors from all over the world, with Cannes capturing everyone’s attention with its numerous festivals.

Each year, 10 million visitors flock to the Côte d’Azur, a tourist spot of world renown, and the second most popular in France after Paris. Once much favoured by the British aristocracy and White Russians, it endowed itself over the decades with sublime villas in “Belle Epoque” style, souvenirs of an era when winter residences hosted sumptuous receptions. The Riviera’s vocation is thus both cultural and historic : and 40 % of its working population now owe their jobs to tourism. According to the Observatoire du Tourisme de la Côte d’Azur, seasonal rentals account for 6 % of stays, with hotels chalking up 50 %.

According to Judith Davis of the Impact agency : “On Cap d’Antibes, the market for summer rentals is picking up steam”. While properties right at the water’s edge win all the votes, being within walking distance of the beaches is enough to convince English and American clients, both enjoying a favorable exchange rate. Budgets range on average from 60,000 € per month in summer – bringing a house of 300 m2 (with five suites) a short walk to the beaches – to 80,000 €, the rent required for slightly superior appointments and a real view of the Mediterranean. The retreat on the part of the Russians is being offset by a comeback staged by Middle Eastern clients, fond of 24/7 service and spacious apartments and penthouses on the Croisette. Villas in Cannes range from 50,000 to 80,000 € per month in July or August. The lower end of the price bracket allows one to envisage a pretty house of 250 m2 (four suites) in La Croix-des-Gardes. Reservations are made at increasingly late stages, and stays have been shortened to one month, or even two weeks, showing a strong inclination on the part of the clientele to make frequent changes in their holiday destinations. A fortnight is still, in fact, the holiday format traditionally preferred by the British.

Right in the middle of the congress period in Cannes, Emmanuelle Furrer of the Impact agency is very pleased with the first results : the MIPIM is looking more promising than in 2015 and the success of the Lions congress is being confirmed. At the beginning of March, there were already no more availabilities. This is by far the most important congress in Cannes, ahead of the International Film Festival, for which potential clients wait for the selection and choices of the jury to confirm or cancel their bookings. But here again the trend is clear : stays are reduced to 5-6 days and companies send smaller delegations. During the MIPIM, a high-end 2-bedroom apartment costs 5,000 € per week, a penthouse on the Croisette 40,000 € per week. During the Lions congress, the prices posted rise by 25 %. Owners have clearly anticipated enthusiasm for this event and raised their prices by a significant notch. On the other hand, they refuse to accept the new arrangements for the Film Festival and lower their prices.

The One villa in Cannes

In Monaco, Christian-Alexander Rosengart of Rosengart Luxury Real Estate looks upon seasonal rentals as a logical and complementary service to the sale of properties in the Principality. “In the high season, residents of Monaco take up their summer quarters on the Côte d’Azur, in substantial villas with luxuriant gardens, languishing peacefully by the pool, on one of the capes, or in the Gulf of Saint-Tropez. In search of spaciousness, a commodity often lacking in the world’s most densely built-up micro-state, they combine an enviable address with a villa and facilities typical of conciergerie services in palatial hotels.” They all want house staff to maintain and guard the premises, look after children, prepare meals or drive the family around. They appreciate quietness and privacy. As offered by a comfortable property on a gated estate in Valbonne, with six suites and very modern furnishings, for rent at 30,000 € per month. “Agents cannot content themselves with merely placing a property at their clients’ disposal, they have to ensure that tenants enjoy an enchanting stay, free of any logistical contingency.” Another villa, overlooking La Californie and offering a sublime view of Cap d’Antibes and the Bay of Cannes, is a perfect illustration of the increasingly pronounced taste for service and entertainment, with its open-air cinema, infinity pool with underwater music, a cocktail bar of the roof, and many scenarios for lighting ambiances in the garden. The cost of the four suites and self-contained apartment ? 75,000 € per month.

“Since mid-February, we have received lots of calls for the area around Cap Ferrat,” say Frédérique Mathias and Véronique Deguilhem of Azur Méditerranée. Despite the drop in the rouble, Russian clients still favour the lush peninsula and nearby towns close to the sea. While some request options from one year to the next, others change regularly, reserve late and bargain ferociously. These clients, aged from 30 to 60, plan stays of two to three months, installing their families and staff in properties for the whole summer. A house of 200 m2 on Cap Ferrat with a garden, pool and glimpse of the sea starts from 50,000 € per month. A budget which allows for more generous living space, refined appointments and a real panoramic sea view, in the neighbouring communes of Villefranche-sur-Mer or Beaulieu-sur-Mer. On Cap Ferrat, the average summer rental is close on 100,000 € per month. According to the Azur Méditerranée agency, Russians account for two-thirds of the market while the Chinese are still in a minority, the Americans rather hesitant, Middle Easterners more drawn by Cannes, and North Europeans more inclined to acquire a holiday home from 600,000 to 3 M € than to rent a holiday home.

By Laetitia Rossi – RESIDENCES IMMOBILIER

The One, a Work of Art in a Natural Exhibition Space

the-one-NEWS

Towering high in the peaks of Cannes close to the Californie observatory, The One villa enjoys a special vantage point offering unique views across the Mediterranean and the Cap d’Antibes. Upon entering the property, guests are struck first and foremost by how easy it is to navigate the grounds. The path leading up to the entrance adds a sense of perspective and depth that intuitively guides visitors to the front doors.

Access is made straight-forward thanks to a collection of different maps. An impenetrable, security system incorporates a gate, security access barriers, service access points and various controls designed in a refined minimalist style, beyond which lies a second space of a buffer zone comprising a courtyard, a garage and a fitness room fully integrated into the garden. A third section follows, featuring a front wall on which the name of the property is displayed. A staircase containing steps leads seamlessly towards a levelled garden enclosing the pool areas and a pool house set against a backdrop of the sea. More than a mere forecourt, the garden’s spaces and landscape design make it a veritable spectacle of greenery amidst which the villa nestles like a work of art in a natural exhibition space.

The villa is characterised by a decidedly artistic streak, rising up like a sculpture in a unique and precious one-of-a-kind monument. The refined, considered aesthetics of the property lend it a thoroughly unique and special feel, based on a simple concept that aims to provide a sense of harmony and cohesiveness with respect to the villa’s openings by surrounding the building with an open-facing effect from which the property’s majestic main entrance can be gleaned, offering immediately visible glimpses of the villa’s indoor halls and corridors with an ever-present feeling of clearness and an incredible combination of emotion and logical lines.

the-one-1

On the ground floor, vast, open and airy spaces house a three part reception area comprising a living room, dining room and kitchen opening onto the Mediterranean view. A service access point, a technical room and a utility room ensure logistical management behind the scenes.

SELECT THE ONE

The first floor is home to four en-suite bedrooms, including a sumptuous master suite with private terraces and full sweeping views of the Mediterranean. A central gallery opening onto to the entrance provides access to the entire space while offering incredible views of the surroundings. A staircase leads up to a rooftop terrace that serves as the villa’s very own private observatory. This spacious pedestal is made up of various different open spaces such as a summer bar area, sweeping curtained lounge that literally dominates the surroundings like the Cannes observatory, inspiring thoughts of memories to come.

SELECT THE ONE

The landscaped garden boasts a rich variety of atmospheres and feels: a long infinity pool with poolside and underwater music facility that offers sweeping views of the Mediterranean Sea and the garden, a sheltered pool house with summer kitchen tucked away in a garden of aromatic herbs and facing out onto the sea, a lounge that acts as an extension of the living room giving onto the view and a secret garden to the south that offers an alternative view of the property.

The designers of The One aimed for perfection, emphasising the villa’s unique identity by prioritising exceptional lighting completed by a cinema screen that can be pulled down in the charming main entrance hall in a tribute to Cannes’ cinematic heritage, displayed with the property’s characteristic originality.

For more information, visit VILLA THE ONE’s WEBSITE

Monaco, Best and Peaceful Place to Live

Monaco is an incomparable Principality : it is unique as a place to live and a place to invest. A mild climate, security, elegance, luxury and a rich cultural life are coupled with modern facilities and ameneties. Monaco is a true international melting pot, attracting an ever-increasing number of people from around the world.


Personal SecurityROSENGART LUXURY REAL ESTATE MONACO_GARDE PALAIS MONACO 2

The entire surface area of the Principality is under camera surveillance, but security is not overbearing. The police are discreet, but trained in such a way that anything detrimental to the harmonious atmosphere in Monaco is forbidden. Begging is non-existent, indecent clothing is prohibited and traffic laws are rigorously enforced. With one police officer for every 100 residents, the rate of delinquency is consequently very low. As one jeweller put it: “The jewels of the most well-known jewellers were made to be worn – even in the street and not to be left in a safety deposit box”. In Monaco, this is not an issue.

 

 

 


International Schooling at Your DoorstepROSENGART LUXURY REAL ESTATE MONACO_INTERNATIONAL SCHOOLING

The international School of Monaco is situated in newly renovated, air-conditioned premises on the Quai Antoine 1er. Classes provide for children from their earliest years right through to the end of secondary school. Students traditionally graduate with excellent scores, and are offered positions in highly ranked universities throughout Europe and North America. In past years, the ISM pass rate in the IB Diploma exams has been 100%. ISM offers a distinctive bilingual programme where English and French are given equal value and where, from their earliest years, children learn simultaneously in these two languages. Bilingualism is known to have a positive effect on intellectual growth and enriches and enhances a child’s mental development. The IUM, or international university of Monaco, is the only university which provides a business education fully taught in English on the Cote d’Azur. With 60 nationalities represented in the student body and faculty, it is the premier institution for higher education in the Principality of Monaco. The university has Bachelor programmes in business administration and communication & entertainment management, Master of Science programmes in international management, marketing, finance, sport and luxury. MBA and DBA programmes are also run at the IUM.


Health and Medical Facilities on a Par with the World’s Best ROSENGART REAL ESTATE MONACO_ IM2S

For many people, when considering any place to live, one of the prime concerns is “What happens if I need medical care?” Monaco takes great pride in its outstanding medical facilities. To this end, the Princess Grace Hospital is equipped with the latest generation of medical equipment, including scanner and the latest MRI gear, and a complete new ultra modern 20 levels high standard hospital is being built providing more space per bed and the best technology and care. The Cardio-thoracic centre (CCM) on the port of Monaco attracts patients from around Europe. The CCM provides each patient with the services of a team boasting extensive experience and expertise enabling them to offer medical and surgical treatment for all thoracic and cardiovascular diseases in both children and adults. In 2010, CCM was nominated by Siemens as the first Siemens European Reference Centre for Cardiovascular Medicine. Monaco’s haemodialysis centre is, for its part, renowned for the treatment of kidney failure.


HSH Prince Albert II, Monaco’s Head of StateROSENGART REAL ESTATE MONACO _ PALAIS PRINCIER MONACO

Monaco, along with Liechtenstein and Vatican City, is one of just three states in Europe where the monarch continues to play an active role in day-to-day politics. His Serene Highness Prince Albert II, the reigning monarch and head of state, was born on March 14th, 1958. He married the Olympic swimmer Ms Charlene Wittstock on 1 & 2 July 2011, and she has since been referred to as Her Serene Highness Princess Charlene of Monaco. Under what is known as a constitutional Monarchy, executive power is held by the Prince, and legislative power is divided between the Prince, who initiates laws, and the National Council (equivalent to the state parliament), which votes on them. The Minister of State (Monaco’s equivalent to a Prime Minister) and the National Council directly refer to the Prince for the state’s administration.

Judiciary powers also belong to the Prince, who has executive authority in the Principality’s courts and tribunals. Any revision of the Constitution must, however, be jointly agreed by the Prince and the National Council. The Prince represents the Principality in all foreign relations. Prince Albert II is especially very active in global environmental affairs, and to this end, the organisation bearing his name, the Prince Albert II Foundation was formed in 2006, dedicated to the protection of the environment and the promotion of sustainable development on a global scale.

The Principality of Monaco an Ideal Place to Invest in

Not just a lifestyle, but an exceptional investment, a lucky few experience it close-up…

The population of Monaco, the world’s smallest state after the Vatican, represents less than that of many average sized unknown towns around the globe, and there have been record numbers of new residents for the past two years.

So why is Monaco so legendary? The name itself awakens thoughts of glitz, glamour, elegance and riches. But that’s just the appearance.

The allure of this Principality nestled on the Mediterranean coast- is that it’s an independent state with a long history. However it is also assumed to be an integral part of the French Riviera. Thereafter we will outline just what makes Monaco so special and why it attracts countless stars from the worlds of sport, music, cinema, science and enterprise. In addition to its surface area (less than 2 km2), Monaco is famous for its numerous advantages for investors.

In addition to political stability, Monaco offers a stable economic environment. The security of the real estate market and the possibility of personalizing one’s investment, make the Principality of Monaco an ideal place to invest in.

 

Monaco Major Fiscal AdvantagesROSENGART REAL ESTATE MONACO YACHT

The main principle of Monaco’s fiscal system is the total absence of direct taxation on persons or on companies. The Principality’s main source of income is value added tax (VAT in Monaco is 20% as in most European countries), which is paid on goods and services in the usual way. The main attribute of Monaco’s fiscal policies is the total absence of direct taxation for Monegasque residents as there is no income tax, capital gains tax or wealth tax.

In other words, there is no property tax, no tax on housing, no inheritance tax and no gift tax.

Investing in Monaco can be financially rewarding, as there is no income tax or capital gains tax on individuals residing in the Principality.

In addition, there is no Monegasque estate duty on assets situated outside the Principality. The Monegasque property prices were not significantly affected by the global crisis: hence a safe market. A Monegasque real estate investment could play an interesting role regarding risk reduction. An investor wishing to allocate funds in a low-risk asset could eventually include a Monegasque property in his or her international portfolio.

Banking and Financial Sector in Monaco

Monaco is recognized for its wealth management and advice services, which support affluent residents and non-resident clients. The Principality is renowned for having a very solid and broad offering of banks in all categories, whether for investment, business or regular private use. The development of the Monegasque financial market is characterized by the increasing internationalisation of its actors respecting high professional standards. Financial professionals settling in Monaco are required to have a certified level of knowledge. With 37 banks, and more than 42 portfolio and mutual fund management companies, the banking sector constitutes a large part of Monaco’s financial activity. Bank confidentiality is one of the main principles of Monegasque banking.

Favourable LegislationROSENGART LUXURY REAL

A law of July 1997 guarantees protection of savers and investors. It regulates the management, transmission and advisory activity of stocks and forward financial instruments. It is one of the key reasons why international financial institutions have established themselves in Monaco to develop activities of financial management and investments. This development nevertheless takes place in a context of great security.

Confidentiality of Information collected by Banks and Portfolio Management Companies

Bank managers and employees operating in the Principality are bound by strict rules of professional secrecy. This commitment is designed to protect customers’ interests and create the confidence required for the banking sector to operate effectively. In their relationships with depositors and borrowers, banks obtain extensive information on customers’ financial status, business affairs and private lives. They have a duty to preserve the confidentiality of all information concerning transactions—notably investment activities—and accounts (existence, balances, etc.). The same rules apply to portfolio management firms.