Very niceWikimedia![]()
Another view of the Principality of Monaco from the French Alpes-Maritimes

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Very niceWikimedia![]()
Another view of the Principality of Monaco from the French Alpes-Maritimes
Prince Rainier III (reigned 1949-2005) was known as 'le Prince bâtisseur', the builder Prince. The area of the Principality was also extended by about a 1/5, with a whole new suburb, Fontvieille, being built on land reclaimed from the sea.Yes,I can see that.
Yes; and real estate is hugely expensive before even the question arises of having a prized residence permit. However, local Monégasque nationals have various privileges, so it is not entirely a free market in real estate and rentals. Many French people work in Monaco, living at a distance also. French nationals who do have a prized residence permit still have to pay French income taxes. In return for giving up this aspect of its sovereignty, the Principality gets considerable Value Added Tax rebates from the French Treasury; there was a confrontation between General Charles de Gaulle and Prince Rainier III many years ago, this was the agreement that was subsequently worked out.I am thinking that there is alot of wealth in Monaco.