The sovereign principality on the French Riviera has never been a more vibrant and glittering attraction…
Simply put, Monaco exudes prestige — from the nine-figure superyachts to discreet banking venues that feel more like a country club than the usual three-tellers-and-an-ATM we see Stateside. Here in the second smallest sovereign state after the Vatican, citizens enjoy a zero income-tax policy, a rather attractive fiscal climate for the world’s wealthiest global citizens. Real estate is a realm unto itself, quite literally, as most prized properties transfer either dynastically or between aristocrats. Natives still speak the Monégasque dialect, which sounds like a soulful blend of French and Italian. The 200-hectare principality feels so consummately vetted, it has reigned as the de facto VIP suite of Europe for generations.
What Monaco lacks in size it more than makes up for in sheer power in the global property market. Lying within the glamorous French Riviera, Monaco remains the most expensive prime residential market in the world, according to Savills’ 2020 property report, with Monte Carlo holding pole position. At nearly three times the price of fourth-placed London, suddenly Mayfair seems like a fire sale.
An uptick of fintech entrepreneurs looking to move and work within Europe has zeroed in on Monaco as an ideal base camp with an attractive tax regime. In other revealing metrics, a Monte Carlo furnished penthouse rental for one year is comparable to the sticker price of a brand new Rolls-Royce Phantom. Low supply and high demand creates the perfect storm for a feast of ego and escrow.
From the moment Grace Kelly wed Prince Rainier III at Monaco Ville’s Cathédrale de Monaco in 1956, the mythic House of Grimaldi and Hollywood legend have been indelibly intertwined. The aura remains to this day, embodied in Prince Albert II and his family, the living emblem of Monaco. An avid ocean conservationist, the monarch established the Prince Albert II of Monaco Foundation in 2006 to “protect the environment and promote sustainable development.” The head of one of Europe’s longest- ruling royal families is on a mission to establish Monaco as a leader in planet preservation, by achieving carbon neutrality for the Principality by 2050.
Clean air and water are the foundation of a healthy population, vital to Prince Albert’s positioning of Monaco as a sporting strong hold. The royal five-time Olympian led Monaco’s six-strong team of athletes to Tokyo 2020. The Prince’s presence added gravitas at the aquatics centre, as he cheered on Monaco-born swimmer Claudia Verdino, herself the daughter of a Monégasque Olympian. Verdino opened up to us on the sublime pleasures of living in a haven for elite athletes. “I am a sun lover; my family takes our boat from Port Hercule, and within 40 minutes we can escape to les îles de Lérins, a group of little islands off Cannes,” she shares candidly. “It’s a magical place with clear water and beautiful yachts, it feels like you are in Martinique or another heavenly place.”
Heavenly indeed, days of unrelenting hedonism kick off at the Yacht Club de Monaco. The symbolic focal point of a remodelled harbour front, Lord Norman Foster’s design celebrates the nation’s nautical traditions. For yachting connoisseurs at the Monaco Yacht Show, the Riva Aquarama lounge on the club’s top floor is the place to be. Between Riva’s personalized global services and Monaco Boat Service’s conciergerie, there is no request too extravagant.
Monaco’s penchant for panache hospitality dates back to 1863 and the establishment of Monte-Carlo Société des Bains de Mer. The fabled company was born of a sovereign ordinance issued by Prince Charles III, entrusted to French businessman François Blanc, to cultivate robust gaming and hotels in Monaco. The regent power-move clearly paid off in spades. The iconic Hôtel de Paris Monte-Carlo anchors the aura on Place du Casino. The jewellers on the promenade surely cast a spell on the likes of Liz Taylor, while currently capable of keeping Rihanna in the carats she’s grown accustomed to. Le Louis XVAlain Ducasse à l’Hôtel de Paris is a destination unto itself, a marvel of three Michelin stars to satiate your palate to a sublime finish. The 350,000-bottle wine cellars are an unparalleled library of libations, should local F1 racing luminary Lewis Hamilton drop in to toast a victory. The cellars famously survived World War II and played host to Princess Grace’s 20th wedding anniversary.
Speaking of men who thrive at 200 mph, Monaco is also home to Hamilton challengers Max Verstappen and Charles Leclerc. The undisputed playboys of the sporting world, F1 drivers light up the nightlife scene as much as the track. Indeed, Formula 1 Grand Prix weekend is peak Monaco, with McLaren and Mercedes battling for pole position. Where else can paddock insiders party with Bella Hadid and Tom Brady aboard the TAG Heuer yacht takeover? The official timekeeper’s White Party, a chic curtain-raiser ahead of the Monaco GP, went wild when the Super Bowl champ torpedoed a football from the SeaDream’s pool deck across the harbour to a sports cruiser yacht, where F1 star Daniel Ricciardo leapt to the challenge, resulting in a dramatic photo-finish catch. Netflix can’t script a sexier scenario.
Celebrating in style is a Monégasque way of life. Olympic rower Quentin Antognelli, one of Monaco’s flag bearers at Tokyo 2020, certainly knows how to toast a win. Recalling a particularly spirited night at Société Nautique de Monaco’s restaurant, he muses, “One of my best memories is the celebration after we won the silver medal at the World Coastal Rowing Championships with my mate Mathieu Monfort. We enjoyed a casual dinner, and celebrated with champagne with Prince Albert, alongside our cherished old president Jean-Marc Giraldi.” For Monaco residents like Antognelli, Saint-Tropez is a breezy drive away, preferably in a Ferrari convertible. Every summer, the resort town is ground zero for the Mediterranean party circuit; by night, HÔtel Byblos’s Les Caves du Roy is the thriving sonic and social centre of Saint-Tropez. The Riviera’s prime party venue since 1967, Les Caves is up there with New York’s Studio 54 and Pacha Ibiza in terms of nightclub legend, decades of celebrity flings and folly. The VIP Room is similarly woven into the infamous fabric of Saint-Tropez; the supper and dance club draws a catwalk of the sexiest playmakers in the world. For a more discreet hideaway, a less than 20-minute drive from VIP lies Le Club 55. Back in 1955, a scantily clad Brigitte Bardot spiced up Pampelonne Beach on the set of And God Created Woman, inspiring local couple Bernard and Geneviève de Colmont to serve up meals to the cast and crew from their rustic fisherman’s hut. The film’s release the following year christened both Bardot and Saint-Tropez as international stars.
From Coco Chanel sunbathing on the CÔte d’Azur, to Bardot’s frisky frolic in the surf, the pursuit of personal pleasure lies at the heart of this enclave. Even Picasso’s frequent stints living and painting along the storied coast could not rival Bardot’s Bambieyes, bee-stung lips, and big, tousled hair in putting Saint-Tropez on the map. Rebellious, yet naïve; her libertine view of the body personified the spirit of the destination. God may have created woman, but Bardot created the French Riviera of our collective consciousness.
By SI SI PENALOZA
Photography by MIKE JONES
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