Savills Monaco Presents the Columbus Residences - Luxury Serviced Apartments in the Heart of Monaco

The Columbus Residences - Luxury Serviced Apartments in the Heart of Monaco

Savills Monaco is delighted to be marketing the Columbus Residences exclusively for rental. The Columbus Residences are a range of exclusive and luxurious serviced apartments designed and furnished to an outstanding level, making for a truly superb home in the Principality.

Ideally located close to the Fontvieille marina, in front of the Princess Grace Rose Garden, a few steps from the heliport and only a five minute drive from the centre of Monte-Carlo.

A selection of luxury apartments designed and furnished to an outstanding level, ensuring your comfort in a true home from home pied à terre.

The Columbus Residences features apartments ranging from contemporary studios and duplex apartments to a stylish two bedroom penthouse with exceptional roof terrace with plunge pool.

The residences boast an excellent setting within the ever popular Fontvielle quarter of the Principality of Monaco and form part of the sought-after Columbus hotel. The residences benefit from a full range of services, including parking, car service, concierge and use of the hotel facilities which including a state of the gym, a newly refurbished restaurant and housekeeping.

The apartments feature classic and contemporary design, expertly fused to ensure stylish, luxury interiors.

Boasting terraces, excellent ceiling heights and full height windows, accommodation is light, bright and open.

The apartments include fully fitted kitchens with branded appliances in addition to tableware, and all items for cooking and preparation.

Contact Savills Monaco today for more information

Monaco – the most expensive property market in the world

Monaco’s property market is the most expensive in the world, with demand for real estate of all types remaining high.

The exclusivity of Monaco is unparalleled. One of the smallest states on earth, only Vatican City is smaller by area, Monaco is home to more millionaires as a proportion of population than any other country, according to a report from WealthInsight.

Celebrities, titans of industry, aristocrats, and other global elites call the Principality home. Monaco’s appeal is far-reaching. Fine dining, luxury shopping, a sporting calendar which seems tailor-made for the global elite, an attractive fiscal regime for residents, its location on the Mediterranean, and history, all contribute to its international standing.

These factors mean that demand for real estate of all types is high, despite the recent Covid-19 pandemic. The residential property market remains the most expensive in the world and supply of new property is scarce. There are a number of new developments in the pipeline, such as the ambitious land reclamation project, Portier Cove, although these schemes are only expected to make a dent in the supply shortage.

Monaco remains the most expensive location for residential property with an average price per square metre of over €48,000. Within Monaco itself, the district of Monte Carlo is more expensive still with an average price of €53,000 per square metre.

Only values in Hong Kong come close to competing for the title of most expensive real estate. Monaco and Hong Kong are both severely constrained by available space and bolstered by their global reputations. Prime property in New York costs half as much as Monaco, while London and Paris cost 60% and 68% less respectively.

The market in 2019

The average sale price in Monaco in 2019 was €48,151 per square metre, 1.3% below the value recorded in 2018. This small fall follows prices seeing an exceptional rise of 18.1% the previous year as prices reached a high plateau.

Transaction volumes fell by 12% in 2019 versus 2018, driven by an 18% decline in sales of properties priced under €5m. This decline was caused by a drop in the number of one- and two-bedroom properties available for sale in comparison to 2018.

OUTLOOK

Resilience

Monaco punches well above its weight on the world stage with a profile in line with top-tier global cities. The diverse demand base means the Principality will remain a sought-after destination. Additionally, Monaco has proved to be relatively immune to political and economic instability, especially in light of Covid-19, and this resilience is forecast to continue to attract buyers and renters.

Development activity and prices

The global reputation of Monaco ensures that demand levels across the Principality outstrip supply in this space-constrained location. Going forward, though there are new developments in the pipeline, the promised new units are fewer than needed. These dynamics mean that prices, although the highest in the world, are expected to remain stable.

Amenities over views

As more towers are built across Monaco, properties which once had a sea view might be obstructed in the future. To counteract this, developers are prioritising amenities like pools, gyms, cinemas, spas, and parking garages.

Rental values

The outlook for the rental market is likely to be dependent on property size, as seen in 2019. As the Monegasque government examines residency applications more closely, it could become more difficult for couples and individuals to obtain residency through renting a smaller property, causing potential rental decreases for those sizes. However, we expect demand and rental values for larger properties to continue to increase.

Article by Irene Luke, Partner at Savills Monaco

Callender Howorth Reveals Latest Residential Transformation in Buckinghamshire

LATEST RESIDENTIAL TRANSFORMATION IN BUCKINGHAMSHIRE

Callender Howorth Interior and Architectural Design has just completed a massive luxury transformation of a sprawling 6000 sq. ft neo-Georgian House in the depths of the Buckinghamshire countryside.

This stunning renovation included gutting the house back to brick to allow for a complete interior design refresh as well as providing all of the furnishings and styling, a total and complete home set up.

One of the signatuCallender Howorth Interior and Architectural Design has just completed a massive luxury transformation of a sprawling 6000 sq. ft neo-Georgian House in the depths of the Buckinghamshire countryside.

This stunning renovation included gutting the house back to brick to allow for a complete interior design refresh as well as providing all of the furnishings and styling, a total and complete home set up.

One of the signature elements was a huge custom chandelier for the hallway that Callender Howorth personally designed in glass.

Creative Director Mark Howorth explains, “For this unique chandelier piece we worked closely with a glass blowing factory outside of London to create the exact colour, texture and fee to each glass globe in the custom piece. All finishes were sourced internationally from the custom stonework to the hand made doors and ironmongery. It was all about the details on this project allowing us to create an absolutely bespoke and refined home.”

One of the standout features for this luxury contemporary home was a custom cinema on the top floor as the clients love to entertain. In order to ensure a true cinematic experience, Calendar Howorth worked closely with an audiovisual specialist which included the creation of custom made cinema chairs auto-adjusting to the body’s height, featuring illuminated cup holders and covered in soft chenille fabrics giving this cinema room a truly luxurious comfortable feel.

For a complete view of the project and video visit here
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