Monte Carlo is the most expensive property market in the world for the second year in a row, according to an annual report.
A shortage of space and its status as a tax haven as well as its glamour and nightlife puts it on top of the annual survey of real estate markets published by Global Property Guide.
Average prices in Monte Carlo are $4,420 per square foot, more than double that of second placed Moscow with $1,937 per square foot and third placed London at $1,928 per square foot.
'Monte Carlo is a city of the rich, small and concentrated,' said Matthew Montagu-Pollock, publisher of the online real estate research firm's report. 'The primary reasons for such high prices are related to a shortage of space and tax havens,' he added.
