With its tax breaks for the super-wealthy, its Mediterranean climate and beautiful sea views, Monaco has long boasted the world’s most exclusive property market. But a new study has found the gap between house prices in prime London and Monaco is closing. For decades, Monte Carlo has attracted the world’s rich and famous including Sir Roger Moore, Dame Shirley Bassey and Sir Philip Green. Scroll down for video England’s capital appears to be creeping up on the principality after house prices rocketed in the last three years: Knightsbridge (above) Yet, England’s capital appears to be creeping up on the principality after house prices rocketed in the last three years.
@highlight
In Fontvieille, Monaco’s most expensive address, the average apartment is now £3.43million
@highlight
In Knightsbridge, London the average cost is £3.27million
@highlight
In lettings west London’s Knightsbridge is out-performing Monaco, costing £65 per sq ft compared to £61 per sq ft in Monaco
In the ultra prime market @placeholder has drawn level with Monaco.’