There is one quarter which is more prestigious than the rest. Prices drop by between ten and fifteen percent as one heads either East or West of this point. Fontvieille has a supplementary discount due to its less noble access, although the fact that the environment and the animation are constantly evolving assures a similar evolution in perceived values. A well hidden safe, in an apartment with surveillance by video, relayed to a central control post, which is in turn directly relayed to the Monegasque police, no doubt the most efficient in the world. Monaco is hit by the crisis, albeit later than other places.
Rental prices are down, and sales are negotiated to the limit when potential clients are available.
The market is sick, at least in the short term. The rarity is an assurance of capital gains for the future. The Monaco Prestige Real Estate Exhibition disappeared in the early part of this decade. Gone are the glory days of the 80's, where eight-million franc apartments exchanged hands over the 'phone, sight unseen. There's still a waiting list today.