This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Icon Property Reports Strong Monaco Housing Market As Some Countries Continue To Suffer

MONACO, Oct. 23, 2013 /PRNewswire/ -- Property prices are reportedly increasing in the more stable countries of Europe, such as the UK, however, remain volatile in Greece, Spain and Italy.

The problems in Greece's property market are well-documented and are a result of the country's larger economic and governmental issues. Greece was recently bailed out by the European Union, but its economy is still barely keeping its head above water, resulting in decreased property prices.

Just like Greece, Spain was also bailed out by the EU. The country has still not recovered from this and its weakened economy, unemployment is rampant, and this is pulling down property prices. The unemployment in the country is also having the double effect of fewer buyers in the property market.

When compared to the principality of Monaco the picture couldn't be more different. Having been affected by the recession in 2008, Monaco's real estate market is most definitely bouncing back as strong as before, according to government data the total transactions in 2012 were to the same peak in 2008, around 1.1 billion euros. Having a very different fiscal and tax to the EU, Monaco shows no signs of floundering in the same way as its neighbours.

Despite Europe's housing market struggles Eduardo Chacon, General Manager of Icon Property, is optimistic and calm in regards to the Monaco market. "While much of Europe's housing market is struggling, Monaco's market remains unchanged. European woes are not reflected in Monaco property prices."

Prices in Europe have been in the doldrums for some time now. Even in the UK, where the economies are stronger than some of the other countries in their regions, there have not been significant increases in the property market since 2010.

" Monaco is a separate entity from other countries. Its economy is stronger and its housing prices are among the highest in the world. Monaco is not part of the European Union and does not suffer as the EU suffers," says Mr. Eduardo Chacon. He contends that the property market in Monaco has always been a step above its more liquid counterparts.

SOURCE Icon Property

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs