Why Is Monaco the Most Expensive Place on Earth?

Ajouté : 2026-05-27

[00:00:00]Why is one tiny island the most expensive place on Earth?

[00:00:04]This is Monaco, a country so small you can walk across [music] it in 20 minutes.

[00:00:09]Entirely surrounded by France on one side, the Mediterranean on the other. No farmland, no oil, no natural resources whatsoever. It should be broke. [music] Instead, the average property price here is over $50,000 per square meter.

[00:00:24]More expensive than Manhattan, London, and Tokyo combined into one [music] price tag.

[00:00:30]Here's why. In 1869, Monaco abolished income tax completely, forever.

[00:00:37]Suddenly, the wealthiest people in Europe had a very good reason to move somewhere very small.

[00:00:42]More millionaires moved in, land didn't grow, prices exploded.

[00:00:47]Then Monaco did something nobody else could. They built into the sea.

[00:00:51]Literally reclaimed land from the Mediterranean just to create [music] more space to sell.

[00:00:56]Today, 30% of residents are millionaires.