As Formula 1 returns to Monaco for the most exclusive weekend in the racing calendar, research by high-net-worth mortgage broker Enness Global, has revealed that the principality also takes pole position where property values are concerned.
But can you guess which host nation boasts the most affordable house prices?
On average, property values across the 22 nations featured in the 2021 F1 race schedule sit at £2,549 per square meter.
However, with property values in Monaco averaging a formidable £40,991 per sqm, it’s no surprise that it’s also the most desirable F1 location from a property standpoint, coming in at 1,508 per cent more than the average across all Grand Prix destinations.
Consistent demand coupled with a limited number of opportunities to climb onto the housing ladder means that property in Monaco will always maintain their value, says the broker.
Consistent demand coupled with a limited number of opportunities to climb the Monaco property ladder mean that values will always be maintained…
Singapore is the only other F1 host nation where property values hit five figures. The average price in Singapore sits at £13,130 per sqm, 415 per cent above the F1 average.
Japan takes the final spot on the property podium at £6,365 per sqm, with France, Australia, Austria, the UK, the Netherlands, Belgium and Italy completing the top 10.
The United States, Spain, Portugal, Abu Dahi, Bahrain, Hungary, Azerbaijan, Brazil, Russia, Mexico City and Saudi Arabia, rank 11 through to 21, respectively.
However, coming in at 22 and starting from the property pit lane, is Turkey. It’s home to the most affordable F1 house price at just £543 per sqm. It’s -79 per cent below the average of all F1 nations.
Says Enness, at £735 per sqm, Saudi Arabia also represents a good level of F1 house price affordability, as does Mexico (£861), Russia (£871) and Brazil (£938).
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