With System 1 returning this month, analysis by Henry Dannell, a number one specialist in bespoke mortgage options, has taken a have a look at the price of buying a property throughout every host circuit metropolis, revealing which sits in pole place on the subject of essentially the most unique property market.
By far the costliest Grand Prix metropolis is Monte Carlo, Monaco, residence to the Circuit de Monaco racecourse. A house within the opulent metropolis prices an astonishing common of £43,019 per sqm. To place this in perspective, it signifies that a really modest 43 sqm city-centre flat prices £1.85m, though provide is brief guaranteeing that Monte Carlo is residence to solely the world’s most wealthy and well-known residents and so the price of shopping for is prone to be far larger.
Downtown Core and Kallang in Singapore is residence to the Marina Bay Avenue Circuit the place property costs common £13,909 per sqm, making it the second most unique F1 circuit from a home value perspective, though it stays a way off the tempo set by Monaco.
The Japanese Grand Prix is hosted on the Suzuka Worldwide Racing Course in Suzuka, Mie Prefecture the place houses value a median value of £5,974 per sqm, whereas houses close to Australia’s Melbourne Grand Prix Circuit are available in at £4,972 per sqm.
A property close to Circuit Paul Ricard, in Le Castellet, France, value £4,628 per sqm, whereas these trying to purchase round Austria’s Crimson Bull Ring in Spielberg, Styria, will likely be £4,211 per sqm.
The well-known Silverstone Circuit is present in England’s Northamptonshire the place the common residence value £4,145 per sqm, whereas houses close to Canada’s Circuit Gilles Villeneuve circuit in Montreal, Quebec demand a value of £3,804 per sqm.
Shopping for close to Circuit Zandvoort in Zandvoort, Netherlands will value £3,629 per sqm whereas shopping for in Stavelot, residence to Belgium’s Circuit de Spa Francorchamps, will value £2,756 per sqm.
Essentially the most reasonably priced Grand Prix metropolis to purchase in is Mexico Metropolis, Mexico, residence to the Autodromo Hermanos Rodriguez racecourse. Property right here value simply £855 per sqm, roughly £42,000 per sqm cheaper than Monte Carlo.
Director of Henry Dannell, Geoff Garrett, commented:
“It’s by no means uncommon for super-wealthy residence patrons to snap up houses in a number of cities world wide and what higher standards to base these purchases on than the venues of essentially the most prestigious racing occasion on the planet.
Now that COVID-related journey restrictions are easing, we count on the worldwide prime market to choose up tempo after two years of pandemic paralysis. As such, these costs, a few of that are already extremely excessive, will probably enhance additional over the approaching 12 months.”