- Our location
REDD is headquartered in Monaco where it operates two offices, as well as one in London. Each office specialises in every aspect of local real estate.
London is the capital of Europe in terms of its impact on the arts, commerce, education, entertainment, fashion, finance and tourism. Together with New York and Hong Kong, London forms part of the trio of the most influential global cities and the city centre itself is a concentration of vitally important financial, administrative, diplomatic, communications and media institutions.
REDD conducts its business in some of London’s most prestigious areas, the so-called “golden postcodes” of Mayfair, St James’s, Knightsbridge, Belgravia, Marylebone, Chelsea and South Kensington. Over the past decade, the majority of super-prime properties were period buildings but the market dynamics have shifted in recent years to newly created super-prime developments. Buyers pay greater attention to space, layout, architecture, craftsmanship, amenities and views.
Buyers also prefer a view onto garden squares, which are prominent across Belgravia for example. On average, a home with such a view can command a 10 percent premium over one without.
Mayfair was always London’s best address through the late 18th and 19th centuries, becoming primarily business district throughout the early 20th century. However, large-scale planning by the Grosvenor Estate over the past few decades, including the re-generation of Mount Street that features high-end retail outlets and restaurants, has lifted Mayfair’s profile back to the top of prime central London locations.
Monaco is the most expensive prime residential market in the world. The average price per square metre is now at €48,800, with an average sales price of €5,200,000 in 2018. Average prime residential values are now 237 percent higher than Paris, 194 percent higher than London and 10 percent than Hong Kong.
It’s true that much of Monaco’s real estate is a few decades old but old buildings can be redeveloped into luxury apartments with hotel-style services and amenities, ensuring that these refurbished properties will never lose their value.
Tucked into two square kilometres, Monaco is the world’s second-smallest country (after Vatican City) and, with 19,009 inhabitants per km², is the world’s most densely populated sovereign state. About 30 percent of the population is made up of millionaires.
Monaco is a principality which has been under the same constitutional monarchy for over 700 years, with an advanced, business-friendly economy, unparalleled political stability and virtually zero unemployment. Its climate is temperate, particularly mild and sunny for more than 300 days a year. It levies no income tax (except for the French and Americans). It is extremely accessible from nearby Nice and Italy, with the convenience of a heliport that connects Monaco with Nice airport, and is close to all of Europe. Monaco is also exceptionally safe: one police officer for every 68 people, which means that it has the world’s largest per-capita and per-area police force and police presence.