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Michele Tecchia: A square meter in Monaco goes for around $48,000, making it the ideal place to invest your money

Michele Tecchia was born in Monaco in 1971. He lived in the state for the better part of his early life until he became a youth. At the age of 16, his parents divorced, dividing his life between the principality and London. He has two kids to who he dedicates most of his time when not working. Michele speaks both English and French, and he enjoys playing triathlons. As a real estate expert, he practices in Monaco.

Michele Tecchia Educational Background

Michele Tecchia attended Finchley Catholic High School in his teen years, from 1986 to 1990. He later joined the University of Sunderland in 1990, studying for his BA in Management General and Business Administration. In 1992 he joined the University of Bedfordshire, where he studied for his Master of Business Administration. His educational background in business administration has greatly contributed to his current career success.

Michele Tecchia practiced and gained experience in London, but currently, he practices in Monaco.

He began his career in the photocopier industry as a salesman. His duties were marketing for various applications, he later moved to market Xerox copiers and finally for more integrated applications such as full-color printers and black and white. He later progressed to printing solutions marketing, which made him more involved with printing machine processes. During this period, he travelled to Asia occasionally for the machines.

Between 2008 and 2009, he consistently travelled to Beijing every two weeks. Travelling for 13 hours every two weeks took its toll on him, wearing him out both physically and emotionally. The trips were having a negative effect on his social life and family. Michele decided to tap into a new career that involved travelling less often.

Michele Tecchia ventured into real estate due to its high growth potential and reduced risks, even though it lacked the technological pace. His new venture was ideal because it allowed him to focus on one destination at a time, making the most of it. As an accomplished realtor, he has made great use of the last decade by investing wisely. Tecchia later moved to the United States and Monaco, whereby he practiced his skills. As an experienced realtor, he has invested in many destinations worldwide, including Monaco, the UK, and France. Michele has been involved in numerous commercial projects, including ground-up development to adding value to properties, and currently, he has over $10 million in his investments.

Why did Michele Tecchia choose Monaco?

Location is a crucial element in real estate. Not only does it determine the sector’s success, but it shapes how the industry will look. Like Tecchia, many agents have focused their time and money on the principality. In the 19th century, the principality was a small town well known for prohibiting Gambling. In the 1960s, things turned when businessman Francois Blanc, wealthy from his Gambling, showed an interest in the principality and invested in a casino. Prince Charles II and Francois Blanc had a good relationship, so he allowed him to set up shop. The casino saw significant success by attracting many fortunes.
The casino’s success brought up land scarcity. Due to tax reasons, numerous hotels, luxury facilities, villas, and businesses had already set up shop. This led to urban planning for the state to be developed. When Prince Rainier became the state’s ruler, the land was already scarce, and the principality had already attracted investors because of its tax laws. This necessitated urban planning for the state.

Michele Tecchia : Currently, land in the state is not cheap and is considered among the most expensive in the world.

A square meter in the principality goes for around 48,000 euros, making it the ideal place to invest your money. The world’s most expensive flat was sold for 300 million euros in the principality. Conversely, the state is the most populated place in the world, with a population of 37,000 people per square kilometer, and it has even surpassed Paris.

To satisfy its huge population, the city uses every inch of space it has in the sky, the sea, and underground. Professionals urge due to the scarcity of land in the state; one must either create or look for it. The city plans to seize basements for parking, water management, and waste treatment.
The state is divided into four sections: Monaco-Ville, the historic city overlooking the Mediterranean; The central residential and tourist district of Monte Carlo; La Condamine, which contains the port area and northwest area and Fontvieille, an area reclaimed from the sea.

The La Condamine is divided into four sections: the port area, Les Revoires, La Colle, the Jardin Exotique and Moneghetti. Monte Carlo is split up into four sections: Saint Roman/Tenao, which is on the northeast corner, Monte Carlo proper, the center; and Larvotto, which is a beach area east that is on the east of the state.

The Great Tax System in the Principality

Another factor that led to Mr. Tecchia practicing in the state was its fantastic tax system. The city excludes residents, companies, and Monegasques from paying taxes, and there is no tax on wealth. The state gets a huge part of its revenue from real estate. According to Tecchia, the city comprises billionaires who make their investments in real estate. The state earns revenue from VAT sale of flats, new villas, and transfer of duties from selling new flats.

Conclusion

Michele Tecchia is an experienced Realtor in London, the United States, and now in Monaco with a proven track record of working in the real estate industry. He is skilled in short sales, sellers, foreclosures, and dealing with investors. Additionally, he works well with people buying homes for the first time. Mr. Tecchia is reputable, well experienced, and successful in his craft.
Simply put, he is a reliable and enthusiastic individual with a keen eye for detail and drives to be a leader in the right environment. He is an excellent communicator, demonstrated by his working with people of different backgrounds and ages while he was studying. His current career has allowed him to spend quality time with his family and get the most out of his life by participating in his hobbies and passions.

More info about Michele Tecchia Real Estate in Monaco: https://www.micheletecchiamonaco.com/