Quite frankly there’s no place quite like Monaco, it’s been synonymous with Formula One for decades. It’s the most densely populated nation, even though it houses just 37,000 people – and F1 drivers past and present are well represented in this group. But why do so many F1 drivers live in Monaco?
The weather for a start – Monaco has beautiful warm weather for most of the year, it’s on the coast, the social life is fantastic, it’s safe – there’s CCTV everywhere, it’s central to Europe – if you’re travelling to various European races you’re pretty much in the heart of Europe and yes there’s a tax advantage – there’s no tax to pay if you live there.
If you’re on big money like a lot of the F1 drivers and you’re in a high tax bracket in your own country, there’s a huge financial advantage in packing up and moving to somewhere like Monaco. Yes it’s an expensive city – a modest studio apartment will set you back around 600,000 USD and that’s just for a studio!
So, what current F1 drivers live in Monaco?
But it’s not just current F1 drivers who choose Monaco as their preferred place of residence. A lot of past F1 drivers as well as current reserve drivers decide to maintain their affiliation and residence with the beautiful seaside Principality of Monaco. So, what past F1 drivers still live in Monaco?
Now that’s quite a stable of Formula One people and Monaco has a rich history when it comes to Formula 1, going back to 1929 when the first race was held on the city streets. The Monaco GP is pretty much the jewel in the F1 crown, and it’s held on the last Sunday of May every year.