Why do most F1 drivers live in Monaco?

It is safe to say that F1 drivers are among the highest-paid athletes in the world. As a result, they own stunning homes in some of the most exotic locations on the planet. However, the majority of them live in the Principality of Monaco.

One of the major reasons why F1 drivers and other celebrities choose to reside in Monte Carlo over other places is because of the lenient tax rules, aside from the principality's excellent standard of living, of course.

Monaco is a sanctuary for many high-class individuals since it does not impose taxes on its citizens' income, wealth, or capital gains.

The majority of drivers, including Lewis Hamilton, Max Verstappen, Nico Hulkenberg, Lando Norris, Sergio Perez, Valtteri Bottas, Alex Albon, and Charles Leclerc, reside in Monte Carlo, Monaco. Even those who don't regularly live in the principality at least have a house there.

Furthermore, the place is highly significant in the sport since the Monaco GP is not only considered one of the most prestigious races in F1, but all of motorsport. Ever since the sport's inception in 1950, the Circuit de Monaco has been part of the calendar. Even before most drivers started living in Monaco, it was already famous for the racing spectacle it offered.

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Max Verstappen on winning the Monaco GP in F1 for the first time

Despite winning several races since his debut in 2016, Max Verstappen won his first Monaco GP in 2021, when he was in an intense battle with Lewis Hamilton for his first World Championship.

After winning the prestigious race, the Red Bull driver said that it is a dream of every single F1 driver to win in Monaco. He reminisced about how he used to watch the race when he was little and felt extremely proud to be finally winning it.

“You always want to win this Grand Prix. I remember when I was very little already watching this Grand Prix. Standing here I’m very proud but I’m also thinking ahead it’s still a very long season. Of course, it’s a great way to continue,” he told the media after his win.

The Monaco GP is as reputable as other motorsport races like the Indianapolis 500 and the 24 Hours of Le Mans. These three races are collectively called the Triple Crown of Motorsport.