Where do F1 drivers currently live and why many of them choose Monaco?

With a global calendar and multi-million-dollar paychecks, where do F1 drivers choose to call home?

While some drivers prefer to stay close to their roots, others choose to reside in different parts of the world. Yet, one location stands out as a popular choice among many of them: the glamorous principality of Monaco.

With its luxurious lifestyle and stunning scenery, this Mediterranean jewel has become a magnet for many stars from the current F1 grid, with nine drivers calling it home.

However, almost every driver has a second or even third home in another corner of the world.

Lewis Hamilton, for example, has a global portfolio with houses in Geneva and Manhattan, whereas Daniel Ricciardo splits his time between Los Angeles and his hometown of Perth.

So, where do all 20 drivers live, and why did many of them choose Monaco? Let's find out.

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Where do F1 drivers live?

Here's a rundown of who's living where in 2024.

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Why does Monaco attract so many F1 drivers?

The answer lies in a potent cocktail of sun, glamour and tax benefits. Monaco residents enjoy a zero-tax policy (no income tax, no wealth tax, no local tax, no property tax, and no capital gains tax), which is a significant advantage for those earning multimillion-dollar salaries.

Beyond the financial, Monaco's location in the heart of Europe makes it a logistical dream for F1 drivers. Proximity to major racetracks across the continent minimises travel time and fatigue.

Privacy and security are also key in Monaco's allure. The strict government regulations on photography further shield celebrities from unwanted paparazzi intrusions, allowing them to enjoy a bit of normalcy amidst the whirlwind of their careers.

However, it's not all sunshine and roses in Monaco. Even with robust security measures, privacy breaches aren't unheard of. Just last year, Charles Leclerc's home address was leaked, leading to unwanted interruptions at his doorstep.

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F1 driver residences FAQs

Where does Lewis Hamilton live?

Lewis Hamilton currently lives in a luxurious penthouse in Monte Carlo, Monaco, with stunning views of the Mediterranean Sea.

Where does Max Verstappen live?

Max Verstappen lives in a penthouse in Monte Carlo reportedly worth $16 million.

Where does Daniel Ricciardo live?

Daniel Ricciardo lives in a one-bedroom apartment in Monaco, estimated to be worth $2 million.

Do all drivers live in Monaco?

No, not all drivers live in Monaco. Some, like Fernando Alonso, Kevin Magnussen, and Carlos Sainz value family ties and cultural connections in their home countries.

How much does it cost for a square meter of real estate in Monaco?

Monaco consistently ranks as one of the most expensive real estate markets globally. As of 2024, the average price per square meter of apartments and lofts in Monaco is estimated to be around €55,000 (approximately $61,000), with luxury apartments reaching astronomical figures.

This high cost is partly driven by limited land availability and the Principality's reputation as a tax haven, attracting wealthy individuals from around the world.

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