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

Off the track

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

Where do all 20 F1 drivers live, and why did many of them choose Monaco?

By Yara Elshebiny.

Sunday 25 February 2024 21:00

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

From the sun-kissed shores of Monaco to the mountain majesty of Switzerland, the residences of F1 drivers paint a fascinating picture of personal preferences and strategic choices. While some stick to their roots, others navigate the world map like seasoned globetrotters.

Yet, one location shines brighter than the rest: the glittering Principality of Monaco, which boasts an impressive eight drivers on its resident list.

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But hold on! These residences are just part of the puzzle. 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.

Where do F1 drivers live?

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

Driver	Team	Nationality	Residence
Alex Albon	Williams	Thai-British	Monaco
Carlos Sainz	Ferrari	Spanish	Spain
Daniel Ricciardo	Visa Cash App RB	Australian	Monaco
Charles Leclerc	Ferrari	Monegasque	Monaco
Esteban Ocon	Alpine	French	Switzerland
Fernando Alonso	Aston Martin	Spanish	Spain
George Russell	Mercedes	British	Monaco
Kevin Magnussen	Haas	Danish	Denmark
Lance Stroll	Aston Martin	Canadian-Belgian	Switzerland
Lando Norris	McLaren	British-Belgian	Monaco
Lewis Hamilton	Mercedes	British	Monaco
Logan Sargeant	Williams	American	England
Max Verstappen	Red Bull	Dutch-Belgian	Monaco
Nico Hulkenberg	Haas	German	Monaco
Oscar Piastri	McLaren	Australian	England
Pierre Gasly	Alpine	French	Italy
Sergio Perez	Red Bull	Mexican	Mexico
Valtteri Bottas	Stake F1 Team	Finnish	Monaco
Yuki Tsunoda	Visa Cash App RB	Japanese	Italy
Zhou Guanyu	Stake F1 Team	Chinese	England

Why does Monaco attract so many F1 drivers?

The answer lies in a potent cocktail of sun, glamour, privacy 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. Close proximity to major racetracks across the continent minimises travel time and fatigue.

Privacy and security are also key ingredients 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.

This serves as a reminder that even in havens like Monaco, complete escape from public scrutiny can be elusive.

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.

Lewis Hamilton Daniel Ricciardo