Monaco is a small but glamorous country on the French Riviera, known for its luxury lifestyle, prestigious events, and attractive tax regime. It is also home to the most expensive real estate market in the world, where investing in property can yield high returns and long-term benefits.
The real estate market in Monaco is on the rise this year following the tremendous growth in 2022, after a two-year low due to the global health crisis. The volume of transactions increased by 18.2% compared to 2021, reaching 520 transactions, while the value of transactions reached a record of €3.54 billion, after a 51.8% increase according to the Monaco Statistics Office (IMSEE).
The average price per square meter in Monaco is around €60,000, which is more than double the price in other prime locations such as Hong Kong, London, or New York. The demand for property in Monaco exceeds the supply, as the country has a limited land area of only 2.02 square kilometres and a growing population of over 38,000 residents.
The Monaco real estate market offers a wide range of properties for sale and rent, from studios to penthouses, from villas to offices, and from shops to restaurants. The most popular areas are Monte-Carlo, Larvotto, and Fontvieille, where the majority of transactions take place. The most prestigious properties are located in Larvotto or the Carre d’Or, near the Casino and the Hotel de Paris, where the prices can reach over €100,000 per square meter.
Investing in real estate in Monaco has many advantages, such as:
There will be further progression on the many new developments in the principality. The latest and most ambitious project is the Eco-district Mareterra, which will add six hectares of land to Monaco’s coastline by 2024. The new district will feature a mix of residential, commercial, cultural, and public spaces, all designed with sustainability and innovation in mind. In addition to Mareterra, Monaco also offers a variety of other new developments that cater to the high-end market. Some of these include Le Stella, a modern building with 19 luxury apartments ; L’Exotique, a stunning residence with panoramic views of the sea and the Rock; and Testimonio II, a complex that will house 150 state-of-the-art apartments, as well as a nursery school and an The International School of Monaco. These new developments reflect Monaco’s commitment to excellence and quality of life for its residents.
Contact our team to find your dream home in Monaco.