Monaco Real Estate Market in figures

19/04/24

2 MIN

Real Estate

Despite the inflationary trend observed since 2022, nearly all the Principality’s economic indicators are in the green. In 2023, 416 transactions have been completed for a cumulated value of €3.2 billion for sales and resales.

The sales represent €1.040 billion in 2023, nearly one in two properties sold has 4 bedrooms or more, for a sale price of €28M. Two thrirds of them were off-plan properties, and one thrid for flats delivered less that 5 years ago.
The 4 bedroom apartments is the only type of flat that is stable compare with 2022, while the smaller apartments sales record a significant decrease. The tofile of buyers has canged. It shows that there are more families who are relocating in Monaco, attracted by the inovating projects and the new constructions, such as Mareterra, One Monte Carlo, 26 Carré d’Or, Tour Odéon, Testimonio, L’Exotique,the new Larvotto district, etc…

The resales mean price per square meter is 51,418 in 2023. There is an increase of 1% bringing it close to the 2021 record with €52.000/ square meter. 6 out of 10 flats have been sold for more that €20M.

The most successful area for the type of sales is Monte Carlo and La Rousse districts. Of course the very centre of monaco with the Casino’ gardens, the shoping center of the Metropole, the new Monte Carlo One complex , with boutiques, hotels and retaurants is the most desiderable area. And the Larouse also for the proximity of the beaches, promenade area and restaurants.

Residential market – Price per square meter

In Monaco the lowest price per square meter is around 25.000€. It rises up to 80.000€ depending on the area and the quality of the building. and even more for outstanding properties, most of the time out market.