Monaco 2025 Rental Market: Rising Prices Due to Shortage of Large Apartments in Key Districts

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2025 - Analysis of the rental market in Monaco: the shortage of large apartments drives up prices

These are apartments with 3 rooms and more that are rented at a higher price per m² than smaller apartments.
The Carré d'Or and Larvotto districts are the most expensive districts in Monaco.
Conversely, it is in the Moneghetti district that you can find the cheapest apartments per m² for rent in Monaco.

Average rents per sellable m² by district and type of apartment :

The rental market in Monaco is marked by a shortage of apartments, especially large ones (3 rooms and more), which puts a lot of upward pressure on prices. Going against the usual trends, it is the most spacious apartments that are now rented at the highest price per square metre, exceeding the small areas.

The most sought-after districts, in particular the Carré d'Or and the Larvotto, concentrate the highest rents. The Carré d'Or stands out by being the most expensive area in Monaco, with an average rent across all categories reaching €190/m², and up to €229/m² for apartments with 5 rooms or more. Larvotto follows closely, with a stable price per square meter of around €115/m², regardless of the type of apartment.

Conversely, the Moneghetti remains the most affordable area for tenants. With an average price of €77/m², it offers a more economical solution while staying in the Principality. La Condamine and the Jardin Exotique also offer moderate rents, ranging from €85 to €99/m² depending on the size of the apartments.

The analysis by type of apartment clearly shows that 3 rooms and more often rent more than small areas. For example, in the Carré d'Or, 3-room apartments have an average rent of €164/m², compared to €144/m² for 2-room apartments. The 5 or more pieces, which are very rare, are reaching record prices, particularly in the Carré d'Or and Le Port sectors.

Average rents per sellable m² by district and type of apartment:

Rooms	1 Room (€)	2 Rooms (€)	3 Rooms (€)	4 Rooms (€)	5+ Rooms (€)	All (€)
Carré d'Or	161	144	164	183	229	190
La Rousse - Saint Roman	86	79	89	111	88	90
Fontvieille	94	94	127	113	83	94
Larvotto	-	101	115	115	115	115
Moneghetti	68	70	80	77	77	77
Port	73	74	73	147	147	98
Monte-Carlo	81	96	82	93	96	89
Jardin Exotique	83	85	88	80	104	85
Condamine	79	79	80	119	80	99
Monaco-Ville	95	89	86	89	89	89
Monaco	92	116	105	121	161	117

This trend confirms that the demand for family or large apartments is expanding rapidly in Monaco, while the supply remains limited. In this context, rents continue to rise, especially in the most prestigious areas of the Principality.