Monaco’s Real Estate Landscape in 2024
2024-07-15
The Monaco Property Market: A Beacon of Stability and Luxury
Monaco's real estate market is thriving, offering a safe haven of stability and luxury in an ever-changing world. As we move through 2024, the Principality remains one of the most desirable and expensive places to live, attracting high-net-worth individuals from across Europe. With its unique blend of security, political stability, and a favorable fiscal climate, Monaco continues to shine as a premier destination for real estate investment.
Rising Prices and Eco-District Projects
Monaco's property market is characterized by its soaring prices and innovative development projects. Over the past decade, the average price per square meter has seen a remarkable 71% increase, rising from €28,000 to €51,418 in some districts reaching €65,857 (Larvotto) in overage. The price per square meter crossed the €50,000 threshold in recent years, and during 2023, it saw a modest growth of 0.9%, bringing the average price per square meter to €51,418.
With the exception of Monte-Carlo, where it falls by 6.2%, the average price per square metre rises in every district of thePrincipality, exceeding its all-time record in 5 of the 7 districts where it is calculated.
The biggest increases in the average price per square metre are at La Condamine, where it topped the
€50,000 mark for the first time (€54,100, an increase of around 20%), and at Les Moneghetti, where it is up 18.3% to€46,511. At Jardin Exotique, it rose by 10.0%, breaking through the symbolic €40,000 bar for the first time.
Larvotto remains the district with the highest average price per square metre, up 5.6% to €65,857.
As of May 2024, the average price per square meter for apartments is €55,650, with prices ranging from €45,116 to €82,188. The market for houses and villas, which constitute about 4% of all properties, shows an average price per square meter of €68,286, with prices varying between €40,577 and €96,683. These figures highlight the strong demand and the premium placed on properties within the Principality.
Sustained Demand and Premium Locations
The districts of Larvotto and Monte-Carlo, particularly the prestigious Carre d’Or, continue to be the epicenters of real estate demand in Monaco. These areas attract both residential and commercial buyers, drawn by the Principality’s reputation for business excellence and its strategic location on the international stage. Despite global economic fluctuations, Monaco's real estate market remains resilient, absorbing the impacts of past economic crises and maintaining steady growth.
Investing in Monaco: A Wise Choice
Monaco’s allure as a real estate investment destination is unmatched. The Principality offers a unique combination of advantages that appeal to investors: a stable political environment, exceptional security, and an attractive fiscal policy. The demand for property in Monaco remains robust, driven by European buyers from countries like France, Italy, Germany and as well as a noticeable influx of UK residents post-Brexit.
Investors recognize that purchasing property in Monaco is a sound decision, with historical data showing consistent price appreciation. Properties in new developments often sell quickly, sometimes even before construction is complete, and resale values frequently see significant gains within a short period. This trend highlights the enduring value and desirability of Monaco’s real estate market.
The Appeal of Monaco’s Luxury Lifestyle
Monaco is renowned for its luxurious lifestyle, attracting celebrities, sports stars, and high-net-worth individuals who seek the exclusivity and prestige the Principality offers. The demand for spacious, high-end properties with premium amenities—such as panoramic views, swimming pools, spas, and private terraces—continues to grow. This preference for larger, more luxurious homes reflects a broader trend among buyers seeking not just a residence, but a statement of their status and lifestyle.
The Future of Monaco’s Real Estate Market
Looking ahead, the Monaco real estate market shows no signs of slowing down. The introduction of new ultra-luxury residences and the continued development of eco-district projects will only enhance the Principality’s appeal. With its unique combination of safety, stability, and luxury, Monaco remains a top destination for those seeking an exclusive and prosperous lifestyle.
Monaco Properties is at the forefront of this dynamic market, offering expert guidance and a curated selection of the finest properties available. Whether you are looking to invest in a luxury apartment, a charming villa, or a commercial property, our team of experienced agents is here to help you navigate the thriving Monaco real estate landscape. Contact us today to explore the exceptional opportunities that await in the heart of the Mediterranean’s most prestigious principality.
About Us
Since 2001, Monaco Properties has established itself as a premier name in the Monaco real estate market, renowned for our expertise, integrity, and unwavering discretion. We specialize in connecting discerning individuals with the finest properties for sale and rent within the prestigious Principality of Monaco. As an esteemed member of the Chambre Immobilières de Monaco, we proudly adhere to the highest standards of professionalism and excellence.
Our dedicated team is passionate about Monaco’s thriving real estate market and is committed to providing personalized service to meet the unique needs of our clients. Whether you are interested in the latest trends in Monaco real estate prices or considering investing in a luxurious property in this iconic locale, we are here to guide you every step of the way.
At Monaco Properties, we don't just find you a flat; we help you discover your dream home. Embark on your Monaco real estate journey with us, and let our experienced team assist you in navigating one of the world’s most dynamic and exclusive property markets. Contact us today to explore the unparalleled opportunities that await in Monaco's luxurious landscape.
Over the years, we have earned multiple prestigious awards and accolades, including:
- European Property Award 2022/2023: Best Real Estate Agent in Monaco awarded to Martina BORBELYOVA from Monaco Properties.
- European Property Award 2023: Best Real Estate Agency Website and Best Property Agency/Consultancy Website in Monaco for our innovative online platforms, www.monacoproperties.mc.
- Luxury Lifestyle Awards 2024: Named 'Best Luxury Real Estate Agency Marketing in Monaco' for our exceptional marketing strategies.
Contact us today to explore the unparalleled opportunities that await in Monaco's luxurious landscape.
