Monaco Real Estate Market 2024 – Record Prices & Investment Trends
2025-02-10

Monaco Real Estate Market 2024: A Record-Breaking Year – Full Overview

Monaco's real estate market in 2024 set new records in both new property sales and resale values, reaffirming the Principality’s status as one of the most exclusive and competitive real estate markets in the world. With 159 newly completed apartments, an all-time high transaction value of €3.7 billion in new sales, and a record-breaking price per square meter of €51,967, the market remains highly attractive to ultra-high-net-worth individuals (UHNWI) looking for premium properties.

However, while new property sales surged, resale transactions declined for the second consecutive year (-5.9%), making luxury apartments in Monaco even more exclusive. Monte-Carlo continues to dominate, with more than one-third of all resale transactions occurring in this iconic district.

For real estate investors, buyers, and sellers, understanding the latest trends is crucial. In this in-depth Monaco real estate market overview, we analyze the key takeaways from the Observatoire de l’Immobilier 2024 report to provide insights into sales trends, resale values, and price evolution across Monaco’s prime districts.

1. The Monaco New Property Market in 2024

1.1 Record Number of New Developments

• 159 new apartments were delivered in 2024, the highest number since 1993.
• The Mareterra project significantly contributed to this figure, with 130 newly built apartments in Larvotto, a major driver of the year’s success.

1.2 Unprecedented Volume of Sales

• 101 transactions in new developments were recorded—an all-time high since the real estate observatory began in 2006.
• Luxury large apartments dominated, with four-room and five-room properties making up over 70% of total new sales.

1.3 Historic Sales Value: Over €3.7 Billion

• The total value of new sales reached €3.7 billion, more than tripling the previous record (€1.2 billion in 2022).
• Five-room apartments and villas alone accounted for over €2.5 billion in sales.

1.4 Price Trends in New Sales

• Half of all new properties sold in 2024 exceeded €22 million.
• The average sale price was €36.4 million, maintaining the ultra-luxury status of Monaco’s property market.
• 57 properties were sold for more than €20 million, including seven transactions surpassing €100 million.

Key takeaway: The new property market is booming, with demand for ultra-high-end residences remaining exceptionally strong, particularly in prime locations such as Larvotto, Monte-Carlo, and Fontvieille.

2. The Monaco Resale Property Market in 2024

2.1 Declining Number of Transactions

• The number of resale transactions fell by 5.9% for the second consecutive year, dropping to 365 transactions, the lowest since 2012.
• Despite this drop, the resale market remains highly competitive, with demand for prime properties exceeding supply.

2.2 Monte-Carlo Dominates Resale Market

• Monte-Carlo accounted for 36.2% of all resale transactions, solidifying its position as Monaco’s most sought-after district.
• La Rousse followed closely, with 24.9% of resales, despite a 26% decrease in transactions.

2.3 Stability in Resale Market Value

• The total value of resale transactions remained steady at €2.2 billion, indicating that lower transaction volume did not significantly impact market strength.
• In contrast to the decline in sales volume, the average resale price increased, reaching a record €6 million (+5.7%).

2.4 Growth in High-Value Resales

• The number of resales exceeding €10 million rose by 10.6%, highlighting the market’s resilience at the high-end segment.
• A record 19 resale properties exceeded €20 million, nearly doubling over the past decade.

Key takeaway: Monaco’s resale market is becoming increasingly exclusive, with fewer transactions but higher prices per square meter, particularly in Monte-Carlo, Larvotto, and Fontvieille.

3. Price Evolution: The €51,967/m² Milestone

3.1 Record-Breaking Price per Square Meter

• The average price per square meter in Monaco reached €51,967 in 2024, setting a new all-time high.
• This represents a 1.1% increase from 2023 and a 44.3% increase over the past decade.

3.2 Price Trends by Apartment Size

• Prices per square meter rose the most for studios (+5.7%) and three-room apartments (+7.6%), reflecting growing demand for smaller properties.
• Larger apartments (four-room and five-room) saw slight decreases in price per square meter but maintained their ultra-luxury status.

3.3 Monaco’s Most Expensive Neighborhoods

• Larvotto: €97,563/m² (highest in Monaco).
• Monte-Carlo: €53,911/m².
• Fontvieille: €53,908/m².
• La Condamine: €53,801/m².
• The Jardin Exotique district saw the highest price increase (+36.4%), reaching €49,847/m² due to new high-end developments.

Key takeaway: Prices in Monaco continue to rise across all segments, with Larvotto and Monte-Carlo remaining the most expensive neighborhoods.

4. New Sales vs. Resales: Key Differences

Conclusion: What This Means for Investors & Buyers in 2025

The Monaco real estate market remains one of the most stable and valuable investment options globally, with:

•  Strong demand for ultra-luxury new developments.
•  A tightening resale market with rising prices per square meter.
•  Monte-Carlo, Larvotto, and Fontvieille leading in price appreciation.

For potential buyers and investors, securing prime properties in Monaco remains a highly competitive endeavor. The scarcity of properties and continued demand from international investors will likely sustain price growth in 2025 and beyond.

At Monaco Properties, we specialize in helping clients find the most exclusive apartments and villas in the Principality. Whether you’re looking to buy, sell, or invest, our team of real estate experts is here to guide you through Monaco’s dynamic property market.

Contact us today to explore the best real estate opportunities in Monaco.

• Phone +377 97 97 33 97 
• Whatsapp: +33 6 40 62 65 76
• Email: info@mpmonaco.com