Price Per Square Meter by District in Monaco: Key Insights as 2024 Ends
2024-11-25
Price Per Square Meter by District in Monaco: A Deep Dive into Real Estate Trends
As we approach the end of 2024, Monaco’s real estate market continues to thrive as a symbol of global luxury and exclusivity. Reflecting on 2023’s data allows us to understand the ongoing trends shaping the Principality’s high-demand property market.
The average price per square meter in Monaco’s districts reveals not only their unique appeal but also their potential for future growth. This article explores 2023’s district-specific insights to guide buyers and investors as they navigate the evolving market into 2025.
At Monaco Properties, we offer expert advice and exclusive listings to help you stay ahead in this dynamic market.
Average Prices Per Square Meter in 2023: A Snapshot of Monaco’s Top Districts
1. Larvotto: A Benchmark of Luxury
- 2023 Average Price: €65,857/m²
Larvotto’s unmatched seaside allure ensures its dominance as Monaco’s most exclusive district. As demand for beachfront properties remains high, Larvotto is poised to maintain its premium status into 2025.
2. Monte-Carlo: Ever-Resilient Prestige
- 2023 Average Price: €59,072/m²
The heart of Monaco’s luxury lifestyle, Monte-Carlo continues to draw elite buyers worldwide. Its appeal as a glamorous hub of culture and entertainment remains steadfast, securing its position as a market leader.
3. Fontvieille: Modern Marina Living
- 2023 Average Price: €53,542/m²
Fontvieille’s contemporary luxury and waterfront properties have made it a top choice for discerning buyers. This district’s unique character ensures its strong performance in the years ahead.
4. La Condamine: Dynamic Growth in 2023
- 2023 Average Price: €50,765/m²
Surpassing €50,000/m² in 2023, La Condamine’s rise signals its increasing popularity. Its proximity to Port Hercules and community-oriented atmosphere make it a district to watch in 2025.
5. Les Moneghetti: Quiet Elegance
- 2023 Average Price: €44,329/m²
With its tranquil ambiance and panoramic views, Les Moneghetti remains an attractive option for those seeking understated luxury.
6. Jardin Exotique: Value Meets Scenic Beauty
- 2023 Average Price: €41,614/m²
Jardin Exotique continues to offer value-driven opportunities for buyers while providing unparalleled views and access to Monaco’s greenery.
7. Monaco-Ville: Historical Grandeur
- 2023 Average Price: €38,569/m²
As Monaco’s historical core, Monaco-Ville’s timeless charm appeals to those seeking a blend of history and exclusivity.
Key Observations:
- Larvotto’s Premier Status: With an average price of €65,857 per square meter, Larvotto holds the highest property values in Monaco, fueled by its location, luxury properties, and seaside appeal. Larvotto has maintained record-high prices, making it a prestigious choice for high-net-worth individuals.
- Price Variation by District: The stark difference in prices, from Larvotto’s peak to the more moderately priced Jardin Exotique (€41,614), emphasizes the impact of location and local features on property values. Fontvieille and Monte-Carlo, following closely behind Larvotto, also cater to high-demand luxury clientele.
- Notable Growth in La Condamine and Les Moneghetti: In 2023, La Condamine and Les Moneghetti saw significant price increases, with La Condamine surpassing the €50,000 mark per square meter for the first time. This growth is indicative of the districts’ rising popularity among buyers seeking investment opportunities within Monaco's luxury market.
- Influence of Larger Properties: The presence of high-end, spacious apartments in districts like Larvotto and Fontvieille has consistently driven up average prices. With space at a premium, larger properties command an even higher price per square meter, reflecting the allure of Monaco’s limited and luxurious real estate market.
Supply Constraints and Demand: Monaco’s limited space, combined with attractive features like its safety, tax-friendly policies, and quality of life, continue to bolster property values. Demand remains high, pushing prices upward even in districts with less frequent transactions, such as Monaco-Ville.
What to Expect in 2025
The trends from 2023 set the stage for 2025, with Larvotto, Monte-Carlo, and Fontvieille likely maintaining their premium status due to sustained international demand. Meanwhile, rising districts like La Condamine and Les Moneghetti could see further appreciation as buyers diversify their focus within Monaco.
Ongoing urban development projects, such as the extension of Portier Cove (Anse du Portier), promise to introduce new luxury residences that will redefine Monaco’s real estate landscape. However, with limited land and increasing interest, the Principality’s property values are expected to remain among the highest globally.
As we close 2024, Monaco’s real estate market remains a testament to luxury and exclusivity. Whether you’re captivated by Larvotto’s seaside elegance or intrigued by La Condamine’s rising appeal, each district offers unique opportunities for investment and lifestyle.
At Monaco Properties, we combine local expertise with unparalleled market insights to help clients navigate this prestigious market confidently. Contact us today to explore our exclusive listings and discover the perfect property tailored to your aspirations.
Contact Us:
- Phone +377 97 97 33 97
- Whatsapp: +33 6 40 62 65 76
- Email: info@mpmonaco.com
Disclaimer: As a Monaco real estate agency, we partner with authorized local companies for relocation and other services beyond real estate transactions. For legal advice, we collaborate with local professionals. Information provided is for general purposes only.
