REAL ESTATE IN MONACO

Supported by historically low interest rates and historically high equity markets, the price per square meter in Monaco is worth an average of €47,600 with peaks of more than €100,000 in some residences.

Property prices in Monaco

The famous district of Monte-Carlo with its golden square around the Place du Casino and its luxury shops is with the Larvotto district, are the two districts where square meters of apartment are worth the most expensive in Monaco. It is worth around €53,000 in Monte-Carlo and €60,000 in Larvotto respectively.

Then come the port districts of La Condamine surrounding Port Hercule and the district of Fontvieille located between the port of Cap d'Ail and that of Fontvieille in which square meters of apartment are worth about € 52,000.

The neighborhoods located in heights on the borders with the French municipalities of Beausoleil, La Turbie and Roquebrune Cap Martin are the neighborhoods in which square meters of apartment are the cheapest. They are worth respectively about €35,400 at the Jardin Exotique, €45,500 at the Moneghetti and €42,500 in the Larousse district.

	2016	2017	2018	2019	2020
Larvotto	NA	40,414 €	60,078 €	NA	65,520 €
Fontvieille	45,119 €	43,637 €	45,819 €	52,342 €	51,872 €
Monte Carlo	46,967 €	47,114 €	56,343 €	53,042 €	51,617 €
Condamine	47,278 €	38,351 €	51,479 €	52,280 €	47,421 €
La Rousse	36,654 €	38,413 €	43,056 €	42,549 €	41,890 €
Moneghetti	36,091 €	28,455 €	36,420 €	45,455 €	38,253 €
Exotic Garden	28,636 €	34,505 €	39,811 €	35,383 €	37,500 €
Monaco City	NA	NA	NA	NA	NA
Average	41,401 €	41,335 €	48,799 €	48,151 €	47,619 €

If the disparities between neighborhoods are strong, they are also according to the size of the apartments. Indeed, square meters of apartments with large areas are worth more than those of smaller apartments. Thus the prices per square meter of a studio or a two-room apartment are worth about 42,000 € against about 49,000€ for 3 rooms, 4 rooms and 5 rooms. In addition, the price per square meter of some large apartments and especially penthouses and villas can be worth more than € 100,000 per square meter.

	2016	2017	2018	2019	2020
Studio	37,494€	38,325€	41,811€	43,022€	41,682€
2 rooms	36,349€	40,180€	43,872€	42,972€	45,534€
3 rooms	40,456€	44,782€	49,035€	48,041€	47,874€
4 rooms	44,755€	38,229€	43,390€	50,512€	50,755€
+4 rooms	48,478€	41,670€	56,850€	49,133€	49,733€
Average	41,401€	41,335€	48,799€	48,151€	47,619€

Estimating the value of your property

Estimating the value of real estate is a complex task because the relationships between property characteristics and prices are neither linear nor obvious.

In addition, buyers and sellers are often faced with untransparent and unprofessional valuations. In the case of the Monegasque real estate market, the average transaction price of a property is one of the highest in the world, so missing or erroneous information can lead to large economic losses. In this context, MONACO PROPERTIES offers adapted valuation methods that help buyers and sellers to gain transparency and quality in the property valuation process. In partnership with the University of Zurich, we have developed three evaluation methods that can be used depending on your goals:

the hedonic assessment method,
the method of estimating discounted cash flows,
The artificial neural network assessment method

The hedonic evaluation method - This method provides highly reliable price forecasts and offers the opportunity to evaluate unique property characteristics, increasing the transparency of the valuation process.

The Discounted Cash Flows valuation method - This method provides interesting results in the context of a portfolio analysis including financial assets. Thus, the risk and return profile of a property can be established and compared to the risk and return profile of other financial assets.

The artificial neural network evaluation method - This method, still under development, remains unreliable at present due to lack of data. Nevertheless, it is a promising method that should be able to better mimic the way our irrational brain evaluates the specifications of a good in a given context.

If you would like to receive a free appraisal of your property based on any of the above valuation methods, please fill out the form below and we will get back to you promptly.