Appraising the value of your property in Monaco

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

Property prices in Monaco


The famous Monte-Carlo area with its golden square around the Casino square and its luxury boutiques is, together with the Larvotto area, the two areas where the square meters of flat are worth the most in Monaco. It is worth about 53,000€ in Monte Carlo and 60,000€ in Larvotto respectively. 
Next come the port districts of La Condamine surrounding Port Hercule and the Fontvieille district located between the ports of Cap d'Ail and Fontvieille, where the square metres of flat are worth around 52,000€. 


The districts located in the heights on the borders with the French communes of Beausoleil, La Turbie and Roquebrune Cap Martin are the districts in which the square meters of flat are worth the least.  They are worth around €35,400 in Jardin Exotique, €45,500 in Moneghetti and €42,500 in Larousse. 

 

  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
Jardin Exotique  €      28,636  €      34,505  €      39,811  €      35,383  €      37,500
Monaco Ville  NA   NA   NA   NA   NA 
Average  €      41,401  €      41,335  €      48,799  €      48,151  €      47,619


If the disparities between districts are strong, they are also according to the size of the flats. Indeed, the square metres of flats with large surfaces are worth more than those of smaller flats. For example, the price per square metre of a studio or two-room apartment is around €42,000, compared to around €49,000 for three-, four- and five-room apartments. In addition, the price per square metre of some large flats, particularly penthouses and villas, can be worth over €100,000 per square metre. 

 

  2016 2017 2018 2019 2020
Studio  €      37,494  €      38,325  €      41,811  €      43,022  €      41,682
1 bedroom  €      36,349  €      40,180  €      43,872  €      42,972  €      45,534
2 bedroom  €      40,456  €      44,782  €      49,035  €      48,041  €      47,874
3 bedroom  €      44,755  €      38,229  €      43,390  €      50,512  €      50,755
+3 bedroom  €      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 

The appraising of real estate properties is a complex task as the relationships between the characteristics of properties and their prices are neither linear nor evident.

Moreover, buyers and sellers are often confronted with untransparent appraisals that lack professionalism. In the case of the real estate market of Monaco, the average transaction price of a property is one of the highest in the world, missing or wrong information can consequently lead to great economic losses. In that context, MONACO PROPERTIES offers adaptative appraisal methods that help buyers and sellers at gaining transparency and quality in the valuation process of properties. In partnership with the University of Zürich we have developed three valuations methods that can be used depending on your goals:

  • the Hedonic valuation method,
  • the Discounted Cash Flows valuation method,
  • the Artificial Neural Network valuation method

The Hedonic valuation method - This method provides highly reliable price predictions and offers the possibility to valuate single characteristics of properties, increasing thus the transparency of the valuation process.

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

The Artificial Neural Network valuation method – This method which is still under development remains unreliable at the moment due to the lack for data. Nonetheless, it is a promising method which should be able to better mimic the way our irrational brains value the single characteristics of a property in a given context.    

If you wish to receive your free property appraisal based on one of the above valuation methods, please fill in the form below and we will quickly get back to you.

You can also contact us by phone +377 97 97 33 97 or email at info@mpmonaco.com

 

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