Monaco real estate prices continue to rise, offering a sound return on investment, that’s according to the latest Real Estate Observatory Report, published yearly by the Monegasque Institute of Statistics and Economic Studies.
The report, released in January 2022, takes an in-depth look at the Principality of Monaco’s fast-moving and in-demand real estate market over the past year, including Monaco real estate prices and trends.
Key findings of the report show that the average Monaco property price per square metre grew by 9%, and now exceeds €50,000 for the first time, approaching a record-breaking €52,000. Investors that bought Monaco real estate a decade ago now benefit from an increase of almost 75% on the value of their property.
Here we explore some of the key Monaco real estate trends from the report.
Monaco real estate trends: Number of properties sold passes 400
According to the report, the number of property resales passed the 400 mark, with 2021 recording a total of 417 properties sold, compared to 395 in 2020, and 429 in 2019. The highest number of property resales was recorded in 2016 when a record 520 Monaco properties changed hands. There were an additional 23 new properties sold in 2021 – giving a total of 440 properties sold in 2021.
Monaco real estate trends: 2-room apartments are the most popular
According to the report, 2-room apartments proved the most popular with 129 sold (up 8.4% compared to 2020), followed closely by studio apartments with 114 (up 1.8% compared to 2020). The biggest increase – 41.7% compared to 2020 – was 5-plus room apartments, with a total of 34 sold. In total, 80% of all transactions concerned studios, 2-room, and 3-room apartments.
Monaco real estate trends: 5-10 million Euros most popular price
Demonstrating Monaco’s position as one of the most expensive real estate markets globally, the number of property transactions for less than €5 million continues to decline. According to the latest figures published in the Real Estate Observatory Report, nearly 50% of properties in 2021 were sold for a price between €5-10 million showing the strength of the market and Monaco’s desirable luxury lifestyle.
Monaco real estate trends: Monte-Carlo and La Rousse most popular districts
According to the report, Monte-Carlo and La Rousse account for more than half of the property transactions in 2021. In total, 135 properties were sold in Monte-Carlo – the same number as in 2020, and 100 in La Rousse, down slightly from 104 in 2020. The districts with the fewest properties sold were Larvotto, with just 6, Monaco-Ville with 9, and Les Moneghetti with 35. La Condamine saw the biggest growth in sales compared with 2020, up 71.4%, with a total of 48 properties sold.
After a slight fall in 2020 due to the Covid pandemic, Monaco real estate prices have for the first time exceeded the €50,000 mark – up 9% compared to the average price per square metre in 2020.
Monaco real estate trends: Price per square metre nearly €52,000
The largest growth was seen in 5-plus room apartments, up 21.7% to an average price per square metre of €60,546, perhaps reflecting the race for space following global government-enforced lockdowns. At the lower end of the Monaco real estate market, the average price for a studio hovered at around €44,567 per square metre, up 6.9% compared to 2020.
Monaco real estate trends: Monte-Carlo’s most expensive district
As one of Monaco’s most exclusive districts, Monte-Carlo was the most expensive district in 2021, with the average Monaco price per square metre at €59,991, up 16.1% compared to 2020. Just a few hundred Euros behind – at €59,699 – is the district of Larvotto. However, this marked an 8.9% downturn compared to 2021, when Larvotto recorded a record high price per square metre of €65,520.
If you want more in-depth insights into Monaco’s real estate prices or are looking to buy a property in Monaco, contact the team at Ageprim. As the leading name in luxury Monaco property, our team boasts decades of expertise and is trusted by the world’s most discerning property investors. Alternatively, browse our properties for sale in Monaco.