Monaco is more than a place, it’s a global brand. Arguably the best known tax haven on the planet, it benefits from the power of economics 101 – more and more people want to live here but there’s no more space.
We already have 38,000 from 139 countries living in just two square kilometres of space. One in three of those people are multi-millionaires and there’s more than a sprinkling of billionaires.
Land is so scarce here that they’ve been reclaiming it from the sea since the 1880s. The latest such project is Portier Cove, a €2 billion project to create the first eco-friendly district in the Principality.
2018 was an exceptional year for Monaco real estate, with prices rising an average of 18% across all districts. That makes the average price per square metre €48,800, the most expensive market in the world.
One of the trends we’re seeing in the last two years is for more families to settle in Monaco, driving up demand for three and four bedroom apartments which carry a premium per square metre over the traditional one and two bed homes.
The average sale price is now €5.2 million and there were 523 transactions in 2018, the last full year for which we have data. The total value of all those transactions came to €2.7 billion, up 31% on the previous year.
In short, the overall Monaco real estate market is in prime health. Take a look at our district by district guides to see how prices have held up over not just the last year or two but for the past decade. When you see the capital gains that have been achieved, maybe getting on the Monaco property ladder will start to make sense for you, wherever you are in the world.
The coastline at Larvotto provides Monaco with some of its most sumptuous and iconic views. The easternmost ward of the principality, and bordering La Rousse-Saint Roman to the north and Monte Carlo to the north and west, Larvotto enjoys a broad, arcing coastline, coupled with the rugged majesty of the rising hills above.
Tucked away in the extreme north of Monaco and shielded from the Mediterranean coast by the ward of Larvotto to the east and south, you will find La Rousse-Saint Roman. Traditionally, this region has been part of the municipality of Monte Carlo, but following the merging of the Monagesque municipalities in 1917, a unified set of administration zones was created.
Named for the remarkable botanical gardens located in this region of Monaco, Jardin Exotique is one of the most unique areas of the principality. With a cliffside appointment, the neighbourhood provides unparalleled views of the Mediterranean Sea, as well as other areas of Monaco, such as the famous Monte Carlo.
Few wards of Monaco are as famous or as iconic as La Condamine. Monte Carlo to the north might edge it in terms of global renown, but the harbourside district of central Monaco is key to the history, aesthetic, and identity of the principality. La Condamine was one of the original municipalities of Monaco before the territory was restructured into wards.
Situated down here the southern tip of Monaco, Fontvieille is known for its charming harbour and the rugged cliffs and hillside that rise above it. This natural beauty provides a charming frame for the ward’s famous architecture and makes Fontvieille as attractive as it is bustling.