When people think of Monaco, Monte Carlo is often what is at the forefront of their mind. The famous casino, the chic waterfront, the thrill of the annual Grand Prix — all of these symbols of Monaco are found in, or mostly in, the district of Monte Carlo.
Monte Carlo Market Update 2020
This area of Monaco experienced the highest number of transactions of any district in 2018, with 157 resales comprehensively bettering the 2017 total. Once we have the full figures for 2019 we will also see the impact of two new-build projects that were released last year, One Monte Carlo and 26 Caree D’Or.
The average sale price in Monte Carlo rose from €5,453,000 to €6,052,000 while the price per square metre also rose significantly from €47,000 to €56,300.
Living in Monte Carlo
These perceptions are not surprising when you consider how important Monte Carlo is to the broader principality. Almost half of Monaco’s population call Monte Carlo home, bringing the population of Monte Carlo quarter to 15,200. Monte Carlo ward, however, is somewhat smaller and is home to around 3500 residents. It is this smaller ward that represents the official administrative area of Monte Carlo.
In terms of attractions, Monte Carlo is well equipped. The classic architecture of the 1864 Hotel de Paris provides one of the most iconic backdrops to be found across Europe, while the Salle Garnier opera house, designed in the 1870s by renowned architect Charles Garnier, is one of the jewels of the Mediterranean’s cultural crown.
Prime Real Estate in Monte Carlo
Monte Carlo is home to many of the world’s most celebrated athletes, movie stars, and business people, so it is no surprise that it is also a luxury real estate hot spot. Many of the district’s finest real estate prospects are found in the city’s famous Golden Square area.
La Petite Afrique
La Petite Afrique, located on Avenue de la Madone, is one of the more recent additions to the Monte Carlo skyline and was completed in 2016, after three years of development.
At 37 storeys, Le Millefiori is certainly one of the most imposing buildings in Monte Carlo. As you might imagine, its real estate prospects command some serious views.
Park Palace is among the most sought after property locations in the principality and is situated in Golden Square, close to the city’s main attractions.
George V is found in the centre of Monte Carlo, beside Le Metropole shopping complex, as well as the Grimaldi Forum, the Japanese Garden and the casino.
Prince de Galles
Prince de Galles on Golden Square is one of the most well appointed real estate prospects in an already luxurious district and enjoys close proximity with Casino Square, among other attractions.
Named for Monte Carlo’s eponymous mountain, Le Montaigne has a variety of fine shopping and dining options within a short walking distance. Le Montaigne is also found on Golden Square.