Despite economic crisis and geopolitical situations that shake the world, Monaco stands out untouchable. The real estate market proved again and again in 2022 the deep confidence of private and investors into this tangible asset.
According to the much anticipated "Real Estate Observatory 2022" report, contucted by the Monaco Institute of Statistics IMSEE, Monaco real estate market breaks a new record in terms of volume, increasing by 18.2% compared to 2021 with 520 transactions. In value, it reaches the unprecedented amount of €3.54 billion after an outstanding increase of 51.8%.
With a steady demand for properties and especially for larger units that are lacking, new constructions are blossoming all over the Principality. The new housing market breaks an unprecedent record with 88 transactions, compared to 23 in 2021, exceeding for the very first time the billion euros of sales (€1,190 million euros), four times more than the previous year.
The resale market displays as well an increase, not as outrageous as new builds, but still +3.6% with 432 transactions for €2.32 billion (+12.1%).
The average price per square metre decreased slightly (-1.8%) while remaining above the symbolic €50,000, without forgetting it has increased by more than 60% in a decade.
The Principality remains a highly-prized address, renowned for its prestige properties, security and unique lifestyle.
All indicators are still flashing green for go. This is always the time to invest in real estate in Monaco, a safe haven more than ever before.
Sources: IMSEE, Observatoire de l'Immobilier