Monaco real estate market 2019, a record year

2019 Monaco, the scene of a new historic record for the cumulative amount of transactions.

30/01/2020

Thanks to its quality of life, the dynamism of its economy and the stability of its policy, Monaco stands out as a little paradise of 2.02 km2. A micro-state acclaimed by its 38,400 inhabitants, from 139 different countries.

In 2019, it was the scene of a new historic record for the cumulative amount of transactions, increasing by 4.4% compared to 2018 and reaching almost three billion euros (2.8 billion). With an average price of €48,150/m2 and which can easily exceed €100,000/m2 for premium addresses, the Principality continues to be the most expensive address in the world, just ahead of Hong-Kong, relegating Paris and London places of honour in a ranking that it largely dominated.

At the same time, the demand for ever larger and more luxurious apartments just keeps increasing, as attest by the number of 4 rooms sold rising by 24.4% or even 150% for private villas.

This trend has repercussions on luxury residential rental with the delivery of the prestigious residences such as 26 Carré d ́Or and Monte-Carlo One; where the average rental value is around €1,200/m2. Once again, Monaco is ahead of New York, Hong-Kong, Tokyo and Moscow, Paris only arriving in 7th position.

Flourishing over the past 10 years, with average prices more than doubling, the luxury real estate market should, according to specialists, continue to ride the wave of success.

Its knowledge of the real estate market, its long experience in the field and its international reputation allow Rosengart Luxury Real Estate to establish itself as a benchmark in this field.

Sources: IMSEE, Observatoire de l'Immobilier

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