Looking to buy a new or renovated apartment in Monaco? Published annually by IMSEE, the Real-Estate Observatory is a reliable source of information on the average price of an apartment in Monaco. This report analyses transactions on the existing and new real estate markets. It provides an overview of Monaco’s exceptional real estate sector.
The average price per square metre of an apartment in Monaco
Boosted by a prosperous economy, the Monegasque real estate market is posting record figures. The value of transactions in the Principality has risen steadily over the last 10 years. The limited supply of housing located in Monaco combined with growing demand explains this rise in prices.
Buying a luxury apartment in Monaco is reserved for the very wealthy. The average price per square metre of resales recently reached its highest level ever. In 2024, it will be closer to 52,000 euros all areas combined.
Prices per square metre have risen particularly for apartments with fewer than four rooms. In terms of neighbourhoods, Monte Carlo, Larvotto and Fontvieille are the most expensive. They offer excellent rental profitability in Monaco.
Apartment price trends on the Monegasque market
In 2024, the property sales market totalled around one hundred transactions. Three-bedroom apartments sold the most. Sales of this type of home amounted to almost 982 million euros.
Of these transactions, the majority sold for more than 20 million euros. The figures for the existing real estate market are also staggering. According to IMSEE, the average resale price is 6 million euros for 2024.
Trends show that the Monegasque market is becoming increasingly exclusive. Resales under 5 million euros have fallen by more than 40% in 10 years. Despite this, they are still in the majority, with 239 properties sold out of a total of 365.
Price differences by area in Monaco
The Principality has unique appeal for investors from all over the world. When it comes to property investment, some areas of Monaco are more popular than others. Monte Carlo is the most dynamic district. In 2024, this area accounted for more than one in three resales. The La Rousse neighbourhood ranks second in terms of transactions on existing properties.
However, these two areas differ in terms of price. In fact, La Rousse is one of the least expensive neighbourhoods. Conversely, Monte Carlo is one of the neighbourhoods where the average price of an apartment in Monaco is the highest. In 2024, the price per square metre in this prestigious area reached almost 54,000 euros.
The average price of an apartment in Monaco by number of rooms
The price per square metre gives a general indication of the prices charged in the Principality. However, there is a significant disparity depending on the type of property. The most affordable properties are studios, with an average price of 1.9 million euros in 2024. This type of residence is very popular on the rental market.
This is followed by one- and two-bedroom apartments. They sold for an average rate of 3.6 million euros and 5.9 million euros respectively. The average price of a property for sale with at least five rooms is 18.8 million euros, an increase of more than 50% in 10 years.
Given the nature of Monaco’s luxury real estate market, you can rely on the local expertise of our Coletti Real Estate agency. Contact our team who will be happy to help with your sale, purchase or rental plans. You can also take advantage of our property management and administrative services for added peace of mind.
