Monaco’s residential real estate market remains one of the most exclusive, scarce, and resilient in the world. Despite global economic headwinds and tight liquidity, the Principality’s unique combination of ultra-high demand and chronic supply constraints continues to support premium property prices — with further gains expected in 2026
Price Trends: How Much Have Prices Increased Since 2024?
Monaco’s housing market in 2024 closed with record high average prices, driven by the scarcity of land and strong global demand. The average price per square meter for second-hand units reached around €51,967, slightly above the 2023 level — reflecting modest but consistent growth.
Key comparison points:
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2024 average price per m²: ~€51,967
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Growth vs 2023: ~1.1% year-on-year
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Long-term trend: ~44% increase over the past decade, averaging ~4.2% annually
Certain districts — especially Larvotto — have seen significantly faster nominal growth, with prices approaching €97,563/m² in 2024, although limited transactions make short-term comparisons volatile.
Looking ahead to 2026, industry analysts forecast continued price appreciation of approximately 2–5%, depending on property type, location, and specification.
Why Monaco’s Market Continues to Appreciate
Several structural and economic factors underpin sustainable growth in Monaco’s real estate values:
1. Extreme Land Scarcity
Monaco is one of the smallest sovereign territories in the world (around 2 km²). With very little developable space and strong constraints on new construction, supply remains chronically limited — a key structural support for prices.
2. Global Demand from Ultra-High-Net-Worth Investors
Monaco’s zero income tax regime, political stability, world-class healthcare, and luxury lifestyle make it a magnet for HNWIs and UHNWIs seeking safe-haven assets — especially in uncertain economic climates.
3. Record-Setting New Developments
Projects like Mareterra and other land reclamation developments have reset the ultra-prime price ceiling, driving average values higher while highlighting scarcity.
4. Low Transaction Volumes & High Liquidity in Prime Segments
While total transaction counts remain low due to limited stock, prime assets continue to trade quickly, maintaining upward pricing pressure.
💡 Top Investment Opportunities in 2026
Monaco’s real estate market suits investors with a long-term horizon, especially those focused on capital preservation and ultra-prime asset appreciation.
Prime Resale Properties
Well-located resale apartments in Monte-Carlo often outperform due to immediate livability and limited supply.
Waterfront & New Developments
Newest luxury projects — including Mareterra and similar schemes — command premium pricing and scarcity value.
Renovation & Value-Add Projects
Older units with renovation potential can unlock significant upside where permitted.
Family-Sized Apartments
Increasing demand for three- and four-room apartments makes these units attractive for both bespoke living and consistent rental demand.
📊 Monaco Property Transactions: 2021–2024
2021
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No official total transaction number readily available from the most recent public summaries — detailed annual transaction figures from 2021 are typically published by IMSEE (Monaco’s statistical office) in their observatory reports, but the exact count isn’t widely published in summary releases.
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However, price-per-m² data indicates a record average price was reached in 2021, suggesting a strong sales environment.
2022–2023
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New home sales in 2023: Only 28 new apartments were sold — a low level compared with other years.
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Resale transactions declined in 2023 compared with 2022.
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Total recorded residential transactions in 2023: Around 416 (resales + new).
2024
🔹 Total transactions (sales + resales): ~466 properties — This includes all residential sales recorded in 2024, up about 12% from 2023.
• Resales: ~365 units (down ~5.9% from 2023).
• New properties sold: 101 units — a record number thanks to major new developments like Mareterra (vs. just 28 in 2023).
Summary Table (Estimate)
| Year | Total Transactions | New Builds Sold | Resales |
|---|---|---|---|
| 2021 | Not publicly summarized | — | — |
| 2022 | Not publicly summarized | — | — |
| 2023 | ~416 total | 28 new | ~388 resale (approx) |
| 2024 | ~466 total | 101 new | ~365 resale |
Note: Detailed transaction counts for 2021 and 2022 are not easily accessible in current summary releases, though IMSEE’s full historical observatories would have them.
Trends & Key Takeaways
✅ 2024 marked a clear rebound in Monaco’s real estate market, largely due to new inventory and successful launches — with 101 new properties sold, a record since the observatory began in 2006.
✅ Total transactions grew ~12% year-on-year in 2024 compared with 2023, showing sustained demand.
✅ Resales have softened slightly, while new developments dominate growth, reshaping the transaction landscape.
2025 Monaco Real Estate Sales & Prices
Sales Volume & Transactions
🏢 New development sales:
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In the first half of 2025, 57 new properties were sold, generating more than €2.5 billion in transaction value — the highest level ever recorded for a half-year period in Monaco.
🏠 Resale transactions:
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Over the first half of 2025, the resale market showed a strong rebound with 238 resale transactions, up sharply from the same period in 2024.
📈 Overall 2025 growth momentum:
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According to market commentary, the total number of property transactions (new + resale) increased significantly in 2025, with reports showing a +51.7% jump in sales volume in Q2 2025 compared with Q2 2024 — a remarkable figure not seen in the past decade.
Pricing Trends in 2025
📏 Average prices per square metre:
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In 2025, average residential prices remained at exceptionally high levels, around €52,000 per m² — a continuation of Monaco’s position as one of the most expensive markets globally.
🏙️ Ultra-prime pricing dynamics:
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In the ultra-prime segment (new developments), transaction values in 2025 were often significantly higher — with many individual new builds averaging €40 million+ per unit in the first nine months of the year.
💼 Resale pricing strength:
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Resale values also strengthened notably: resale sales exceeded €1.5 billion in value, with average prices climbing to over €6 million per property — reflecting strong demand for high-quality existing homes.
Key Market Dynamics in 2025
🔹 1. Recordsetting New Development Performance
New project deliveries — especially high-end schemes such as Mareterra and Bay House — boosted transaction volume and average values in the new-build segment.
🔹 2. Strong Resale Market Turnaround
After a slowdown in 2023 and 2024, resales recovered strongly in 2025, contributing significantly to total sales growth.
🔹 3. Ultra-Prime Demand Remains Robust
Both new and resale ultra-prime homes continued to attract global buyers undeterred by broader economic conditions, preserving capital values and record pricing.
Summary: 2025 in Numbers
| Indicator | 2025 Highlights |
|---|---|
| New property sales (1st half 2025) | 57 units |
| New property transaction value | > €2.5 billion |
| Resale transactions (1st half 2025) | 238 units |
| Resale transaction value H1 | > €1.5 billion |
| Average price per m² | ~ €52,000 |
| Sales growth vs 2024 Q2 | +51.7% |
(Figures based on IMSEE data and real estate market analyses.)
Implications for 2026 Investment Articles
Including 2025 data significantly strengthens any analysis you publish, because it shows:
✅ A strong rebound and new records after the post-pandemic slowdown.
✅ New developments driving market value, not just resale activity.
✅ Sustained ultra-prime pricing power, even at the highest ends of the market.
✅ Evidence of resale market recovery, making both new and existing properties attractive.
Best Districts in Monaco to Buy for Investment in 2026
1. Larvotto — Prime Beachfront and New Developments
Larvotto is widely regarded as one of Monaco’s hottest investment zones:
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It commands some of the highest prices per square metre in the Principality, thanks to its beachfront location and new luxury projects like Mareterra.
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Historical data shows attractive long-term returns (e.g., ~33.6% five-year returns) despite premium pricing — a sign of strong capital gains potential.
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Waterfront and sea-view assets continue to appeal to international buyers seeking trophy properties with global appeal.
Investment outlook: Best suited to capital appreciation in the ultra-prime segment, particularly for luxury apartments and large units with sea views.
2. Monte-Carlo / Carré d’Or — Prestige and Resale Power
The heart of Monaco’s luxury market:
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Monte-Carlo and its Carré d’Or micro-district are globally recognised for prestige, luxury boutiques, and landmark events — supporting strong resale demand.
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This area consistently attracts wealthy buyers who value location and exclusivity, helping maintain high price levels even during slower markets.
Investment outlook: Ideal for investors targeting stable long-term value and top-tier resale demand — particularly for iconic addresses and historic buildings with strong brand recognition.
3. Fontvieille — Growth Potential Below Core Prices
Fontvieille stands out for investors seeking relative value inside Monaco:
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Built on reclaimed land with green spaces, marinas, and modern residential buildings, it offers a more affordable entry point compared to Monte-Carlo or Larvotto.
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Demand is strong thanks to family-friendly amenities and ongoing infrastructure projects.
Investment outlook: Good balance of price growth potential and future demand, particularly as improvements and urban restructuring continue.
4. La Condamine — Everyday Appeal & Rental Demand
This centrally located neighbourhood combines:
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Proximity to Port Hercule and historic Monaco vibe, with shops, markets, and local culture — qualities that support solid rental interest.
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Prices here are competitive with other central districts, offering an opportunity for both capital growth and rental returns.
Investment outlook: Attractive for investors focused on rental income and consistent occupancy, especially in mid- to large-sized units.
5. Emerging Opportunities: Moneghetti & La Rousse
Notable areas for value-oriented strategies:
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Moneghetti and La Rousse often have slightly more accessible pricing compared to ultra-prime districts while still benefiting from Monaco’s overall demand.
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They can appeal to buyers focused on yields and diversification rather than pure trophy returns.
Investment outlook: Better for balanced return profiles combining rental yields with growth potential.
Investment Strategies That Work in Monaco
🏆 Focus on Waterfront & Sea-View Assets
Properties with direct or panoramic sea views typically outperform:
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They attract high-net-worth buyers and command premium prices.
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Offer appeal for both capital gains and luxury rental income.
Types of units: Large family apartments, penthouses, and high-end new builds.
📍 Prioritise New or Recently Completed Projects
New developments in Monaco continue to set price benchmarks:
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Large new build sales volumes and values have been growing, indicating strong investor interest in modern luxury stock.
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Buying early in new projects can provide enhanced appreciation as units complete and resale excitement builds.
Tip: Seek launches with unique amenities or sea views.
📊 Balance Yield vs Growth
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Capital appreciation: Best in Larvotto, Monte-Carlo, and Carré d’Or.
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Rental income: La Condamine, Fontaineville, and Moneghetti can offer strong rental demand relative to cost.
Final Takeaways for 2026 Buyers
✔ Monaco’s property market remains highly resilient, driven by scarce supply and global wealth demand.
✔ Waterfront, prestige, and new builds are long-term growth engines.
✔ Some districts offer more affordable entry points with strong upside.