Real estate

Sales

The year 2017 saw the highest recorded number of sales (50) since 2006.  However, 84.0% of transactions involved studios or one-bedroom apartments.

Sales fell from EUR 453.5 million in 2016 to EUR 228.9 million in 2017, a decrease of 49.5%.  After three years marked by major transactions involving properties of four or more bedrooms, in 2017, 62.7 per cent of the total transactions involved properties of one bedroom or fewer.  The marketing of the Stella, a building currently under construction, comprised only of one-bedroom apartments, explains this phenomenon.

Resales

The number of transactions decreased sharply (-21.9%) and returned to the levels of 2013.  All types of apartments are affected by this decline, excluding detached houses (properties that are most often destined to be demolished and rebuilt).  The number of transactions involving studio apartments was virtually stable (-0.8%).  It represents 29.8% of resales.  Transactions involving three-bedroom properties decreased the most (-41.3%).

The reduction in the number of resales logically led to a reduction in the number of transactions.

The sharp increase in the number of transactions involving detached houses (most often acquired for real estate development) limited the downturn in the market.

Resales repartition by districts

Only the Larvotto and Monaco-Ville districts recorded more sales than in 2016.

Nearly 60% of all the transactions took place in Monte-Carlo and La Rousse.