Gouvernement Princier de Monaco

Real estate

 

The real estate market also remains affected by the health crisis and its economic consequences. In 2021, it counts 29 transactions and 160 million euros more than in 2020, but is down by 5% in volume and 17% in value compared to 2019.

Sales

Real-estate sales
235.6 millions of euros
Source: Monaco Statistics
23 apartments
Source: Monaco Statistics

 

With 23 transactions, the number of sales increases by 44% compared to 2020, without however returning to its 2019 level (-30%). Almost half of the flats sold in 2021 are three-room apartments. It is the first year since 2006 that so many flats of this size have been sold in the Principality.

Resales 

Real-estate resales
2.096,1 millions of euros
Source: Monaco Statistics
417 apartments
Source: Monaco Statistics

 

In 2021, the number of resales increases (+5.6%) and again exceeds the 400 transaction mark. With the exception of 4-room apartments (-9.8%), the number of resales of each type of flat has improved. Nearly 80% of transactions concern studios, 2-room and 3-room apartments. This distribution is fairly stable over the decade.

Mean price per square meter 

After a slight fall in 2020 (-1.1%), the price per square metre shows a clear increase in 2021 and exceeds the symbolic €50,000 mark for the first time, approaching €52,000. It is up by almost 75% in 10 years.

In some areas, the number of transactions is too low to calculate the price per square metre. This is the case for Monaco-Ville (no transactions with a known surface area in 2021).

On the other hand, with 6 resales for which the surface area is known, the price per square metre of Larvotto could be calculated. While it is usually the most expensive area per square metre, in 2021 it is overtaken by Monte Carlo, where flats were sold at almost €60,000 per square metre. Fontvielle is not far behind with €58,800 per square metre.

The lowest price is in Jardin Exotique (35,460 €/m²).

http://www.monacostatistics.mc/Economy-and-Finance/Real-estate