Gouvernement Princier de Monaco

Real estate

The aggregate value of all transactions (first-time sales and resales of existing properties) rose by 4.4% to almost three billion euros (€2.8 bn).

Sales

Real-estate sales
320,5 millions of euros
Source: Monaco Statistics
33 apartments
Source: Monaco Statistics

 

After a record year in 2018, the number of sales fell in 2019, but remained relatively high compared with the start of the decade. Unlike last year, the number of new apartments delivered was very low (with just nine apartments partially intended for sale). However, the market continues to be buoyed by more or less short-term development projects, such as 45 rue Grimaldi, L’Exotique and the Tour des Giroflées, and also by the sale of apartments delivered in 2018 (such as Le Stella).

Of the 33 apartments sold, 25 were sold off-plan.

 

Resales 

Real-estate resales
2.475,4 millions of euros
Source: Monaco Statistics
429 apartments
Source: Monaco Statistics

 

As in the new build real estate market, the number of resales fell (by 4.9%, i.e. 22 fewer than in 2018), but remained high. 

The number of four-room properties sold rose significantly (by 24.4%), whereas sales of three-room properties dipped sharply (by 28.1%).

A total of 15 villas (mostly bought for real estate development) were sold in 2019, the highest number seen since this observatory was created in 2010.

 

Mean price per square metre 

After a marked increase (+18.1%) in 2018, the price per square metre fell slightly (by 1.3%) but remains above €48,000. It has risen by almost 71% in ten years.

 

In 2019, the price per square metre of real estate resales in the Monte-Carlo, Fontvieille and La Condamine districts converged, with all three now above 50,000 euros.

The price per square metre also rose sharply (by 14.2%) in the Fontvieille, which is the only district in which the price has doubled in ten years.  

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