The Real Estate Market of Monaco is attractive for investors from all over the world and it is in the new-build sector that this market has developed the most, according to statistics from the Monegasque Institute of Statistics and Economic Studies (IMSEE).
Buyers are most interested in two-room apartments and five-room apartments and more.
The resale of apartments in the old building has nevertheless seen more than 500 apartment transactions for a total of more than 2 billion euros. The vast majority of these apartment resales were for products with 3 rooms or less.
The apartment rental market in Monaco suffers from a lack of properties to offer to people wishing to become Monegasque residents by this means. And still on these properties it is the small units that leave the fastest.
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Monte-Carlo with its Golden Square (Carré d'Or) is a safe bet. It is also the most expensive district in the Principality. The Mirabeau, the Metropole or the Monte-Carlo Star in high floor have sea view and offer high quality services. The most beautiful apartments are offered for sale between 80,000 and 100,000 euros per square meter.
The Larvotto, Saint Roman and La Rousse neighborhoods are undergoing continuous transformation and are home to the most numerous real estate projects: The recently delivered Odeon Tower, the extension to the sea, Testimio II or the Tour des Giroflées. The Larvotto is also the only district with access to the beach and it has two of the most luxurious and sought-after buildings of the moment : 21 Princess Grace and the Reserve.
On the Rock, patience is required because apartments for sale are very rare as well as large surface areas. Occasionally, a villa or a private mansion can be found. 70 to 80% of the properties are under law, which can slow down investors who wish to buy or rent to make a profit. This area is very popular because it offers the charm of medieval streets and is the most secure in the Principality.
Fontvieille is the family residential area, close to the big shops, the restaurants of the port, the heliport of Monaco and the train station. Buildings such as the Sea Side Plaza and the Terrasses du Port have helped to revive interest among buyers.
La Condamine is one of the most affordable neighborhoods in terms of price per square meter, apart from the large buildings on the seafront which attract many Anglo-Saxons and Formula 1 enthusiasts. The charm of the small, typical shopping streets attracts many local children.
The Moneghetti and the Exotic Garden have the most affordable real estate prices. The district benefits from numerous shops, the proximity of the hospital and the quick access to the highway. L'Oiseau Bleu, the Eden Tower, Les Ligures, the Bel Horizon and the Rotonde can offer great buying opportunities in the heights of Monaco.