| Please note: Although the acquisition of a property in the Principality of Monaco may seem simple at first glance, you may nevertheless be confronted with planning, registration, tax and administrative issues. Our experts will advise you on the best ownership structure and the best way to manage the administration of the apartment in the future. For more information, find out more about our real estate services: https://rosemont-int.com/en/article/real-estate-ownership-management/structuring-property-ownership |
Although there is a general increase in the price per square metre in Monaco, there has been a drop in sales of new properties or resales of properties in the Principality, offset by the increase in the cumulative amount of transactions by 4.4% to reach 2.8 billion euros (Increase of average price: +88% for sales and +12% for resales).
The sales (of new properties) and resales market follows a different evolution:
Price per square metre in the Principality of Monaco in 2019
The price per square metre in the Principality of Monaco continues to rise, although there are inverse fluctuations depending on the district.
Monte Carlo remains the most expensive district despite a drop of 5.9% since 2018, with a price per square metre of 53,042€.
The property sales market in the Principality of Monaco in 2019 (new properties)
A pronounced decline in the number of property sales (-54%) can be observed over the period 2018-19, which is explained by the low number of apartment deliveries in contrast to 2018.
However, this drop in the number of properties sold is offset by higher prices: 1/3 of sales in 2019 concerned properties worth more than 5 million euros, compared with less than 20% in 2018. The median price is also increasing: one out of every two sales is above 3.4 million euros, compared to 3.1 in 2018.
The property resale market in the Principality of Monaco in 2019
Once again a more moderate fall in the number of resales of 4.9% compared to 2018 is noted, offset by the increase in the amount of resales of 6.4% explained by the large number of villas sold (for real estate promotions in most cases, but this is the highest number recorded since 2010).
1 out of 7 transactions in 2019 was over 10 million euros, and there has been an almost constant decline in the share of transactions of less than 5 million since 2010.
The price per square metre in the Principality of Monaco continues to rise, although there are inverse fluctuations depending on the district.
Monte Carlo remains the most expensive district despite a drop of 5.9% since 2018, with a price per square metre of 53,042€.
The property sales market in the Principality of Monaco in 2019 (new properties)
A pronounced decline in the number of property sales (-54%) can be observed over the period 2018-19, which is explained by the low number of apartment deliveries in contrast to 2018.
However, this drop in the number of properties sold is offset by higher prices: 1/3 of sales in 2019 concerned properties worth more than 5 million euros, compared with less than 20% in 2018. The median price is also increasing: one out of every two sales is above 3.4 million euros, compared to 3.1 in 2018.
The property resale market in the Principality of Monaco in 2019
Once again a more moderate fall in the number of resales of 4.9% compared to 2018 is noted, offset by the increase in the amount of resales of 6.4% explained by the large number of villas sold (for real estate promotions in most cases, but this is the highest number recorded since 2010).
1 out of 7 transactions in 2019 was over 10 million euros, and there has been an almost constant decline in the share of transactions of less than 5 million since 2010.
Rosemont provides property ownership and management services in Monaco and internationally.
If you are interested in buying a property in Monaco, our experts at Rosemont can advise you on the best ownership structure and the best way to manage the administration of the property in the future. To find out more, you can watch our Monaco Property video or contact Romain Auriault: r.auriault@rosemont.mc
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