IMSEE publishes its 2024 real estate observatory: new records and new challenges – Rosemont analyzes this landmark year’s key trends.
A booming sales market
The year 2024 marks a historic turning point for real estate sales in Monaco. With 101 transactions recorded, sales volume has reached its highest level since 2006.
Another key figure is the delivery of 159 new apartments—the highest number in over 30 years! This surge is largely driven by the Mareterra project, which alone contributed 130 new residences in the Larvotto district.
Prices continue to climb, with an average sale price of €36.4 million. One in two properties sold for over €22 million, reaffirming Monaco’s position as one of the world’s most exclusive real estate markets. The total transaction value has skyrocketed to €3.681 billion, tripling the previous record set in 2022.
A less dynamic resale market
For the second consecutive year, the resale market has slowed down, with 365 transactions recorded—a 5.9% decline, bringing the market to its lowest activity level since 2012.
However, this drop is offset by a continued rise in prices: the average resale price has reached a record €6 million, with a median price of €3.6 million. The price per square meter continues to climb, hitting a new peak at €51,967/m².
Some districts have seen spectacular price increases, particularly Larvotto, where the average price per square meter has surged to €97,563 (+48%), once again driven by the Mareterra project. Monte-Carlo remains the most active district, accounting for 36% of all transactions.
A market defined by exclusivity and resilience
With prices continuing to rise and a limited supply, Monaco’s real estate market remains one of the most exclusive and resilient in the world. While sales remain strong, the resale trend indicates increased selectivity among buyers. The future of the market will also depend on the delivery of new projects and the evolution of international demand.
One thing is certain: Monaco continues to shine as a prestigious real estate haven, where exclusivity and luxury set the rules of the game.
Our experts at Rosemont International can assist you in acquiring your property in the Principality. For more information, please contact us at consulting@rosemont.mc or request our brochure "Moving to Living in Monaco."