Now is the time to invest in Monaco real estate

By Benoit MartinCommercial Director, La Costa Properties Monaco

Jhe Monegasque real estate market recently crossed the threshold of the average price per property of 50,000 euros per square meter, sealing its position as the most expensive market in the world.

The Principality of Monaco has long been a favored destination for the world’s wealthiest, thanks to its soft tax regime, political and economic stability and sunny location in the heart of the Côte d’Azur. In an increasingly volatile world, the Principality of Monaco offers a safe haven for investors and those wishing to reside in one of the most luxurious destinations in the world.

La Costa Properties Monaco, a real estate agency located in the heart of the Principality, has been supporting the most demanding investors in the world in their real estate needs for 40 years. Benoit Martin is a leading Monegasque agent providing industry intelligence-based strategic advice to the world’s wealthiest. Here, Benoit shares some information about the most exclusive real estate market in the world.

Monegasque real estate investments

The last decade has seen a boom in the city-state market, with prices rising by 75%, from an average of 29,791 euros per square meter in 2012 to nearly 52,000 euros in 2021. Despite these record price, the market has never been stronger, with prices continuing to rise. This price hike is due to Monaco’s extremely limited land mass (the only way to create new development space is to reclaim land from the sea) and growing demand from the world’s wealthiest investors.

Investors not only benefit from higher prices, but also from high rental security, with rent avoidance being exceptionally rare.

European demand fuels the Monegasque real estate market

Demand continues to be driven mainly by European investors looking for low taxation and unrivaled luxury amenities. Indeed, the Monegasque offer is unique, offering investment security and an enviable location. Residents enjoy access to award-winning restaurants, lavish resorts, designer boutiques and some of the world’s most prestigious events, such as the iconic Monaco Grand Prix and the Monaco Yacht Show.

Crime is virtually non-existent in the city-state, and its prime location along the Mediterranean Sea puts the rest of Europe and international destinations within easy reach, thanks to Nice Côte d’Azur Airport. Residents of Monaco can soak up the sun at some of the world’s most glamorous beach clubs or head to the Alps and enjoy a day of skiing in unspoilt terrain.

Other destinations offer similar tax advantages and levels of luxury, but the economic security is not the same as that offered by a Monaco property investment.

The space race is fading

While COVID has seen a slight market downturn in Monaco, the most significant impact has been a space race.

During the pandemic, Monegasque property investors have sought larger properties in the Principality and have increasingly explored the surrounding areas, where people can still enjoy the luxurious lifestyle of the Riviera but benefit from a larger property for the same price. This drove up prices in areas immediately outside the Principality’s borders. However, with the return to offices, there has been a return to pre-COVID property types and a desire to stay in Monaco.

Monegasque real estate styles for everyone

Monaco offers a selection of property styles for all investors, from ultra-modern apartments with stunning modern designs to rare Belle Epoque villas with exquisite architectural styles. La Costa Properties Monaco works on all styles of properties, including providing access to some of Monaco’s most sought-after new developments. The real estate styles sought by Monegasque real estate investors remain varied; however, luxury new builds that offer the latest amenities remain popular.

Developments such as the extraordinary Mareterra, the One Monte-Carlo around the Carré d’Or and the luxurious L’Exotique in the Exotic Garden are particularly sought after for their exquisite designs and luxury amenities, including dedicated 24-hour concierge services. /24 and 7/7 and access to sumptuous well-being and fitness areas.

Monte Carlo stays on top

The iconic Monte Carlo, especially around the famous Carré d’Or, remains the most sought-after destination for Monegasque property investors looking for one of the best exclusive properties in the world. This elite enclave usually demands more than 65,000 euros per square meter. The district offers a central location in the heart of Monaco, with residents enjoying easy access to the Principality’s most opulent offerings.

Another area popular with investors is Larvotto, home to Monaco’s only beach. The Larvotto district has recently benefited from an elegant facelift with the redevelopment of Larvotto beach, now featuring a wide seafront promenade flanked by gourmet restaurants and shops.

Also coveted as a Monegasque real estate investment, the La Condamine district, one of the oldest districts of the Principality, is home to the emblematic Port Hercule, the favorite port of the most luxurious superyachts in the world. This stylish neighborhood features a desirable mix of stylish Belle Epoque and modern buildings, like Le Stella, that offer limitless levels of grandeur. La Condamine is also known for its Marché Paysan, which dates back to 1880, offering a slice of traditional Monegasque life.

Investment opportunities in Monaco

La Costa Properties Monaco offers an exquisite selection of properties for sale and for rent, with our agents exploiting their access to the city-state’s best new developments and the most sought-after residential buildings.

A luxury apartment has just been put up for sale at the Panorama, a popular residence in the heart of La Condamine, which will appeal to Grand Prix enthusiasts. Offered for sale exclusively at La Costa Properties Monaco for 10.5 million euros, the property should not remain on the market for long. This spacious and exquisite apartment features a large wrap-around terrace with breathtaking views of Port Hercule, the Mediterranean Sea, the legendary Rock of Monaco and the Grand Prix circuit, including the Sainte-Dévote curve and the rising slope of the Avenue d’Ostende. Located on a high floor, the apartment benefits from sufficient height to enjoy a panoramic view while offering the feeling of being in the middle of all the action of the Grand Prix. The apartment’s many amenities include a spacious living room, a well-equipped kitchen, two bedrooms with fitted wardrobes and two bathrooms. It also offers two parking spaces and a cellar, offering plenty of storage, a rarity in Monaco.

La Costa Properties Monaco is delighted to also offer several luxury properties for rent, including a magnificent duplex in Monaco Ville. The duplex has been completely renovated with quality materials and is located on the top two floors of an elegant bourgeois villa with private elevator. It includes a very large living and dining room with high ceilings and a terrace with beautiful panoramic views of the Mediterranean Sea. The duplex also has three bedrooms, three bathrooms, a dressing room, an office and a beautiful fitted kitchen.

Another superb property offered for rent by La Costa Properties Monaco is a spacious duplex in Parc Saint Roman. The apartment has been completely renovated and is located on the top two floors. This opulent residence offers superb amenities including a swimming pool, sauna, fitness area and 24/7 security. The duplex benefits from large terraces and superb panoramic views. Other highlights include a large living-dining room, a fully equipped kitchen, two comfortable bedrooms, including a master suite with a large dressing room, two bathrooms and a guest toilet.

As Monaco continues to provide a safe haven in a volatile world, there is no doubt that securing a Monegasque investment property remains high on the wish lists of discerning investors.