Real Estate Market in Monaco – 2024 Year-End Review

The real estate market in Monaco remains one of the most exclusive and stable in the world. In 2024, it continued to experience high demand despite global economic challenges. The principality’s geographic limitations, stable economy, and attractive tax policies make it one of the most desirable locations for investors and wealthy buyers.
1. General Market Trends
Monaco is traditionally associated with luxury, and its real estate market fully aligns with this reputation. In 2024, the following key trends were observed:
• Price Growth. The average price per square meter continued to rise, mainly due to limited supply and steady demand.
• Real Estate Shortage. New properties are rarely developed, and existing apartments and houses sell quickly.
• Popularity Among International Investors. Wealthy buyers from Europe, Asia, North America, and the Middle East are eager to acquire property in Monaco.
• Development of Green Technologies. New residential projects focus on sustainability and energy efficiency.
2. Prices and Market Dynamics
According to analysts, the average price per square meter in 2024 ranged between €50,000–€55,000, making Monaco the most expensive real estate market in the world. In elite areas such as Monte Carlo, prices reached €70,000 per square meter. Key trends include:
• Rising Prices for Premium Apartments. The cost of luxury real estate increased by 5–7% over the year.
• Limited Supply of New Developments. Construction of new properties in the principality requires time and significant investment, impacting prices.
• High Liquidity. Most elite properties sell quickly.
3. Investment Appeal
Monaco remains one of the world’s most secure real estate markets. The main factors attracting investors include:
• No Income Tax. The principality offers favorable tax conditions for residents.
• Capital Protection. Investors see Monaco real estate as a safe haven amid global economic uncertainty.
• Stable Market. Property prices are largely resistant to sharp fluctuations.
4. Main Districts of Monaco
The Monaco real estate market is divided into several prestigious districts, each with unique features:
• Monte Carlo – The most famous district, known for its luxurious apartments and views of the casino and sea.
• La Condamine – A business district with developed infrastructure and prestigious residential complexes.
• Fontvieille – A relatively new district with modern buildings and a beautiful waterfront.
• Jardin Exotique – An elite residential area offering privacy and breathtaking panoramic views.
5. Demand and Development Prospects
The demand for real estate in Monaco remains consistently high due to several factors:
• Prestige and Safety. Monaco is considered one of the safest places in the world.
• Limited Supply. Due to the principality’s small size, new developments are rare.
• Tax Benefits. The absence of income tax makes property purchases highly attractive to wealthy investors.
6. Outlook for 2025
Experts predict that in 2025, Monaco’s real estate market will continue to grow. Expected trends include:
• Further Price Increases. High demand and limited supply will drive property values even higher.
• Rising Interest in Eco-Friendly Projects. Developers are incorporating new technologies to enhance energy efficiency in buildings.
• Attracting New Investors. More high-net-worth individuals are considering Monaco as a prime location for long-term investments.
Conclusion
Monaco’s real estate market remains attractive to investors and buyers due to its stability, prestige, and favorable tax conditions. In 2024, demand continued to rise, and property prices reached new records. With limited supply and global economic uncertainties, the principality remains one of the most stable and prestigious real estate markets in the world.