Capital values for prime residential properties in Monaco have reached a record high and now stand at €51,967 per sqm, up 1% year on year, thanks to an increase in housing supply and continued global demand. Transaction volumes in the Principality have also soared. Total new-build sales volumes reached nearly €3.7 billion and total sales volumes for all properties broke through previous records to reach €5.8 billion in 2024.
“For decades, the prevailing story of the Monaco property market has been one of chronic under-supply, however the completion of several new developments, including the Mareterra land reclamation, has added much needed stock to the Principality,” comments Kelcie Sellers, associate director, Savills World Research.
Monaco has the highest residential property price per sq m in the world
The price range of new build sales has seen a dramatic shift in the previous two years. In 2022, sales of new properties with a value of greater than €10 million made up just 28% of the new development market. In 2023, that value grew to 61% and in 2024, it now sits at 75%.
While sales of studios and one-bedroom flats still account for nearly 50% of the total sales in Monaco, this share of the total has been slowly declining since 2020. Year-on-year, three-bedroom apartments have been taking an increasing share of the total sales – and, in 2024, make up nearly 15%. An interesting overview is also provided by the current offer of properties in Monaco available for sale here.
The French Riviera is a prestigious location, home to many world-famous personalities
Villa Roc Fleuri, the former residence of Sean Connery on the French Riviera, is currently for sale at €23,500,000. Located in Mont Boron, with stunning views across the Port of Nice and towards Cap d’Antibes, this Art Deco five-bedroom villa was home to the actor and his wife, Micheline Roquebrune, during the 1970s and 1980s. More information about Villa Roc Fleuri is available here.