Property prices climb to record heights in Monaco

property price monaco

Buying a home in Monaco has never been more expensive. The average price per square metre now stands just shy of €52,000, an increase of nearly 45% over the last decade.

According to the latest figures released by IMSEE, Monaco’s dedicated statistical agency, the average price per square metre for property sold in 2024 was an incredible €51,967, surpassing the previous all-time record set in 2021.

The most astounding figures were recorded in Larvotto, where IMSEE reports that the average price per square metre could be as high as €97,563, an almost unbelievable 48% year-on-year growth in prices.

As previously reported by Monaco Life, sales in Larvotto, which is experiencing a boom following the completion and inauguration of the new Mareterra eco-district at the end of 2024, were also among the most impressive of the year.

See more: Monaco’s real estate market soars to €5.9 billion amid surge in new property sales

Outside of Larvotto, Monte-Carlo is the next most expensive part of the Principality when it comes to buying a new and existing home. Here, the average price per square metre reached €53,911 in 2024. Fontvieille is just €3 behind at €53,908, while properties in La Condamine rank third at €53,801 per square metre.

The Jardin Exotique also stands out, largely for its impressive 36.4% growth in price per square metre. IMSEE points to three exceptional property sales in the neighbourhood in 2024 as the reason for this sudden spike in value.

Read related:

Europe’s hottest property markets to watch in 2025

 

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Photo credit: Cassandra Tanti

Award-winning writer Cónal Creedon to present ‘A Sense of Place’ at Princess Grace Irish Library

The award-winning Irish novelist Cónal Creedon is set to speak at the Princess Grace Irish Library later this month on the themes of identity and place in his work.

As part of its literary and cultural programme, the Princess Grace Irish Library will host a lecture by Cónal Creedon titled A Sense of Place on 27th February.

The Cork-born writer, known for his novels, short stories, plays, and documentary work, will discuss themes of identity and connection to place, drawing on his extensive body of work. The event will include a question-and-answer session followed by a drinks reception.

Creedon, the recipient of The Ireland Funds Monaco spring bursary, has received international recognition for his contributions to literature and the arts. In 2024, he was awarded the Leonardo da Vinci Award by the World Cultural Council in Switzerland and the Books, Arts and Music Award for Literature by the Irish American Heritage Centre in Chicago.

He was also invited to present the Beatty Lecture at McGill University in Canada. His work frequently focuses on the streets of downtown Cork, where his family has lived and traded for generations, using this setting to explore universal aspects of the human experience.

His writing has been described as both poetic and musical, with The New York Times stating, “Mr. Creedon’s words are enough to create a world that is at once comic and dramatic, poetic and musical.”

Tickets for A Sense of Place can be purchased here.

 

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Photo via Princess Grace Irish Library

AI-driven data centre boom could strain Europe’s energy supply and increase emissions

A rapid increase in artificial intelligence-driven data centres could place significant pressure on Europe’s energy supplies and lead to an eightfold rise in emissions by 2030, according to a new report released ahead of France’s Artificial Intelligence (AI) Action Summit.

The non-profit organisation Beyond Fossil Fuels estimates that electricity demands could surge by up to 160% by the end of the decade, reaching 287 terawatt-hours (TWh) annually—more than Spain’s total electricity consumption in 2022. If fossil fuels are used to meet these demands, annual emissions from EU data centres could jump from five million tons of carbon dioxide-equivalent emissions in 2025 to approximately 39 million tons in 2030, exceeding the combined emissions of Lithuania and Estonia in 2022.

The study, which used public data from the International Energy Agency (IEA) and consulting firm McKinsey, modelled four scenarios based on varying levels of data centre expansion and the use of renewable versus fossil fuel energy sources. It found that more than half of the anticipated electricity demand would come from newly built facilities. If these data centres were powered entirely by renewable energy, the sector would not contribute additional greenhouse gas emissions by 2030. However, the report warns that if growth depends on fossil gas, it could “fuel the climate crisis”.

Data centres currently account for around 3% of Europe’s electricity consumption, though usage varies significantly by country. A 2024 EU report found that data centres represent up to 21% of Ireland’s energy use and 5.4% of the Netherlands’, far above the EU-wide average.

Tech companies are under increasing pressure to curb their environmental impact. The World Economic Forum (WEF) suggests that firms can reduce emissions by switching to renewable energy, repurposing waste heat, and ensuring water-intensive cooling systems are used only where supplies are sustainable.

Google’s parent company, Alphabet, aims to run its data centres on carbon-free energy by 2030, while Microsoft is exploring alternative materials, such as hybrid fire-resistant timber, to cut emissions. Meanwhile, an EU directive updated last year requires data centre operators to disclose emissions data biannually. However, Beyond Fossil Fuels argues that far greater transparency is needed to track energy consumption and ensure commitments to sustainability are met.

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.

Photo credit: Marcin Jozwiak, Unsplash

Monaco Run 2025: record numbers and world-class performances

Monaco Run 2025 saw a record-breaking 3,800 participants take to the streets for its 15th edition, with elite performances, new initiatives, and a strong community spirit defining the weekend.

Over the weekend of 8th and 9th February, the Monaco Run Gramaglia returned for its 15th edition, attracting a record 3,800 participants across six races. Monaco Life attended on Sunday morning for the 5km event, one of the most anticipated races of the weekend, known for its fast course and history of world-class performances.

This year’s edition featured a strong competitive field, including Olympic triathlon champion Cassandre Beaugrand, who raced alongside her AS Monaco Athlétisme teammates. She was up against Ethiopian runner Likina Amebaw, the defending champion who set the women’s course record at 14’35 in 2024. 

The 5km race has consistently delivered notable performances, having previously hosted four world records, including Joshua Cheptegei’s 12’51 in 2020 and Beatrice Chepkoech’s 14’43 in 2021. European and national records have also been set on this course, reinforcing its reputation as a key race on the international running calendar.

In this edition, the standout performance of the day came from Dutch athlete Diane Van Es, who broke the European 5km record with a time of 14’39, making her the fastest European woman ever over the distance. Cassandre Beaugrand also made history, finishing fourth in 14’53 to set a new French national record, cheered on by the crowd gathered along Quai Albert 1er.

The men’s race saw Belgian runner Isaac Kimeli narrowly miss the European record by three seconds, finishing in 13’18. He was closely followed by Frederik Ruppert (GER) and Djilali Bedrani (FRA), who clocked 13’21 and 13’22, respectively

Monaco Run 2025 in numbers

The event reached its highest participation numbers to date, reflecting its growing popularity among both amateur and elite athletes. Among the 3,800 registered runners, 37% were women, and 15% came from outside Monaco and France. A further 42% were French runners from regions beyond Monaco and the Alpes-Maritimes. 

The race weekend began on Saturday with the Trail du Mont Agel, the City Trail, and the 1000m event, before concluding on Sunday with the 10km race, the 5km event, and the Pink Ribbon Walk, which raised awareness for breast cancer.

The 10km race also saw a record turnout, with Cédric Siebert winning in 30’44, ahead of Hamid Boudhair (31’03) and Julien Geydon (31’47). Monégasque runner Nicolas D’Angelo finished just outside the podium in 31’48. On the women’s side, Augustine Emeraux took first place in 34’06, followed by Aurora Bado (34’27) and Justine Guerard (35’37).

A new initiative was introduced this year with the launch of dossards solidaires, allowing runners to donate part of their entry fee to one of four Monégasque charities: the Association Monégasque pour la Protection de la Nature, Pink Ribbon Monaco, Fondation Flavien, and Les Enfants de Frankie. The initiative aimed to provide financial support to causes focused on environmental conservation, cancer awareness, and children’s welfare.

With a record number of runners, managing the event required significant logistical coordination. A total of 180 volunteers and 40 members of the organising committee worked throughout the weekend to oversee race operations, particularly at the start and finish areas on Quai Albert 1er, where the Running Expo was also held. The expo featured 11 partners offering activities and merchandise for runners and spectators.

Saturday’s races took place under challenging conditions, with rain and cold temperatures throughout the day. By Sunday, the sun had returned, and the Monaco Run saw a huge turnout, with crowds lining the course to support the runners as they raced through the Principality.

Monaco Life was there! See more in our video below…

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Photo by Monaco Life.

Monaco’s real estate market soars to €5.9 billion amid surge in new property sales

Monaco real estate mareterra

Monaco’s real estate market is at an all-time high, reaching an astonishing €5.9 billion in total sales in 2024, driven by a record-breaking wave of new property transactions.

Sales of newly built homes accounted for a staggering €3.7 billion—more than the combined total of all new property sales in the Principality between 2006 and 2021. This unprecedented share follows the completion of 159 new residences last year, primarily within the highly anticipated Mareterra eco-district in Larvotto. Not since 1993 has Monaco seen such a high number of private-sector dwellings delivered in a single year.

See more: The mighty Mareterra: Prince Albert II inaugurates “his vision” of sustainable urban development

In a market defined by exclusivity, demand for large, family-sized residences dominated sales in 2024. Nearly 95% of all new homes sold featured three or more bedrooms, including eight ultra-premium villas. Over half of these properties achieved sale prices of €20 million or more, with seven transactions surpassing the €100 million mark—highlighting the extraordinary level of wealth flowing into Monaco’s property sector.

Resale market slows, but values remain strong

While the resale market declined for a second consecutive year—reaching its lowest transaction volume since 2012—values held firm. The total number of resales dropped by almost 6% compared to 2023, but the overall market value slipped by just 0.6% to €2.2 billion.

Monte-Carlo remained the most sought-after neighbourhood, accounting for 132 of the 365 total resales. Meanwhile, La Rousse, despite being the second most popular district for resales, saw a significant decline in activity, with transactions falling by over 25%.

Interestingly, one-bedroom apartments were the only segment to see an uptick in resale transactions—contrary to trends in the new property market, where family-sized homes were the clear favourite among buyers.

Monaco’s property market defies global trends

While global real estate markets have faced uncertainty in recent years, Monaco’s high-end property sector continues to thrive, fuelled by strong international interest and an ever-growing demand for ultra-luxury living. With landmark developments like Mareterra reshaping the landscape, the Principality’s real estate market is proving once again why it remains one of the most exclusive in the world.

Read related:

Mareterra revealed: The story behind Monaco’s bold architecture

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.  

 

Photo credit: Cassandra Tanti

Venturi Space appoints French astronaut Jean-François Clervoy as ambassador

Venturi Space, the aerospace division of the Venturi Group, has welcomed renowned French astronaut Jean-François Clervoy as its new ambassador. This appointment comes as the company continues its expansion, now with a presence in France, alongside its bases in Monaco, Switzerland, and the United States.

Jean-François Clervoy, a veteran astronaut with 33 years of experience and 675 hours in orbit, is widely respected for his contributions to space exploration. Originally from Lorraine and now based in Toulouse, he has taken on the role of sharing his expertise with Venturi Space. His career includes three space missions with NASA, where he played pivotal roles in atmospheric studies, resupply missions to the Mir space station, and the servicing of the Hubble Space Telescope.

Jean-François Clervoy, photo credit: NASA, source: Venturi Space“Venturi has been close to my heart for 25 years, and choosing the right ambassador for Venturi Space was a crucial decision,” said Gildo Pastor, president of Venturi and Venturi Space, in a statement. “With Jean-François Clervoy, I am confident that our technologies and expertise will be showcased in the best possible way, reflecting our values, vision, and philosophy.”

Venturi Space is currently developing high-performance batteries and hyper-deformable wheels, two critical technologies that will soon be deployed on the Moon. These innovations will be integrated into the rovers of the American company Venturi Astrolab. The FLIP rover is set to launch by the end of this year, while the FLEX rover, expected to begin private missions in 2027, has been pre-selected by NASA for potential use around 2030.

In recalling his first meeting with Venturi’s president, Jean-François Clervoy said, “Gildo Pastor has long demonstrated the essential qualities for success in space exploration: passion, boldness, commitment, innovation, and leadership,” said Clervoy. “I am delighted to join the international Venturi Space team, whose excellence is transforming dreams into reality.”

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.

See also: 

Venturi hosts historic visit celebrating Monaco’s lunar endeavours

Main photo: Jean-François Clervoy, source: Venturi Space