Home values in the Principality rose to a record €41,420 per square metre last year after increasing 15 percent since 2015, according to the Government’s statistics office. The strong year followed a slight decline in prices from 2014 to 2015, after a steady growth period from 2012.
The strong price rise eclipses other top-end property markets. The current price is more than twice the price of Manhattan co-op and condo properties, and almost twice the value of a luxury home in London. The high end of the Monaco market appears to be strongest. Nearly half of the 33 new homes bought in Monaco in 2016 sold for €10 million or more.