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