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:
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