Monaco’s property resale market shattered records in 2025, crossing the €3 billion barrier for the first time with 429 transactions worth €3.2 billion. The 49.1% surge in value represents the strongest performance in the sector’s history, but the real story lies in the details: which districts drove the boom, which buildings entered the market, and how newly delivered developments reset price expectations across the Principality.
According to IMSEE’s 2025 Real Estate Observatory published on Monday, the resale sector now accounts for the majority of Monaco’s total property transaction value, marking a fundamental shift in how the Principality’s real estate market operates.
Larvotto’s fivefold surge
The most dramatic growth occurred in Larvotto, where resale values surged nearly fivefold to €851.9 million despite just 13 transactions. This was fuelled by newly built properties in Mareterra hitting the resale market for the first time.
When early buyers decided to resell, the transactions established price points that fundamentally altered the district’s valuation. Larvotto’s price per square metre reached €71,167 in 2025, crossing the symbolic €70,000 threshold for the first time and cementing its position as Monaco’s most expensive district.
Monte-Carlo breaks the billion euro mark
Monte-Carlo recorded 164 resales in 2025, the highest level since 2014. More significantly, the district’s resale value exceeded €1 billion for the first time, reaching €1.1 billion. The €331.6 million annual increase marks a significant milestone for the district.
Unlike Larvotto, Monte-Carlo’s surge was not driven by 2024 deliveries. The district’s most recent major completions were One Monte-Carlo (40 units) and 26 Carré Or (9 units), both delivered in 2019. Instead, the record year reflects the sheer volume of transactions and Monte-Carlo’s enduring premium positioning.
The district saw 164 resales in 2025, accounting for 38.2% of all resales and approximately 35% of total resale value in the Principality, with its price per square metre standing at €54,009.
La Rousse and recent deliveries
La Rousse recorded 100 resales worth €433.3 million, benefiting from the 2025 delivery of Bay House (Testimonio 2 Socle) with 56 units and Villas Bay House n°1 to n°5 with 5 units. These 61 new properties provided fresh resale inventory as early buyers from the Testimonio development exited their positions.
The district’s price per square metre reached €51,265, with recent construction commanding €54,209 per square metre.
The shifting price of space
Demand for Monaco’s largest homes reached new heights in 2025, with the average resale price of properties with four or more bedrooms climbing to €29.0 million — a jump of more than €10 million in a single year and a 54.1% rise that outpaced every other category.
At the other end of the scale, studios remained a popular choice, with their average resale value rising 5.5% to a new record of €2.0 million. One-bedroom apartments also reached a peak, up 9% to €4.0 million.
The middle of the market told a different story. Two-bedroom apartments fell 6.5% to an average of €5.5 million, while three-bedroom properties dipped 9.1% to €10.2 million — though both remain at historically high levels.
IMSEE notes that villas are excluded from its price indicator due to the low number of resales in this category, with just five recorded in 2025.
Twenty-two sales exceed €20 million
The mean resale price in Monaco reached a new record of €7.6 million in 2025, up €1.6 million in a single year. The median hit €4.0 million, meaning more than half of all resales now conclude above this level — a figure that would have seemed extraordinary in most markets, but in Monaco increasingly represents the floor.
Twenty-two resales exceeded €20 million during the year. A decade ago there were 18 such transactions in a year when the average resale price stood at €4.3 million. That average has since risen by €3.3 million — roughly 77% growth in ten years — with each wave of major development deliveries pushing the baseline higher.
The share of resales concluding below €5 million has fallen steadily, from around 80% of all transactions a decade ago to under 65% today. The market has not transformed overnight, but the direction is consistent and the gap between Monaco and everywhere else continues to widen.
The bottom line
Monaco’s 2025 resale market was ultimately shaped by one underlying force: the arrival of a new generation of high-end developments on the secondary market. From Mareterra’s first resales pushing Larvotto’s values to unprecedented levels, to Bay House inventory refreshing La Rousse, to Monte-Carlo breaking the billion-euro barrier on volume alone, the data points consistently in the same direction. Prices are rising, transaction sizes are growing, and the profile of what sells in Monaco — and for how much — is being reset with each major delivery cycle. With limited new supply expected in the years ahead, the conditions that drove 2025’s record performance show little sign of reversing.