5 July 2022
Monaco Average sales price 2021
The Monaco average sales price per m² has reached a new record high, dramatically increasing by 9% during the past 12 months to just under €52,000 per m² (€51,912)
– There is now a three-way tie for the ‘most expensive district in Monaco’ between Carré d’Or, Larvotto and Fontvieille which are all nearly €60,000 per m2 (Carré d’Or technically just wins from Larvotto)
– Jardin Exotique once again comes in as the least expensive area to live, square meter prices dropping over 5% last year to a new average of €35,460/m².
– More than a third of all transactions took place last year in the famous ‘Monte Carlo / Carré d’Or’ district of Monaco.
– Larger flats are worth more. The price per m² for very large apartments (4 beds and over) increased by 22% and now stands at €60,546 per m².
– But small still sells since over half of the total transactions last year were for studios and one bed apartments (243 of the 417 units sold).
– 2021 was a strong year for new build projects, sales rose 44% with 90 units delivered (although 62 of these were rental only in the Mona residence).
– The average new build apartment price in Monaco was €10.2m.
– Total money spent buying existing property increased by 7.3% during 2021 totalling €2.1bn (still €375m down on the pre-Covid 2019 record year).
– Monaco average property prices have risen almost 75% over the past ten years.
Download the full IMSEE report
You can download the full IMSEE report from their official website at: https://www.imsee.mc/Publications/Observatoire-de-l-Immobilier