Monaco Real Estate Agents Share Their Insider Knowledge
Luxferity, 21.12.2023
Insider knowledge from Monaco real estate agents
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By Joanna Lewis.
The Principality of Monaco is one of the world’s most exclusive destinations, with a real estate market to match. Indeed, the principality boasts a fast-moving market coupled with some of the highest real estate prices in the world. Investors and renters can choose from an exquisite selection of extravagant properties designed to meet the expectations of the world’s most affluent individuals.
The Microstate's Macro Appeal: Understanding Monaco's Allure
To understand why Monaco’s real estate market is so vibrant, you must first understand what makes the principality such an attractive destination.
Monaco residents enjoy an ultra-luxury lifestyle, superb year-round weather, excellent infrastructure, low crime, a well-regulated financial system, political and economic security, and a mild tax regime.
As many Monaco real estate agents note, the principality offers everything the world’s wealthiest desire right on their doorstep, with established, world-class service providers ready and waiting to cater to their every need.
Behind Closed Doors: The Players Shaping Monaco's Real Estate Landscape
Helping the world’s richest individuals are Monaco’s leading real estate agents. The best boast extensive market intelligence and industry expertise, along with a bulging book of contacts.
One of the principality’s leading real estate agencies is La Costa Properties Monaco. As a trusted, family run Monaco real estate agency with more than 40 years of expertise, La Costa Properties Monaco is trusted by some of the world’s most discerning property investors.
With some of the best properties sold off-market or shortly after being listed, discerning individuals need a Monaco real estate agent with relationships with key contacts to help secure the most sought-after properties. La Costa Properties Monaco boasts a wealth of knowledge and key relationships with Monaco's movers and shakers, ensuring clients coveted access to the best properties.
An exquisite choice of luxury real estate
Monaco boasts spectacular properties designed to appeal to the world’s richest, from chic properties to out-of-this-world penthouses that have attracted international attention.
Buyers can choose from a wide range of architectural styles, from stunning belle epoque buildings to cutting-edge contemporary buildings designed by world-renowned architects. Some of the most sought-after modern residential properties include L’Exotique, Le Stella, One Monte-Carlo, and Tour Odeon, Monaco’s highest twin-tower skyscraper.
New luxury developments are catering to the demands of the world’s wealthiest. One such ultra-luxury development is Mareterra, a new ultra-luxury eco-development that is being built on reclaimed land. The project is considered one of the most ambitious in Europe and, once complete, will include a stunning collection of super-prime properties, including ultra-rare water-front villas.
Many modern Monaco apartments come with dedicated concierge services along with a wonderful selection of amenities, including fitness centres, swimming pools, and wellness facilities. Working with a leading Monaco real estate agent can help fine-tune your property search and ensure you have access to the finest properties to ensure a financially savvy acquisition.
Monaco real estate market trends
High demand for property and limited land mass means real estate prices have soared. Indeed, the principality’s real estate market has witnessed incredible growth over the past decade, up 60%, according to the Real Estate Observatory report.
According to the latest Monaco Real Estate Observatory Report, the average price per square metre currently stands at 50,982 Euros. The most exclusive properties are found in the districts of Larvotto and Monte-Carlo, with an average price per square metre of 62,351 and 55,054 Euros, respectively.
Leading Monaco real estate agents predict that the real estate market is expected to continue its upward trajectory, driven by the growing number of ultra-wealthy individuals globally and Monaco’s limited land mass.
This growth has provided investors with incredible returns, driven, in part, by increasing demand and limited landmass. According to the report, the average Monaco real estate price now exceeds the 5 million Euro mark, and there are more properties than ever now selling for in excess of 20 million Euros.
The Price of Paradise: Monaco Real Estate Market Challenges
A key challenge faced by developers and buyers in Monaco is limited land mass, which means property prices continue to soar.
The current global economic and political issues are causing a limited impact on the principality’s real estate market. Reports state that real estate figures continue to exceed pre-pandemic growth, and real estate sales in Monaco soared by 18.2% in 2022. And, while the price per square metre dropped ever so slightly in 2022 compared to 2021, it continued to remain above the historic 50,000 Euros per square metre.
There’s no question that Monaco’s real estate market is going from strength to strength. If you want to learn more about acquiring luxury real estate in Monaco, contact a reputable Monaco real estate agent today.
