🇲🇨 Monaco Real Estate in 2024: years of historic records🚀🥂✨💎 Imsee Observatoire de l'immobilier 2024

The Monaco real estate market in 2024 presents a paradox: record-breaking figures in some segments while others show signs of stagnation. The ultra-luxury sector remains resilient, yet shifting dynamics hint at underlying tensions.

🚀💎Record-Breaking Sales Amid Market Discrepancies

€5.9 billion in total sales: A historic milestone, more than doubling 10 years ago and +80% than 2023.

✨🏝️101 new property transactions: The highest since 2006, largely driven by high-end developments like Mareterra.

☝🏼⏫Median sale price: €22.1 million, yet the average sale price remains at €36.4 million, indicating a polarization of the market.

☀️57 properties sold above €20 million, including 7 transactions exceeding €100 million.

Despite these impressive figures, the resale market is showing contrasting signals:

👩🏼‍🎨🎨365 resales (-5.9%): The second consecutive year of decline, reaching the lowest volume since 2012.

🏠Resale transaction value: €2.18 billion (-0.6%), despite a 5.7% increase in the average resale price (€6.0 million).

🏰🌊Monte-Carlo dominates with 132 resales (+10.9%), while La Rousse (-26%) and La Condamine (-46.9%) see notable slowdowns.

🚀💎✨Price Per Square Meter: A New High, but Growth Slows

❤️€51,967/m² (+1.1%): The highest average resale price ever recorded, but with signs of plateauing compared to previous years.

💎🌊Over €53,000/m² in four districts: Monte-Carlo (€53,911), Fontvieille (€53,908), La Condamine (€53,801), and Larvotto🥂✨ (€97,563, driven by a few ultra-premium sales).

⏫10-year growth: +44.3%, but the pace of appreciation has slowed.

Diverging Trends in Property Sizes

👨‍👩‍👧Luxury apartments dominate: 72% of sales were 4-bedroom units or larger.

Prices surge for smaller units: Studios (€47,836/m², +5.7%) and 3-bedroom apartments (€50,437/m², +7.6%) see their highest-ever prices.

Softening in large properties: 4-bedroom (-2.0%) and 5-bedroom (-3.7%) resale values declined slightly.

Macroeconomic & Regulatory Factors

Rising interest rates and EU tax transparency regulations could impact liquidity.

Monaco remains a global safe haven, but new developments are slowing—only 159 new units were delivered in 2024, the highest in 30 years but with a cautious outlook for future supply.

Conclusion: A Market of Contradictions

While Monaco’s real estate market remains a fortress of wealth, shifting trends suggest investors should remain vigilant. The ultra-luxury segment continues to thrive, but mid-market liquidity is showing cracks. 

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