Monaco’s real estate market continues to captivate ultra-high-net-worth individuals (UHNWIs) around the world. The latest Monaco Residential Market Insight 2025 by Knight Frank highlights the dynamic shifts and trends shaping this exclusive property market. With record-breaking sales, a surge in new-build transactions, and a booming super-prime market, Monaco is set to maintain its position as one of the most sought-after real estate destinations in the world. Let’s dive into the key findings and what they mean for potential investors.
Explore the full Monaco Residential Market Insight 2025 report to learn more about the trends shaping Monaco’s property market.
1. Resale Prices Hit a Record High
The Monaco resale market has seen impressive growth over the past decade. In 2024, the average resale price per square meter reached €51,967, marking a remarkable 44.3% increase in the last ten years. Despite a slight dip in transaction volumes, prices have continued to rise, underscoring the high demand for Monaco properties, especially in prime locations like Monte Carlo.
Smaller properties, particularly studio apartments and two-bedroom flats, have seen the sharpest price increases, with studio prices rising by 5.7% and two-bedroom flats increasing by 7.6%. These trends suggest that Monaco’s appeal remains strong, even for more modestly sized units, making it a valuable market for both investors and end-users.
2. New-Build Sales Surge
2024 has seen an explosive surge in new-build sales, with 101 new transactions recorded, a staggering rise from just 28 in 2023. The average price for a new-build property is €36.4 million, six times higher than the resale market. This trend reflects the growing demand for modern, luxurious residences in Monaco’s exclusive developments.
Key projects such as the Mareterra land reclamation project and Bay House have significantly contributed to the rise in new-build sales. These developments offer high-end living with top-tier amenities, making them highly attractive to wealthy buyers.
3. The Super-Prime Market Booms
The super-prime market in Monaco has hit unprecedented levels. In 2024, 57 new homes were sold for over €20 million, with seven properties surpassing €100 million. This surge in demand at the top end of the market highlights Monaco’s status as a global hub for UHNWIs seeking luxurious, exclusive living spaces.
This growing appetite for ultra-luxury homes is further amplified by Monaco’s tax advantages, political stability, and world-class infrastructure, making it an unparalleled destination for investors seeking long-term capital appreciation.
4. Limited Supply Amid Growing Demand
While Monaco has seen an increase in new developments, with 159 new apartments completed in 2024 (the highest since 1993), demand continues to outstrip supply—especially for larger homes. Notably, 71% of the new homes sold in 2024 were three-bedroom properties or larger, reflecting changes in Monaco’s residency rules, which require accommodation to match the household size.
The limited availability of larger properties combined with strong demand is expected to continue driving prices up. As fewer new developments are expected in the near future, investors can anticipate a continued rise in property values, making it an ideal time to invest in Monaco’s real estate market.
Why Invest in Monaco Real Estate?
Monaco has long been regarded as one of the most desirable places to live and invest, and the trends of 2024 reinforce its appeal. There are several reasons why Monaco remains a top destination for real estate investment:
- Tax Benefits: Monaco’s tax advantages, including no income, capital gains, or wealth taxes, make it incredibly attractive to UHNWIs.
- Political Stability: Monaco offers a stable political environment, providing peace of mind to investors.
- World-Class Infrastructure: From its luxury yacht clubs and heliports to top-tier healthcare and education, Monaco offers a lifestyle that few other destinations can match.
- Limited Supply: The constrained supply of real estate, particularly for larger homes, coupled with growing demand, creates an ideal investment climate.
Looking Ahead: Monaco’s Real Estate Future
As we move into 2025, the Monaco real estate market is poised for continued growth. With limited new supply and high demand, prices are expected to remain strong and even increase in some sectors, particularly in the super-prime and new-build markets. Investors looking to tap into one of the most exclusive property markets in the world should act quickly, as Monaco’s real estate continues to be one of the safest bets for long-term value growth.
Monaco’s position as a top luxury real estate destination shows no signs of slowing down. Whether you’re a seasoned investor or new to the Monaco market, the 2025 outlook presents exciting opportunities.