Investing in Monaco property offers a sound investment that can reap dividends in the future. With no restrictions on foreign ownership, many of the world’s richest opt to own property in Monaco and reap the benefits that the principality offers. This has created a vibrant market, with real estate in high demand.
Not only does the Principality of Monaco offer economic security, but a luxury lifestyle too. With prices anticipated to soar, now is the time to buy Monaco property. Read on to learn about the benefits of a Monaco real estate investment, including data on Monaco house prices and how to go about buying property in the city-state
Why buy Monaco property?
There are many benefits to buying a Monaco property. One of the key benefits is that the principality offers political and economic stability, paramount in a volatile world. A well-regulated financial system ensures fiscal security, while a favourable tax regime enables investors to maximise their assets. This is all coupled with an incredibly low crime rate and an enviable location along the French Riviera.
Another highlight of buying Monaco property is the principality’s legendary luxury lifestyle. Owning a Monaco property enables investors to enjoy everything the city-state offers, including Michelin-starred restaurants, lavish resorts and spas, the world’s finest designer boutiques, and world-class events, such as the iconic F1 Monaco Grand Prix and Monaco Yacht Show.
Monaco real estate prices
Monaco real estate prices have soared over the past decade. According to the latest Real Estate Observatory Report, published annually by the Monegasque Institute of Statistics and Economic Studies, the value of property in Monaco has risen by 75% in the past decade. In 2021, the average Monaco real estate price hit a record-breaking 52,000 Euros per square metre, with the number of properties selling for less than 5 million Euros continuing to decline.
Monaco real estate prices are highest in the principality’s most sought-after districts. These include Monte-Carlo, particularly around the Carre D’Or, where the famed Monte Carlo Casino can be found; La Condamine, one of Monaco’s oldest districts and home to the legendary Port Hercules; and the district of Larvotto, which boasts the famed Princess Grace Avenue and the elegant Larvotto beach, which recently benefited from a stunning new promenade now flanked by restaurants, bars, and boutiques.
Monaco real estate trends and predictions
Leading real estate agents anticipate the upward trajectory of Monaco real estate prices to continue. Limited land mass and increasing demand make it highly unlikely that prices will dip.
Keeping up with the demands of the world’s wealthiest, the Monaco real estate market is seeing an ongoing shift towards super prime ultra-luxurious residences. Take, for example, the new L’Exotique residential development, which boasts world-class design coupled with concierge services, a delightful pool, sauna, hammam, and lush tropical foliage.
Sustainability is another real estate trend, in line with Prince Albert II’s aim to ensure the principality is carbon neutral by 2050. A prime example of this is the new eco-development, Marterra Monaco, which boasts state-of-the-art green technology, including solar panels, rain-water recovery systems, and lush green spaces designed to encourage biodiversity.
How can I buy Monaco property?
The first step to buying a Monaco property is selecting an experienced real estate agent to work with.
Look for an established real estate agency that can demonstrate in-depth expertise and a wealth of industry contacts. Note that the best Monaco real estate agents are members of the prestigious Chambre Immobilière de Monaco, a body that represents some of the leading estate agencies in the principality.
The best Monaco real estate agents will boast an enviable portfolio of Monaco properties for sale. They will take the time to listen to your needs and then handpick a selection of properties to view. They will also guide you through the entire property acquisition process, offering expert advice at every stage.
With prices continuing to rise, there is no question that now is the time to buy Monaco property.