February 2020

The official stats body in Monaco, IMSEE, has just published its annual report on the residential market. Called the “Observatoire de l’Immobilier”, it provides reliable data on the number of residential sales made throughout 2019 and is the bible on which we base our annual report on the market in conjunction with the Savills research team in London.

Our report will follow in greater detail but the Observatoire already highlights that 2019 was a pretty good year once again for Monaco:

- the average price per m2 is at Eur48,150, slightly down on 2018 where it stood at Eur48,800;

- the total volume of new build sales and re sales increased by 4.4% on 2018 to Eur2.8 billion;

- the total number of sales for new builds and re sales was 462, 11.7% down on 2018 when 523 sales were achieved;

- of those re sales 15 comprised villas , a large proportion in comparison with previous years, most being acquired in the context of future developments and a reflection of Monaco’s continued desire to expand and invest in new construction;

- out of the total number of re sales (429 in all), 51 were of 3 bed apartments, up 24.4% on that category of re sales in 2018 and indicative of the desire for buyers to invest in larger apartments.

More to follow in our report but please do get in touch if you would like to discuss further and see our slant on where the market is going. Ever upwards though from the look of things!

If buying is too big a leap, the rental market remains an option and we have a few (very few!) serviced apartments and studios to rent in the newly refurbished Columbus Residence in Fontvieille.