+377 97 97 79 29
info@miells.com
14 avenue de la Costa, 98000 MonacoEvery year, IMSEE publishes its Real Estate Observatory. In its latest edition, released in February 2026, the institute provides the price per square meter for each neighborhood in Monaco, based on real transactions in 2025. In 2025, the average price per sqm across all transactions stood at €57,569, a slight decrease of 1.4% compared to the peak of €58,402 recorded in 2024. Over ten years, growth remains robust: the sqm cost €40,599 in 2016, translating to a +41.8% increase over a decade.
How does IMSEE calculate this price?
To understand these figures, one must first understand how they are produced. IMSEE uses a statistical model called linear regression. Simply put, imagine taking all apartment sales in Monaco for which the area is known, 427 properties out of 470 in 2025, or 90.9% of the total, and seeking to isolate the effect of three factors on the price: the year of the transaction, the neighborhood, and the building’s construction period.
In practical terms, this model answers questions like: “For the same neighborhood and building age, how much did the sqm increase between 2020 and 2025?” or “For a building from the 2000s, how much is the sqm worth in Monte-Carlo versus Jardin Exotique?” This is more precise than a simple average because it takes into account the fact that not all sold properties are identical.
Note: this method was introduced in the 2025 edition and now includes both sales of new developments and resales, whereas previous editions only accounted for resales. This makes direct comparisons with past figures impossible. The data series has therefore been entirely recalculated from 2016 onward to ensure consistency.
Price per sqm by neighborhood in Monaco in 2025
This is the most useful data if you are looking to buy, sell, or understand the market. IMSEE identifies three price levels:
- The most expensive neighborhood: Larvotto
Larvotto posts the highest price per sqm in the Principality at €71,167/sqm, up 2.2% year-on-year, crossing the €70,000 threshold for the first time. It is important to note that in IMSEE’s classification, the Mareterra sector is included within the Larvotto neighborhood, which directly pushes the average upward. In this micro-sector in particular, prices start at around €80,000/sqm and can exceed €100,000/sqm for exceptional properties.
- The intermediate neighborhoods
Monte-Carlo (€54,009/sqm, +4.8%), Fontvieille (€52,518/sqm, +4.5%), La Condamine (€52,104/sqm, -0.7%), and La Rousse-Saint Roman (€51,265/sqm, +3.2%) fall within a narrow range of €51,000 to €54,000 per sqm. The slight drop in La Condamine does not change its overall positioning: IMSEE’s model shows that prices in this neighborhood do not differ significantly from those in Monte-Carlo once the other factors are neutralized. Within Monte-Carlo, the Carré d’Or area stands out clearly, with prices generally ranging from €70,000 to €90,000/sqm for the most sought-after properties.
- The most accessible neighborhoods
Jardin Exotique (€45,168/sqm, -3.7%) and Les Moneghetti (€43,797/sqm, +3.3%) show the most moderate prices in the Principality. Located higher up and slightly away from the center, they appeal to buyers looking for more peace and quiet, greenery, and often larger living spaces than by the seafront. They also offer beautiful views over the Principality and a residential lifestyle appreciated by families, while still remaining in one of the highest price brackets in the world.
It should be noted that Monaco-Ville, also known as Le Rocher, is not included in the model because the number of transactions is too low to produce reliable estimates.
The age of the building matters as much as the neighborhood
Beyond location, the construction period has a significant impact on the price per sqm. IMSEE measures this precisely. Grouping the data into broad periods:
- Before 1960: around €42,000 to €48,000/sqm. These are the oldest buildings in the Principality, such as Palais Belvédère, Le Victoria, or Le Continental. Their prices remain strong despite the age of the buildings.
- 1960–1989: between €51,000 and €55,000/sqm. This was a period of major construction in Monaco, with developments such as Parc Saint Roman, Seaside Plaza, or Château Périgord. The varying standing of these residences explains differences between neighborhoods.
- 1990–2009: between €45,000 and €59,000/sqm. Buildings from the 2000s show the highest premiums in the model, driven by landmark developments such as Tour Odéon, Memmo Center, or Les Terrasses du Port.
- 2010 to today (estimate): €65,602/sqm on average for properties built since 2020. The current decade represents the highest price level, with developments such as Mareterra, Bay House, or L’Exotique. These figures are statistical estimates from the model, including for areas where few transactions have taken place so far.
Monaco compared to other expensive real estate markets in the world
To provide perspective, here is how the Monegasque market compares with other high-end real estate destinations around the world:
- Monaco: between €40,000 and over €100,000/sqm depending on the property, with an official average of €57,569.
- Hong Kong: between €35,000 and €65,000/sqm in the most sought-after areas.
- Singapore, New York: between €20,000 and €45,000/sqm depending on the neighborhood.
- Geneva: between €20,000 and €40,000/sqm.
- Courchevel 1850: between €20,000 and €50,000/sqm for exceptional chalets and apartments.
- London: between €25,000 and €50,000/sqm for the most central districts.
Monaco therefore stands out not only because of its price levels, but also because of the geographic concentration of its market: all of these price ranges coexist within less than 2.1 square kilometers. The scarcity of land, the Principality’s political and tax stability, and sustained demand from international buyers structurally support prices at these levels, regardless of global economic cycles.
What the official figures do not always say
IMSEE data is the most reliable available for the Monegasque market, but it should still be read with some nuance. Averages can hide major differences: within the same neighborhood, or even within the same building, prices vary widely depending on the floor, the view, the amenities, and the size. A ground-floor apartment and a penthouse in the same building in Monte-Carlo do not command the same price per sqm, even though both are included in the same statistical calculation.
The reality of the Monegasque market is more complex than what averages can capture. A property may sell well above or well below the average for its neighborhood depending on factors that statistics do not include: the history of the property, its liquidity on the market, the competition at the time of sale, or nearby development projects. The €50,000/sqm threshold was crossed in Monaco in 2021 and has not fallen below that level since, confirming a long-term upward trend, but in the most exclusive segments, some transactions close far above the published averages.
For this reason, in Monaco more than anywhere else, relying only on statistical indicators can lead to misjudgments. At Miells, we follow these publications every year, but our real added value lies elsewhere: we know the market on the ground, the buildings, the micro-sectors, and the buyers who are actively looking at any given moment. It is this practical knowledge of the market, combined with official figures, that allows our clients to make truly informed decisions, whether they are looking to buy, sell, or invest in Monaco.