The year 2025 marks a spectacular turning point for Monaco’s real estate market. After two years of noticeable slowdown, the Principality is now experiencing a recovery of unexpected magnitude, surpassing even the most optimistic projections. The market is returning to an exceptional momentum, reaffirming Monaco’s position among the most sought-after real estate destinations in the world.
The second quarter of 2025 proved to be a pivotal moment. With 295 transactions recorded compared to 181 during the same period last year, the increase exceeds 50%. This acceleration affects both new and resale properties, a phenomenon rarely seen in over a decade.
In the resale segment, 238 apartments changed ownership in the first half of the year, compared to just 174 a year earlier. This rise reflects a clear renewed interest in buying in Monaco after a period of caution linked to rising interest rates and international tensions.
New developments achieve historic performance
The market for recent projects is driving this surge. With 57 sales in six months and over €2.5 billion invested, results far exceed previous records. By comparison, only 28 new units were sold in all of 2023.
The new Mareterra district, delivered at the end of 2024, stands as the epicenter of this dynamic. This sea-front extension, designed as a model of engineering and sustainability, added 130 ultra-luxury residences attracting an international clientele ready to invest significant amounts to settle in this new area.
A saturated rental market pushing buyers
The 2025 boom also stems from changes in the rental market. Between 2023 and 2025, rental demand far exceeded supply, particularly among British, Swiss, and German residents. The growing scarcity of available properties and rising rents have pushed many residents to prioritize purchasing. Since September 2025, purchase requests have increased sharply, illustrating the well-known shift from a tight rental market to growing demand for ownership.
The symbolic €100,000 per square meter
A symbolic threshold was reached in 2025, that of €100,000 per square meter. This level, while emblematic, remains limited to a handful of exceptional addresses. Mareterra naturally, but also some Carré d’Or residences such as 26 Carré d’Or, Le Mirabeau, La Petite Afrique, or Villa de Rome, reached these heights.
These prices concern only properties that meet the most sought-after criteria: exceptional location, iconic building, high-end finishes, flawless renovation. Experts estimate that, excluding Mareterra, these ultra-premium apartments are rare. Some residences like Park Palace or Sun Tower are approaching this level, indicating that this ceiling could gradually expand.
A new ultra-luxury segment
The rise in prices accompanies a profound market transformation with the emergence of a segment dedicated to ultra-luxury. Developers now adapt their projects to an increasingly demanding international clientele.
Standard apartments are giving way to very large spaces, spectacular penthouses, duplexes, and triplexes equipped with exceptional amenities.
Developments such as One Monte Carlo, Bay House, or L’Exotique embody this new direction, aligned with Monaco’s strategy to attract high-net-worth individuals, notably through the Monaco Private Label program designed for the global elite.
An economy fully supporting demand
The economic context also underpins this dynamic. Monaco’s GDP exceeds €10.3 billion for the first time, with a real growth of 8.8%, a remarkable performance in a challenging European environment. This vitality attracts entrepreneurs, wealth managers, and UHNWIs seeking a stable, secure, and fiscally attractive environment. Their settlement directly adds pressure to a market where supply remains limited due to scarce available land.
Outlook for 2026
Experts expect a stable but still very active 2026. New deliveries should decrease following the exceptional volumes of 2024 and 2025, but demand, especially for ultra-premium properties, remains strong.
If the current trend continues, the market could reach between 450 and 500 annual transactions, a level comparable to the best historical years. Prices are expected to remain high, supported by demand that consistently exceeds supply.
Monaco thus confirms its status as a unique real estate market, supported by political stability, fiscal attractiveness, quality of life, and economic solidity. A rare combination that continues to draw the world’s wealthiest individuals.
