In Monaco, Mareterra has blown up the real estate counters

On the new property market, Monaco recorded a total sales amount of 2024 billion euros in 3,7, equivalent to the addition of sales from 2017 to 2023, reported the Monegasque Institute of Statistics and Economic Studies (Imsee).

In total, 159 new homes were delivered last year on the two km2 of the Mediterranean principality, including 130 in the Mareterra district. Some were sold earlier: thus, sales of new homes in 2023 exceeded one billion euros while there were no deliveries that year.

For the 101 new homes sold in 2024, the median price was 22 million euros, with seven villas exceeding 100 million euros.

At the same time, the market for housing considered old (more than five years old) continued its race for records: despite a drop of almost 6% in the number of sales, the total amount of transactions remained stable at almost 2,2 billion euros.

According to Imsee, the average price per m2 in old properties stands at a record 51.967 euros, up 1,1% compared to 2023 and 44% over ten years.

The median price of old homes sold in 2024 is 3,6 million euros and at the lower end of the scale, it costs an average of 1,9 million for a studio.