Monaco has an unrivalled reputation for the world’s wealthy and we expect strong demand for property to continue to flow from all over the world
- Global reputation
Thanks to its history, heritage and busy sporting and social calendar, the Principality has an unrivalled global reputation as a destination for the world’s wealthy. This is unlikely to change, and we expect the strong demand for property – both to buy and rent – to continue from all over the globe.
- Record prices
To date, Monaco, unlike many world cities, has avoided a slow down or even a price fall in its prime residential market. However, buyers are becoming more price sensitive, so we don’t expect values to increase at the same rate as they did in 2018.
- Supply constraints
Work is well underway on the Portier Cove development, which will add six hectares of new land to the Principality. Additionally, prime projects such as 26 Carré Or and One Monte Carlo will provide more choice for wealthy buyers. However, these developments will barely make a dent in the supply shortage.
- Rental demand
Monaco’s rental market is driven by new arrivals to the Principality who are either testing the lifestyle before committing or are waiting until they find the right property. We expect demand to continue, although it is likely to be targeted at larger properties due to the policy requiring the property to be appropriate to the size of the household.
Read the other articles within Report: Monaco below