Investing in Monaco’s Larvotto District: 
Analysis by Silvio PIRAS, Director of PIRAS Immobilier Monaco

There is a district on the Riviera where price per square metre is no longer negotiated like ordinary real estate, but rather like a rare work of art. Larvotto, Monaco’s newly redeveloped seafront district, has just crossed a threshold that has caught the attention of even the most seasoned observers of the Monaco property market: €71,167 per square metre in 2025, according to data published by IMSEE (Monaco Statistics and Economic Studies Institute). For any investor considering investing in Monaco, this figure is far more than a statistical curiosity: it confirms an investment thesis that PIRAS Immobilier, a leading Monaco real estate agency since 1976, has upheld for nearly fifty years. In Monaco’s luxury real estate market, location matters more than size, and today Larvotto is the clearest demonstration of that principle.

A Historic Record Reshaping Monaco’s Real Estate Market

According to the latest edition of the Monaco Real Estate Observatory, the average price per square metre of property in Monaco reached €57,569 across all districts in 2025. Behind this average lies a highly segmented market: three distinct price tiers now define Monaco real estate, with Larvotto alone occupying the very top of the pyramid. For the first time, the district has surpassed the symbolic threshold of €70,000 per square metre, recording annual growth of 2.2%.

By comparison, Saint-Jean-Cap-Ferrat, long considered one of the benchmarks for luxury property on the French Riviera, reaches approximately €14,000 to €18,000 per square metre. Paris’s prestigious 6th arrondissement, despite its reputation for exceptionally high property values, barely exceeds €13,000 per square metre. Larvotto therefore operates in a category of its own, with virtually no equivalent in the European residential market, a decisive consideration for investors seeking not only returns, but also the long-term preservation and appreciation of their capital.

Why Larvotto Has Become a Benchmark for Luxury Real Estate

Larvotto owes its position to far more than its seafront location. The district brings together the key features that discerning investors prioritise when considering buying an apartment in Monaco, or even a luxury apartment for sale in Monaco within the Principality’s latest developments: structurally limited land availability, immediate access to the Casino de Monte-Carlo and the Monte-Carlo Country Club, and a residential property stock that is regularly enhanced by exceptional new developments. Together with Avenue Princesse Grace and the Carré d’Or, Larvotto forms a trio of the Principality’s most sought-after addresses. This positioning is confirmed by Monaco real estate professionals, who observe demand coming primarily from residents already established in the Principality, particularly international families, notably British families, seeking to make Monaco their long-term home.

“In Larvotto, buyers are not simply purchasing a property: they are investing in an ecosystem, infrastructure and a long-term value appreciation trajectory that have proven remarkably resilient year after year,” notes Silvio PIRAS, Director of PIRAS Immobilier. “It is precisely this long-term wealth preservation strategy, far more than the prospect of immediate returns alone, that has guided our international clients towards this district for several decades.”

New Developments, the Main Driver of Value Appreciation

One of the key findings of IMSEE’s new methodology, now based on a linear regression model incorporating sales, resales and construction periods, concerns the valuation gap between new-build and older properties. In Larvotto, developments completed between 2020 and 2029 reach €71,241 per square metre, compared with an average of €42,142 per square metre for properties built before 1940 across Monaco as a whole. This gap of more than €23,000 per square metre illustrates a fundamental market trend: the most recent high-end residences, offering premium amenities and panoramic views over the Mediterranean, now attract the bulk of demand from international property investors.

This trend can be observed throughout the Principality, where the average price of new-build properties has now reached €65,602 per square metre. Larvotto, however, remains its most accomplished expression, supported by the arrival of exceptional developments that are reshaping Monaco’s seafront.

Investing in Larvotto: What Rental Yield Strategy?

Beyond long-term capital appreciation, Larvotto also stands out as a prime Monaco real estate investment opportunity for buyers focused on the rental market. Professionals in the Monaco property sector have observed a clear improvement in rental yields for well-positioned high-end properties, now estimated at around 3%, compared with barely 1% a few years ago, while certain exceptional assets can achieve yields of up to 4%. This trend is largely explained by the significant increase in rents across the Monaco market, which have almost doubled over the past three years.

For an international investor, this combination of limited supply, sustained capital appreciation and improving rental yields positions Larvotto as one of the most robust allocations within the Monaco luxury real estate market in Europe, supported by a fiscal and regulatory environment that remains among the most stable on the continent.

An Increasingly Selective Monaco Real Estate Market

In 2025, the Principality recorded 493 transactions, representing a total transaction volume of €5.9 billion, a level broadly stable compared with the record set the previous year. The average resale price reached €7.6 million, marking a new all-time high for Monaco. This overall strength confirms that the Monaco real estate market, far from slowing down, is being reshaped around increasing selectivity, with exceptional districts such as Larvotto capturing a disproportionate share of attention from the most demanding investors.

Why Choose PIRAS Immobilier to Invest in Larvotto

Since 1976, PIRAS Immobilier has been assisting an international clientele of buyers, tenants and investors in identifying the most exceptional and strategically positioned properties on the Monaco real estate market. Our in-depth knowledge of Larvotto, including recent developments, off-market opportunities, condominium dynamics and building-by-building appreciation prospects, enables us to provide each investor with a rigorous wealth and property analysis that goes well beyond simple access to available listings. In a district where scarcity is a defining factor, the guidance of a long-established Monaco real estate expert represents a decisive advantage.