Why is Monaco real estate not affected by the crisis?
For more than 2 years, the real estate market has been under tension. A situation partly due to the economic and health crisis having an impact on real estate transactions. Nevertheless, Monegasque real estate resists and does not know the crisis. This one is, indeed, always particularly attractive.
A city-state with an attractive location
Located along the Côte d'Azur, between the Mediterranean and the Southern Alps, the Principality has an exceptional geographical location. This territory is therefore particularly privileged in terms of climate, at any time of the year. This benefits the vegetation of the French Riviera, which is green and lush. Thus, Monaco is a pleasant city to live in and benefits from a pleasant environment. The elegance, charm and beauty of the region make it a popular place for buyers who prefer it to Singapore or Dubai.
The Principality is also close to Nice and its airport, served by the TGV, major highways, and has a heliport and a seaport. It is therefore at the heart of a vast travel network. The elegance, charm and ideal location of Monaco make it a popular place for buyers. Sensitive to these advantages, they continue to invest in Monegasque real estate.
A developed cultural activity
Monaco is a cultural hotspot. Indeed, each year, 5% of the national budget is devoted to it*. This allows Monegasques to access many cultural events and exhibitions in museums, theaters and even the city's opera house.
The Principality also has a rich heritage. From the Prince's Palace to the chapels, without forgetting its gardens, there is no shortage of cultural visits. This dynamic is a real asset in the eyes of buyers. For a rental investment, as for living in Monaco, the cultural richness of the city contributes to its attractiveness.
Property transactions on the rise in the Principality
Monaco is not experiencing the crisis, the proof is: real estate sales increased by 44% in 2021. If, according to the report of the Observatoire de l'Immobilier2, the price per square meter is now €52,000 , buyers remain seduced by the quality of life, the charm, and the taxation of the Principality.
Establishments and prestigious real estate
Real estate in Monaco is synonymous with luxury and prestige. This concerns almost all of the Monegasque real estate stock. From the Odeon tower to Bay House, the apartments stand out from what can be found in Switzerland and elsewhere. The presence and scarcity of real estate contribute to the attractiveness of the Monegasque market.
Indeed, the real estate there is exceptional on many points. The beautiful districts of Monaco are full of apartments decorated by world-renowned interior designers, with swimming pools or even private cinemas. Investors are therefore ready to pay a high price to acquire one of the Principality's prestigious apartments.
Attractive, exceptional, rare: these words represent current Monegasque real estate. The market in Monaco still attracts buyers from all over the world, and therefore has a bright future ahead of it.