The aim of this Real Estate Observatory by the Monaco Statistics (Institut Monégasque de la Statistique et des Études Économiques) is to present one of the sectors of activity in the Monegasque economy, real estate, and more specifically private sector residential real estate, as well as its evolution over the last ten years.
Property resales refer to dwellings that have already undergone a transfer of ownership or those that were completed more than five years before the transaction.
The term ‘villa’ used in this Real Estate Observatory encompasses both detached houses and entire buildings.
However, as these properties are often purchased with the intention of being demolished to make way for new developments, analysing their resale prices is of limited relevance.
The resale market regained momentum in 2025 after two consecutive years of decline. The number of transactions reached 429 dwellings, up 17.5%, or 64 additional properties. This volume is slightly higher than the average observed over the last decade of 424 resales per year.
This increase affects all types of housing and is particularly marked for 3-bedroom flats, with 19 additional transactions compared to 2024 (+54.3%), as well as for 2-bedroom flats, with 18 more resales in one year (+19.8%).
Monte-Carlo stands out significantly, with 164 resales recorded in 2025, representing nearly two-fifth in the Principality.
The number of transactions in this district increased by 32 compared with 2024 (+24.2%) and reached its highest level since 2014, when there were 190 properties.
La Rousse comes in second place with 100 properties resold, representing 10 additional transactions compared to the previous year.
Next come La Condamine, with a total of 44 resales (+10 in one year), and Jardin Exotique, with 41 transactions, representing a sharp increase (+19).
In contrast, the number of resales fell slightly in Fontvieille (-3), Moneghetti (-7) and Monaco-Ville (-4).
Finally, fuelled by the arrival of newly built properties on the resale market, the Larvotto district recorded its highest volume, with 13 transactions in 2025, twice the average observed over the last ten years.
In 2025, the value of resales increased by more than 1 billion euros (i.e. nearly 50%) and exceeded the symbolic €3 billion mark for the first time. At €3.2 billion, it exceeded the previous record set in 2019 by more than €700 million, with almost the same number of transactions.
The amount is up for all types of housing, particularly for properties with 4 or more bedrooms (+€420.0 million, increase of more than 80%) and villas (+€312.2 million, equaling a 222.5% increase).
In 2025, resales value rose in five out of eight districts, reaching record levels in three of them.
In Monte-Carlo, it increased by more than €300 million (+41.5%) and exceeded €1 billion for the first time, reaching €1.1 billion.
In Larvotto, pushed by the arrival of recently constructed buildings on the resale market, the total amount for the district increased nearly fivefold in one year. It reached an unprecedented €851.9 million with only 13 transactions recorded.
The Jardin Exotique district also set a record, with €246.7 million in resales, significantly exceeding the previous peak of €205.3 million reached in 2017.
Conversely, only the Fontvieille, Moneghetti and Monaco-Ville districts saw a decline in the value of resales, in line with the drop in the number of transactions.
Driven by recent deliveries of high-end properties, the average resale price rose sharply in 2025, gaining €1.6 million (+26.8%) to reach €7.6 million, setting a new record. In ten years, the mean resale price has increased by €3.3 million, or 78.0%.
The median price is also on the rise, albeit more moderately (+11.1%), and has also reached a historic high. In 2025, more than one in two resales was concluded for a price of €4.0 million or more.
In 2025, the average price of studio flats sold on the resale market rose by 5.5% to reach a new record of €2.0 million.
Prices also rose for 1-bedroom flats (+9.0%), reaching a peak of €4.0 million.
Conversely, 2-bedroom flats (-6.5%) and 3-bedroom flats (-9.1%) saw a decline after a year of strong growth, while remaining at high levels of €5.5 million and €10.2 million respectively.
Properties with 4 or more bedrooms stood out with a sharp increase (+54.1%) to an unprecedented average price of €29.0 million, an increase of €10 million in one year.
It should be noted that this indicator is not calculated for villas due to the low number of resales in this category (five in 2025).
Due to rising prices per square metre and changing buyer demand, the number of resales under €5 million has been declining every year since 2014 (-32.8% in ten years). In 2025, 274 properties were sold in this price range, representing less than 65% of all resales, compared with 408 transactions in 2016, which accounted for nearly 80% of the total at the time.
On the other hand, the number of properties sold for more than €5 million increased by 23.0% compared to 2024, and their share of total resales rose from 34.5% to 36.1%.
In 2025, 22 resales exceeded €20 million, a level never before seen since the creation of this observatory, even though the proportion remained relatively stable compared to last year (5.1% compared to 5.2%). This number has more than doubled in ten years.
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EXCLUSIVE:
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