According to the Monegasque Institute of Statistics and Estudies E(IMSEE), the number of real estate sales increased by 44%, in 2021, in Monaco, compared to 2020. The attractiveness of the Principality has pushed up the price per square meter to reach a cost close to 52,000 euros. A 75% increase in 10 years. No other country in the world exceeds this growth.
” For the year 2021, the real estate market is doing pretty well soon“, declares Jean-Yves Le Graverenddirector of agencies John Taylorat the microphone of Benjamin Duconge. Real estate sales are on the rise. 417 transactions took place in 2021, in Monaco, an increase of 5.6%. The biggest increase occurs for large areas, ie apartments with more than five rooms. Sales fell by 41%.
There is a variety depending on the neighborhood. The most popular sector is that of La Condamine. In 2021, 48 properties were resold compared to 28 the previous year. The price per square meter fluctuates between 40 and 50,000 euros.
Small areas represent the largest share of sales. Shoppers have an outfit for the one, two and three piece. They constitute 80% of purchases.
But the numbers need to be put into perspective. In total, real estate sales represent a market of 2,096 billion euros. A lower value compared to 2019. That year, purchases exceeded 2,475 billion euros. The Monegasque market has therefore not yet regained its pre-crisis volume.
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