Monaco’s Luxury

     Shortage of New Homes Sends Monaco’s Luxury Prices Soaring

Monaco Yacht Show 2017

Photo: courtesy of Monaco Yacht Show

A new report finds them clocking in at €53,000 per square                meter.

Luxury residential real estate values in Monaco reached €53,000 (US$61,832) per square meter in the second quarter of 2017, according to a new report by Knight Frank.
The tiny, independent region on the French Riviera has led Knight Frank’s annual global comparison of residential values since 2008, the report said, and was followed by Hong Kong, New York and London.
“Monaco remains at the top of global wish lists,” said Kate Everett-Allen, head of international residential research at Knight Frank, “with no other city in the world boasting the same wealth density.”
Prices are being supported by a lack of new development. Not one residential unit was completed in the Principality in 2016, according to the report released Monday, likely to put further pressure on prices in the short to medium term. While there is residential development underway, it’s a way from completion, the report said, and 75% of properties under construction are either social housing or high-end built-to-let apartments.

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With its only opportunity for expansion to extend into the sea, Monaco’s latest €2 billion land reclamation program will see six hectares of new land created from Sicilian sand, according to the report.
On it will sit 120 new high-end apartments, whose prices will be in excess of €100,000 (US$116,659) per square meter, prices that ultra prime stock in Monaco are already achieving, especially in places like the affluent Carré d’Or area. Of those 120 units being built, 50 have already been retained by the developer, leaving just 70 to be sold, the report said.
Knight Frank estimates that by 2026 Monaco will be home to 16,100 millionaires and 1,450 ultra high net worth individuals.

Anse du Portier
Anse du Portier – The real-estate future of Monaco

Anse du Portier – The real-estate future of Monaco

Monaco was always the symbol of luxury and success. To answer to its growing need the Princely government decided to extends the borders of the country by adding 60,000m² of new land to it. The project two billion euro project is a sea extension which will have a serious impact on the environmental and social landscape.

Monte-Carlo Estates

Living in Monaco

Comprehensive, objective and honest book about the Principality of Monaco and its living environment. The book Living in Monaco is also a professional relocation itinerary.
It is available for purchase in English at:

Living in Monaco
Living in Monaco book by Zsolt Szemerszky

The author Zsolt Szemerszky intended to hunt down the myth around Monaco and to go beyond gossips. Zsolt is also know by releasing Monaco’s first gourmand book. The Signature Dishes of the Principality of Monaco was launch last December 2016 as the number one release in wine pairing at allows gastronomy lovers to discover the excellence of the Principality of Monaco thanks to recipes and interviews with Executive Chefs who hold together over 50 Michelin stars.
However Living in Monaco is significantly different from his other books. It is not a travel book, it is an ultimate guideline to those who are aiming to get a glimpse about the real Monaco and who have the desire to relocate their personal or business life to the Principality.
The book explains the benefits of the relocation (both for private and business reasons), the life quality in the Principality, and reveals how can one capitalise the unseen treasures and business potentials of Monaco. The “Relocation and what it takes” chapter also explains all the tiny details, traps, tips and best practices while it offers a detailed overview of the administrative mechanism of the Principality.
One of the interesting part of the book is the second part which focuses on the people, the opportunities, and the traps in Monaco. It offers a first hand guidance to avoid to fell for the catchy workings and the illusions of luxury. Understanding the real-life examples one can truly enjoy the Principality with all its safety and protective legal systems for families and businesses.

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