Monaco property prices: Larvotto tops €70,000 per m² for the first time

Which are the most expensive neighbourhoods in Monaco?

According to the latest IMSEE property market report, published in February 2026, the average price per square metre in Monaco was €57,569 in 2025. However, behind this average figure lie very contrasting realities depending on the neighbourhood. Here is an overview of prices from Larvotto to Fontvielle.

For the first time, the IMSEE has revised its method of calculating the price per square metre. Now based on a linear regression model that incorporates both sales and resales, as well as the period of construction of the properties, this new approach provides a more accurate and representative picture of the reality of the market.

This methodological overhaul now enables the IMSEE to produce estimates by neighbourhood and by decade of construction, even in areas where the volume of transactions remains limited. Using this new framework, the IMSEE has identified three main price levels within the Principality.

Larvotto, the only neighbourhood above €70,000

Unsurprisingly, Larvotto is the most expensive neighbourhood in Monaco. In 2025, its price per square metre is estimated at €71,167, crossing the symbolic €70,000 threshold for the first time, with a 2.2% increase over one year. To gauge the scale of this phenomenon, one need only look around: Saint-Jean-Cap-Ferrat, the real estate jewel of the French Riviera, caps out at between €14,000 and €18,000 per square metre, and Paris, despite its reputation for being unaffordable, barely exceeds €13,000 in its 6th arrondissement, known as the most expensive.

This record in Larvotto can be explained in particular by the arrival on the market of recent exceptional developments, including new constructions in the decade 2020-2029, which reach €71,241 per square metre in this neighbourhood. ‘You’re not just buying a building, you’re buying a neighbourhood, infrastructure and developments that are increasing in value,’ confirms Alexandre Bubbio, director of the IMSEE.

Angela Kleiber, owner, operator and managing director of the Lorenza von Stein agency, which specialises in luxury real estate in the Principality, places Larvotto at the top of her list of ‘the most sought-after and most expensive neighbourhoods’, alongside Avenue Princesse Grace and Carré d’Or. According to her, ‘demand today comes mainly from residents already living in the Principality, often international families from London in particular, who wish to settle permanently in Monaco.’

Monte-Carlo, Fontvieille, La Condamine and La Rousse at the intermediate level

This group of four neighbourhoods is priced between €51,000 and €54,000 per square metre. Monte-Carlo recorded the sharpest rise in this group, up 4.8% to €54,009. Fontvieille rose by 4.5% to €52,518. According to Angela Kleiber, this neighbourhood is attracting particular interest: ‘This neighbourhood is highly sought after by families with young children, thanks to its tranquillity and quality of life. It also attracts those who own a boat or prefer to live a little further away from the centre. It is a peaceful and highly coveted location.’ The La Rousse neighbourhood gained 3.2% to reach £51,265. La Condamine, meanwhile, posted a very slight decline (-0.7%) but remains in the same ballpark at €52,104.

Monte-Carlo dominates the resale market with 164 transactions in 2025, representing nearly two out of every five transactions in the Principality. The district also exceeded €1 billion in resales in a single year for the first time, with €1.1 billion recorded in 2025, up 41.5% compared to 2024. For new homes built between 2020 and 2029, the price per square metre in Monte Carlo now exceeds £60,000.

Les Moneghetti and the Jardin Exotique ‘more accessible’

The third level identified by the IMSEE is Les Moneghetti at £43,797 and the Jardin Exotique at £45,168 per square metre. These prices are certainly more moderate on a Monegasque scale, but remain unmatched on a global scale. As a reminder, ten years ago, in 2016, the price per square metre in the Jardin Exotique stood at €32,835. The neighbourhood has therefore grown by nearly 38% in a decade.

New builds are driving prices up

The IMSEE also notes a significant gap between recent properties and the rest of the housing stock. For homes built between 2020 and 2029, the average price, all locations combined, will rise to €65,602 per square metre in 2025, up from 2024: ‘People are attracted to these exceptional properties, and this has driven up the prices of certain developments,’ says Alexandre Bubbio. In fact, the gap between a recent property and an older property in Monaco can be tens of thousands of euros per square metre. By way of comparison, a property built before 1940 sells for an average of €42,142 per square metre, compared with €65,602 for a building from the last decade, a difference of more than €23,000.

Agency director Lorenza von Stein confirms this trend from the field: “The market remains very strong and dynamic. Prices remain high, with a slight upward trend for exceptional properties.” She also highlights the boom in rental investment, which is now capable of generating returns of around 3% on well-positioned properties, a level considered attractive in the Monegasque context. The specialist attributes this enthusiasm to the explosion in rents in recent years: ‘Rents have risen so much that they have almost doubled over the last three years. Before, we had a return of around 1%. Now, we are reaching 3%, and sometimes even 4%.’

This trend is reflected in the overall market figures. In 2025, the 493 property transactions represented a total volume of €5.9 billion, stable compared to the previous year’s record. The average price of a resale soared to €7.6 million, a new record for the Principality.

The figures published this year are not comparable with previous editions of the Observatory, which were based solely on resales.