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Monaco Residential Market - 2016

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Monaco Residential Market - 2016

Monaco continues to be an exceptionally attractive location for the global wealthy and has all the key ingredients for real estate price growth. 

A very strong local economy employs more people than can be physically accommodated within the city state. High demand for both residential and commercial space meets with low supply in an extremely limited land area.

Monaco’s residential property market may be very valuable but it is also very small. Transaction numbers topped only 547 in 2015 but, even then, this represented less than 4% of private housing stock numbers in Monaco. On average, since 2006, less than 3% of private stock has traded each year, meaning that the average Monégasque home changes hands only once every 37 years. This compared to prime London properties, for example, where the norm is nearer once every 20 years.

Source : Savills

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Keywords : Savills