|Last Updated: Jun 30, 2012|
|MONTE CARLO - Apartments||COST (€)||YIELD (p.a.)||PRICE/SQ.M. (€)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|60 sq. m.||2,223,720||2,633||1.42%||37,062||43.89|
|120 sq. m.||4,652,880||6,358||1.64%||38,774||52.98|
|200 sq. m.||7,464,200||11,704||1.88%||37,321||58.52|
Monte Carlo: Monte-Carlo, Larvotto, and Saint Roman
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule
Apartment prices in Monte Carlo have continued to fall over the past year. Average prices per square metre (sq. m.) of apartments fell by 4% during the year to June 2012. Apartments located in Monte Carlo Proper, Saint Roman, and Larvotto are now selling for around EUR 37,000 to EUR 38,000 per sq. m. In the same period last year, prices per sq. m. ranged from around EUR 39,000 to EUR 40,000.
The fall in prices happened in spite of the new property tax law enforced in June 2011, which reduced by 40% the property registration tax payable by individuals purchasing property in their own name, from 7.5% to 4.5%.
Rental yields remain very poor, ranging from 1.42% to 1.88%.
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