Monaco Flag

Monaco: House Prices, Rents, and Rental Yields

In Depth

Find Property

Directory

Global Statistics

Regional Statistics


Last Updated: Jun 10, 2009

Monaco rents have kept pace with prices

Last Updated: Jun 10, 2009
MONTE CARLO - Apartments COST (€) YIELD (p.a.) PRICE/SQ.M. (€)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
40 sq. m. 1,500,560 1,751 1.40% 37,514 43.78
80 sq. m. 2,451,520 3,496 1.71% 30,644 43.70
150 sq. m. 6,100,800 6,644 1.31% 40,672 44.29
Districts researched:
Monaco: Monte-Carlo, Larvotto, and Saint Roman
Source: Global Property Guide                    Definitions: Data FAQ                       See also: Update Schedule

The average price of an apartment in Monaco is €34,276 per square metre (sq. m.), 9.15% down from € 37,729 per sq. m. in 2008, according to Global Property Guide research (see methodology).

It is difficult to imagine anyone paying over US$50,000 for a single sq. m. of residential real estate. But that’s the cost of the rich man’s ghetto which is Monaco.

Monaco’s yields are very low, with average gross rental yields now at 1.47% - about the same level as last year, which means rents have kept pace with prices.

We at the Global Property Guide tend to believe that yields fluctuate around a mean, in any location.  High prices and low yields are typically followed by a correction, and a shift to renting, and then a period of lower prices, and higher yields.

So where does that leave Monaco? Whatever its peculiar attractions, notably zero tax, square metre prices of US$50,000 are totally outside any normal range. So too are 1.5% yields.

Does that mean there will be a price collapse soon in Monaco? 

We keep expecting it.  Yet Monaco keeps defying our forecasts.

 

 

Your Comments

Be the first to comment!

Post a comment

Email address is kept strictly confidential
* Optional, but allows us to notify you when your comment has been posted.
Comments submitted using this form will be published.
Note that the editors cannot answer specific questions, e.g., about law or taxation.
These issues can be raised by posting publicly here, where often knowledgeable local readers are able to assist.



Subscribe to our Newsletter!

Enter your email address to sign up.