In its recent report on the residential property market in the Principality, international agency Knight Frank is very positive about likely future trends, especially in the context of economic trends.
“The security and privacy Monaco offers is not going unnoticed by wealthy buyers. The pandemic has increased wealth inequality, but it has also led the super-rich to re-evaluate where and how they want to live. Many are bracing themselves for a new era of higher taxes and lower asset growth as fiscal stimulus is withdrawn and interest rates rise.
“Against such a backdrop Monaco is gaining attention. Residential sales increased seven percent to 440 in 2021 and the number of individuals with more than US$30m grew 5% in 2021, according to The Wealth Report 2022. This latter figure is forecast to rise a further 23 percent in the next five years.
“In Monaco, the €5m-€10m price band saw the biggest increase in sales in 2021 with a 38 percent jump year-on-year. The neighbourhoods of Monte- Carlo and La Rousse together accounted for 56% of all sales.”
The Report says that Jardin Exotique arguably offers the best value.
Knight Frank also mention the regeneration project for Fontvieille and the Mareterra project.
THE FULL REPORT: https://content.knightfrank.com/research/239/documents/en/monaco-insight-report-2022-9088.pdf