Real estate sales in Monaco set a new record in value in 2022, reaching 3.54 billion euros.
Following the coronavirus year of 2021, the annual increase was 51.8 percent, according to IMSEE, Monaco’s statistics office.
Sales of new homes also set a record, at 88 units, four times more than in 2021.
Sales of existing homes accounted for the bulk of sales, with 432 apartments changing hands for a combined total of 2.35 billion euros. Two-room apartment transactions fell by 5.4 percent over 2021, but three-room apartment sales increased by 18.4 percent.
Average price per square metre fell by 1.8 percent in 2022 from 2021, following a sharp rise of nine percent.
However, at nearly 51,000 euros per square metre the figure remains above the symbolic threshold of €50,000/m².
Larvotto has the most expensive real estate, at more than €62,000/m², according to IMSEE.