The 88 new apartments sold in Monaco during 2022 helped take the total value of sales over the one billion euros mark for the first time, figures from the Statistical Office (IMSEE) show.

Meanwhile, in the first quarter of this year the value of new sales exceeded 400 million euros, “an absolute record,” according to IMSEE. Eighty percent were properties still under construction.

Most properties sold in 2022 were resales, accounting for 432 out of 520 in total. Overall,the value of transactions in the first three months of 2023 increased by 12.4 percent to a total of 563 million euros.

The price per square metre remained above 50,000 euros in 2022, at 50,952, down slightly from 2021.