Despite a modest slowdown in activity during the third quarter of 2025, Monaco’s real estate market remains on course for a record-breaking year, according to the latest figures published by IMSEE…
Closely linked to the construction sector, property activity has eased slightly in recent months, but cumulative results for 2025 are still described by the institute as “remarkable”.
The strongest performance continues to come from new-build sales. Between January and September 2025, 64 newly built properties were sold in the Principality, more than three times the volume recorded over the same period in 2024. Transaction values reached €2.6 billion, surpassing the previous record for this timeframe by €1.2 billion. This momentum follows an exceptional end to 2024, when the delivery of landmark projects such as Mareterra and the completion of the Testimonio II programme pushed annual new-build sales to historic highs.
The resale market has also shown impressive resilience. IMSEE reports 328 resale transactions during the first nine months of 2025, the highest level since 2016. For the first time, the value of these transactions exceeded €2 billion by the third quarter, underlining sustained demand despite a more cautious economic backdrop.
That said, revenue generated by real estate activities declined by 12.8 percent in the third quarter compared with the same period last year, representing a drop of around €70 million. IMSEE attributes this contraction in part to challenges faced by property dealers, even as overall market fundamentals remain exceptionally strong.
