Are you considering investing in Monaco property? Choosing the right property for sale in Monaco can be complex and time-consuming, with so much choice on offer and multiple aspects to consider.
While the principality may be small, there are several districts to choose from, each with its own distinct community feel. Not only will you need to consider which district to buy a property in Monaco, but you’ll also want to consider the property’s on-site amenities and its proximity to other services you’ll need to access regularly.
If you’re searching for property for sale in Monaco, then read on to explore some of the key aspects you’ll need to consider.
Buy an apartment in Monaco
When you buy property in Monaco, one of the key considerations will be the on-site amenities the residence offers. Monaco residences provide a selection of world-class amenities, including luxury spas with treatment rooms, saunas and hammams, fully equipped fitness gyms, swimming pools – indoors and outdoors – concierge services, security services, housekeeping, lush grounds, and dedicated parking spaces and storage space. The type of amenities will depend on the residence, with modern residences often boasting the most complete menu of amenities.
While the Principality of Monaco is one of the smallest countries in the world – second only to the Vatican – it boasts several vibrant districts. Monte-Carlo sits at the epi-centre of Monaco, known for the iconic Carre D’Or, home to the famed Monte-Carlo Casino with its stunning Belle Epoque architecture. The district of La Condamine, Monaco’s oldest district, is home to Port Hercules and the Farmers Market, while Larvotto is popular with families, thanks to its beautiful beach.
Prices can also vary between districts. Indeed, the 2022 Real Estate Observatory Report, published yearly by the Monegasque Institute of Statistics and Economic Studies, showed that Monte-Carlo was the most expensive district, with an average price per square metre of 59,9991 Euros. The least expensive district was Jardin Exotique, with an average price per square metre of 35,460 Euros.
Proximity to amenities
Another aspect you need to consider when you buy an apartment in Monaco is its proximity to amenities. Families will want to be within striking distance of schools, for example, while young professionals may wish to be in the centre of all the action, close to bars, restaurants and the hippest nightclubs.
Fontvieille is a popular residential district with families. It is home to multiple schools, including the British School of Monaco, a large shopping centre ideal for everyday amenities, including a large supermarket, and Monaco’s only heliport, providing quick and easy access to the Nice Cote d’Azur Airport.
For many investors buying property in Monaco, a panoramic sea view is always high on the wish list. Many properties in Monaco boast stunning views of the Mediterranean Sea and the coastline of the French Riviera, and the higher the floor, the more spectacular the views are likely to be. Almost all properties in Monaco will typically boast a terrace, with some properties featuring multiple terraces optimising al fresco living. Most residences in Monaco are multi-storey, with the highest residence being the ultra-luxurious Tour Odeon double skyscraper which soars some 170 metres into the sky. It goes without saying that the higher the floor, the more expensive the apartment is likely to be, with most residences capped off by sought-after penthouses.
There are multiple aspects to consider when you buy an apartment in Monaco. The best way to buy property in Monaco is to work with an experienced real estate agent with in-depth knowledge of the city-state’s fast-moving real estate market. They will be able to offer expert guidance on the key aspects you will need to consider and help you pick the property that is right for you.