Overview of the Observatoire de l’immobilier 2025
The Observatoire de l’immobilier 2025, produced by the Institut Monégasque de la Statistique et des Études Économiques (IMSEE), presents a comprehensive analysis of Monaco’s private residential market. IMSEE, the official statistical office of Monaco, compiles data from the Division of Mortgages at the Directorate of Tax Services, ensuring that the figures reflect all notarial transactions for private housing. The study focuses on transactions from the past decade, with particular emphasis on the year 2025, and highlights trends relevant to sustainable housing across Europe.
Market Volume and Transaction Types
In 2025 Monaco recorded 493 total residential transactions, comprising 64 sales (first‑time transfers within five years of construction) and 429 resales. This represents a 5.8 % increase in overall transaction volume compared with 2024. Sales declined by 36.6 % in number but the total sales value fell by 29.1 % to €2.6 billion, while resale value rose by 49.1 % to €3.2 billion, keeping the combined market value stable at €5.9 billion.
New Housing Supply and Sustainability Implications
The report notes 103 new private dwellings completed in 2025, a modest increase over 2024. Over 40 % of total residential floor area remains concentrated in Monte‑Carlo and La Rousse, indicating limited spatial dispersion. The concentration of new construction in high‑density urban zones aligns with sustainable urban planning goals by reducing sprawl and preserving open land, although the study does not quantify energy performance or carbon footprints.
Price Evolution and Affordability
Average price per square metre reached €57 569 in 2025, a slight 1.4 % decline from the previous year but still among the highest in Europe. The Larvotto district broke the €70 000 per m² threshold, reaching €71 167, while Monte‑Carlo averaged €54 009. Prices for larger units remain elevated; 35 transactions exceeded €20 million, accounting for 54.7 % of sales, and five sales surpassed €100 million. The median sale price was €21.2 million, reflecting a market dominated by high‑value properties.
Resale Dynamics and Market Stability
Resales grew by 17.5 % to 429 units, with Monte‑Carlo leading at 164 transactions, followed by La Rousse (100) and La Condamine (44). The total resale value rose by €1 billion, driven by higher‑priced assets and increased activity in the luxury segment. The number of resales above €20 million reached 22, a record for the observatory, highlighting the concentration of wealth in the market.
Energy‑Efficient Buildings and Future Outlook
While the report does not provide explicit data on energy efficiency, the emphasis on newly delivered private housing suggests opportunities for incorporating sustainable construction standards. The shift toward high‑end, newly built units could facilitate the adoption of low‑carbon building materials, renewable energy integration, and smart‑home technologies, aligning Monaco’s housing stock with broader European sustainability targets.
Key Quantitative Highlights
- Total transactions 2025: 493 (64 sales, 429 resales)
- New private dwellings 2025: 103
- Average price /m² 2025: €57 569 (Larvotto €71 167)
- Total sales value 2025: €2.6 billion (‑29.1 %)
- Total resale value 2025: €3.2 billion (+49.1 %)
- Transactions > €20 million: 35 (sales), 22 (resales)
Conclusion for Sustainable Housing Stakeholders
The Observatoire de l’immobilier 2025 provides a detailed snapshot of Monaco’s ultra‑luxury residential market, characterised by high price levels, a strong resale sector, and modest new‑build activity concentrated in central districts. For pan‑European audiences interested in sustainable housing, the data underline the importance of integrating energy‑efficient design into new developments and of monitoring price pressures that may affect the broader affordability and environmental performance of urban housing.