Research article

The Outlook for Monaco's Residential Markets

New developments and sustained demand from global UHNWIs will drive price growth.

World cities cool: World city ultra-prime is cooling, but Monaco’s restricted supply and retreat characteristics means it should fare better. Prices in the Principality are static and we expect them to remain stable given limited new development and sustained demand.

Brand Monaco: Monaco’s high global profile gives it a cache among the global wealthy that will underpin demand over the long term. Monaco’s history and heritage is something that the competition in emerging enclaves just can’t replicate.

Wealth creation: As a ‘safe haven’ real estate market, new wealth created in emerging economies is already flowing to stable markets of Europe and North America, into key world cities and centres including Monaco. Monaco’s internationally cooperative stance means its status as a low tax jurisdiction appears secure.

Heritage: Monaco enjoys a rich cultural and built heritage. To date, it has been Monaco Ville’s historic architecture that has been protected and celebrated. But much of Monaco is characterised from development in the 1960s and 70s and we anticipate the best buildings from this era being preserved and promoted in future.

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