The Real Deal New York

Monaco’s housing prices just keep on growing

The tiny state is now the second most expensive location in the world
May 30, 2015 12:00PM

Monaco’s real estate market is booming, with the principality having seen record sales last year. And it looks like even more record sales are on their way.

Since the recession, the cumulative value resales in Monaco have jumped a massive 109 percent, with most of that growth taking place in 2014, according to Forbes. That translates to roughly 555 transactions in 2014.

And despite Monaco’s extremely limited stock of newly-built housing, new build sales reached a total of €345 million, the highest figure since 2006.

The consequence of last year’s boom is that Monaco is now the second most expensive location in the world after Hong Kong, according to Forbes. And with housing in short supply, analysts expect prices to continue to rise in this year. [Forbes]Christopher Cameron