DOCSLIB.ORG

Residential Insight New Developments Market Outlook

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Residential Insight New Developments Market Outlook SPOTLIGHT 2017 Residential insight New developments Market outlook 180% Resales price growth in the Principality over 10 years 4.3m Average resales price in Monaco in 2016 Savills_spotlight Monaco_Residential Market_p1_v2.indd 2 20/04/2017 14:32 FOREWORD Global hotspot Residential property in Monaco is now the world’s most expensive – however, transaction volumes are falling as the market reaches a sticking point Monaco is home to world-class sporting and entertainment events, successful sports teams Summary and a royal family. With a population of 38,400, it is a big country in miniature. Spoken about in the same Record year breath as the premier world cities, Monaco punches A record 2.7 billion of well above its weight on the global stage. e Principality is a low-tax centre of commerce residential property was with all the characteristics of a leisure destination. transacted in 2016. is makes it very appealing to high-net-worth individuals as a place to live, do business and play. High resales price The average resales price is Prices have adjusted in the now 41,400psm, the highest prime residential markets of in prime markets globally. many cities, yet Monaco’s New build premium have continued to rise There is a signifi cant premium for new build. Sales accounted for 6% At a time when prices have adjusted in the prime of transactions by number, residential markets of many world cities, prices in Monaco have continued to rise. In 2016, average but 17% by value. sales prices reached a record high of €41,400psm, overtaking Hong Kong to become the most expensive Market illiquidity residential real estate in the world. Lack of new supply and is comes as a number of high-pro le new illiquidity in the market developments have completed, although fewer are expected in the near term. Wealthy residents hold may dampen transaction their properties for long periods, so market liquidity volumes in the near term. is low. Monaco’s position on the global stage is assured, but owning a piece of it will be more Long-term planning di cult and come at an ever-higher price. Ambitious urban expansion and renewal projects will Paul Tostevin secure the Principality’s Associate Director +44 (0)20 7016 3883 long-term success. [email protected] savills.com/research 3 Savills_spotlight Monaco_Residential Market_p02-3_v1.3.indd 3 21/04/2017 13:44 RESIDENTIAL MARKET Setting new records on the global stage Residential property in Monaco is now the world’s most expensive. Large properties are in high demand and trade at a price premium, with the average resale price in 2016 up 180% in a decade WORDS PAUL TOSTEVIN record €2.7 billion of residential property and trade at a price premium. One-bedroom properties was transacted in 2016. is was the third averaged €36,300psm, compared to €48,500psm for year that total transactions exceeded four-bedroom and larger properties – a 33% premium. A €2 billion, with strong demand for limited Monaco attracts a diverse range of international product pushing prices to new highs. buyers seeking security, wealth preservation or a Residential property in Monaco is now the most business base. British, Italian, Scandinavian and expensive in the world. e average resale price in 2016 South African buyers were especially active last year. was €4.3 million or €41,400psm, up 180% in a decade Towards the end of 2016 and into 2017, market activity – a growth rate largely unseen in other developed slowed as buyers adopt a ‘wait and see’ approach ahead economies. By comparison, prime London prices grew of the elections in France (a major trading partner) and by 70% over the same period according to our World wider global political events. With prices at record Cities data. In common with other prime districts highs, wealthy vendors are unwilling to negotiate across the globe, large properties are in high demand down and transaction volumes are now falling. Monaco outperforms London prime Residential price growth since 2006 in euro terms 2016 high Prices reach 41,400, over twice 45,000 that of prime London 2009 dip in Euro terms Modest price falls in 40,000 Monaco in wake of GFC, one year after London’s similar dip 35,000 30,000 25,000 20,000 15,000 Prime price per square metre Key: Monaco London 10,000 (EUR) Prevailing EUR/GBP exchange rates 5,000 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Year Source Savills World Research and IMSEE 4 savills.com/research Savills_spotlight Monaco_Residential Market_p4-7_V5.indd 4 15/06/2017 10:14 RESIDENTIAL MARKET Market dashboard International Price league Savills World Research statistics on Prime and Ultra-Prime values per square metre 41,400 Monaco 100,100 39,100 Hong Kong Average€4.3 resalem 117,20 0 29,200 Tokyo price in 2016 41,300 London 17,6 0 0 45,200 16,700 New York 60,900 15,300 Shanghai Compound10.9% 25,900 11,900 Paris average annual 33,900 Moscow 11,700 price growth 46,700 10,200 since 2006 Singapore 13,900 6,100 Dubai 11,100 Key: Prime Ultra prime Transactions553 10-year prime price growth Monaco’s impressive in 2016 price growth eclipses other major cities Monaco Singapore Paris Moscow 180% 75% 32% 26% Total€2.7bn of residential property transacted Dubai -8% New York 45% €13.7m London Tokyo Average new-build 70% 13% Hong Kong Shanghai sales price in 2016 111% 248% Source IMSEE Source Savills World Research savills.com/research 5 Savills_spotlight Monaco_Residential Market_p4-7_V5.indd 5 15/06/2017 10:14 RESIDENTIAL MARKET RESIDENTIAL MARKET Small supply, high demand Monaco continues to face high demand from the world’s high-net-worth individuals, which is driving price growth and plans for new property development In comparison At just 2 sq km, Monaco Larvotto Average resale price 2016: 6.4m is the world’s second smallest country Palais de la Plage London's Hyde Park 15-storey development La Rousse replacing the oldest building Average resale price 2016: 3.3m in the Larvotto area Testimonio II Le Portier 156-unit residential development for Monégasque nationals This six-hectare land reclamation scheme will add 54,980sqm of Tour Giroflées habitable space, including 10 22-storey tower with 73 residential villas, 115 apartments and retail Monaco units and a fitness centre premises. Completion 2025 New development Tour Odéon In 2016, the average selling price Completed in 2016, this 49 storey, of new-build properties in Monaco 70-unit development contains a was €13.7 million – three times higher five-storey 3,300sqm penthouse than resale properties of a different (sometimes dated) specification. In total, only 553 properties were Monte Carlo sold in 2016. Of these, 33 were Average resale price 2016: 5m new-build – just 6% of the market. However, in terms of value, these La Petite Afrique properties represented 17% of the Les Moneghetti Completed at the end of market. New developments, such Average resale price 2016: 5.6m 2016, the building overlooks as Tour Odéon and La Petite Afrique, Monte Carlo Casino have brought property to Monaco Le Stella gardens and boasts seven that’s up to the standards of other Mixed-use scheme of two villas apartments of 400-700sqm major world cities. Designed to meet and 99 apartments, with retail La Condamine the demands of wealthy international and commercial space Average resale price 2016: 4.3m Sporting d’Hiver occupiers, the well-appointed, Designed by Richard spacious residential units offered Rogers, this redevelopment are priced accordingly. will contain six residential A large proportion of Monaco’s pavilions, plus commercial housing stock was developed in the and cultural space 1960s and 70s, and many of these properties are looking dated and 26 Carré D’or ripe for renewal and refurbishment. Monaco Ville A contemporary mixed-use In the next wave of development, Average resale price 2016: 1.6m development due to be international architects are raising completed in 2018 the design stakes – for example, La Jardin Exotique Petite Afrique, which was designed Average resale price 2016: 2.4m by Brazilian Isay Weinfeld, provides large apartments with ‘flow through’ terraces, while Sporting d’Hiver, a Fontvieille large mixed-use development that’s Average resale price 2016: 5.8m currently under construction on Le Méridien Golden Square, is designed by 14-storey residential and mixed-use British architect Richard Rogers. development completed in 2015 Civic buildings are getting the treatment, too: the new building for the Yacht Club de Monaco is by British firm Foster and Partners. 6 savills.com/research savills.com/research 7 Savills_spotlight Monaco_Residential Market_p4-7_V2.indd 6 20/04/2017 14:32 Savills_spotlight Monaco_Residential Market_p4-7_V3.indd 7 28/04/2017 11:20 ECONOMY THE DIVERSE ECONOMY CREATES A STRONG BASE A diverse economy that includes high-quality manufacturing and marine sciences, alongside finance and tourism, has helped Monaco develop a dynamic base Monaco’s economy is performing strongly. Average annual real GDP growth in the ve years to 2015 stood at 5.4%, outperforming the wider Eurozone, which grew by just 1.2% per annum over the same period. e Principality’s economy also grew faster than the Wealth infrastructure rival private wealth hotspots of Zurich, Geneva and Luxembourg, which had average ve-year GDP Monaco is home to the highest concentration of growth rates of 1.6%, 1.3% and 3.4% respectively. millionaires in the world. WealthInsight counts 31 At €166,000, GDP per capita is the second highest millionaires per 100 residents, an increase of 7% globally (just behind Liechtenstein).
Load more

Recommended publications
  • Inside-View-Monaco-2017-5094.Pdf
    INSIDE VIEW MONACO 2017 Overview Monaco market overview There are few places in the any more”, yet that is precisely UHNWIs expect. These properties world where one would what Monaco does, with its only offer the best value in Monaco, but consider buying off-plan opportunity for expansion to extend the price must be right to take into property eight years in into the sea. account the refurbishment costs, advance, but Monaco is far effort and time required to bring The latest 2bn land reclamation from typical. € them up to scratch. programme will see six hectares This glamorous pocket of the Côte of new land created from Sicilian Time is on the side of today’s d’Azur is unwaveringly desirable, sand. On it will sit 120 new high-end buyers in Monaco, however, with thanks to the superlative location, apartments whose prices will be the average age now 35-55, lifestyle and fiscal advantages it in excess of €100,000 per sq m – compared with the 55-60 plus offers. But it also has a minuscule which ultra prime stock in Monaco demographic of a decade or supply of new property and a limited is already achieving. Of those 120 so ago. They make the most of amount of land, which means that units, 50 have already been retained the good schools, the growing Monaco is a place where you need to by the developer, leaving just 70 to number of great restaurants and plan ahead. sell with several years to go until the year-round buzz. As a result, completion.
    [Show full text]
  • Residential Insight New Developments Market Outlook
    SPOTLIGHT 2017 Residential insight New developments Market outlook 180% Resales price growth in the Principality over 10 years 33 Margaret Street 4.3m London W1G 0JD Average resales price +44 (0)20 7499 8644 in Monaco in 2016 Savills_spotlight Monaco_Residential Market_p1_v2.indd 1 20/04/2017 14:32 Savills_spotlight Monaco_Residential Market_p1_v2.indd 2 20/04/2017 14:32 FOREWORD Global hotspot Residential property in Monaco is now the world’s most expensive – however, transaction volumes are falling as the market reaches a sticking point Monaco is home to world-class sporting and entertainment events, successful sports teams Summary and a royal family. With a population of 38,400, it is a big country in miniature. Spoken about in the same Record year breath as the premier world cities, Monaco punches A record 2.7 billion of well above its weight on the global stage. e Principality is a low-tax centre of commerce residential property was with all the characteristics of a leisure destination. transacted in 2016. is makes it very appealing to high-net-worth individuals as a place to live, do business and play. High resales price The average resales price is Prices have adjusted in the now 41,400psm, the highest prime residential markets of in prime markets globally. many cities, yet Monaco’s New build premium have continued to rise There is a signifi cant premium for new build. Sales accounted for 6% At a time when prices have adjusted in the prime of transactions by number, residential markets of many world cities, prices in Monaco have continued to rise.
    [Show full text]
  • Spotlight Monaco Residential Market 2015
    Savills World Research Monaco Residential Spotlight Monaco Residential Market 2015 savills.com/research 2015 Spotlight Monaco Residential Market 2014 was a record year for Monaco's residential markets. A weak euro offers buyer opportunities. EXECUTIVE SUmmARY elcome to our unique position as a hybrid centre second in- that incorporates not only commerce depth look at and ultra-wealth in a low-tax the residential jurisdiction but also a Mediterranean Prices are stable and Monaco remains property playground for the world’s wealthy. one of the world’s most expensive real Wmarket in Monaco. In this report estate markets. However, in US dollar we show how market activity and Aside from the clear parallels pricing is at an all-time high while with other world centres, Monaco terms the Principality has slipped to extraordinarily constrained land is a premier destination for gambling, second place behind Hong Kong, due supply means newly built property motor sport, yachting, recreation and to a weak euro. See page 5 is extremely rare and at a premium relaxation. This combination, right on so only the ultra prime market and Europe’s doorstep, sets it apart from the world’s wealthiest are now almost any other city or state. Only catered for in the Principality. Macau, on the doorstep of China is beginning to come close but the Monaco has the highest GDP per attractions of the South China Sea are For the global super rich, Monaco head of any population in the world. not the same as the Mediterranean. operates as part of a network of city It is one of a handful of global elite In the longer term, Gibraltar has the city-states and, in this respect, has potential perhaps to be a regional property holdings.
    [Show full text]
  • 8235 79.Pdf 2,48 MB
    SECTEUR DES QUARTIERS ORDONNANCES - Quartier de la Condamine - Quartier de Fontvieille - Quartier du Jardin exotique - Quartier du Larvotto - Quartier des Moneghetti - Quartier de Monte-Carlo - Quartier de la Rousse REGLEMENT D’URBANISME Annexé à l’Ordonnance Souveraine n° 4.482 du 13 septembre 2013, modifiée ANNEXE AU “JOURNAL DE MONACO” N° 8.235 DU 24 JUILLET 2015 2 JOURNAL DE MONACO Vendredi 24 juillet 2015 ANNEXE N° 1 ✓ le Parc (zone n° 2) ; DISPOSITIONS GÉNÉRALES APPLICABLES ✓ les Révoires (zone n° 3) ; À L’ENSEMBLE DU SECTEUR ✓ la Colle (zone n° 4). DES QUARTIERS ORDONNANCÉS 2.4 - Le quartier du Larvotto est divisé en quatre RU-ZQ-GEN-V3D zones : introduite par l’Ordonnance Souveraine n° 4.482 ✓ le Portier (zone n° 1) ; du 13 septembre 2013, modifiée ✓ les plages (zone n° 2) ; ✓ le terre-plein du Larvotto (zone n° 3) ; CHAPITRE PREMIER ✓ L’Anse du Portier (zone n° 4). CHAMP D’APPLICATION ET DÉFINITIONS 2.5 - Le quartier des Moneghetti est divisé en deux ARTICLE PREMIER zones : Champ d’application territorial ✓ les Carrières / Malbousquet (zone n° 1) ; Les présentes dispositions s’appliquent à l’ensemble ✓ les Agaves (zone n° 2). du secteur des quartiers ordonnancés. Les dispositions particulières et les plans de coordination 2.6 - Le quartier de Monte-Carlo est divisé en cinq correspondants, pris pour chaque quartier ordonnancé, zones : visés aux annexes n° 4 et suivantes, peuvent, selon le cas, préciser, compléter ou se substituer aux présentes ✓ la Source / Costa (zone n° 1) ; dispositions générales. ✓ les Fleurs (zone n° 2) qui comprend deux îlots ; ART . 2. ✓ l’Hermitage (zone n° 3) ; Division des quartiers ordonnancés en zones et, ✓ Casino / Boulingrins (zone n° 4) qui comprend deux îlots ; le cas échéant, en îlots ✓ les Moulins (zone n° 5).
    [Show full text]
  • Spotlight Monaco Residential Market 2015
    Savills World Research Monaco Residential Spotlight Monaco Residential Market 2015 savills.com/research Notes about the publication This document was published in April 2015. The data used in the charts and tables is the latest available at the time of going to press. Sources are included for all the charts. 2015 Spotlight Monaco Residential Market 2014 was a record year for Monaco's residential markets. A weak euro offers buyer opportunities. EXECUTIVE SUmmARY elcome to our unique position as a hybrid centre second in- that incorporates not only commerce depth look at and ultra-wealth in a low-tax the residential jurisdiction but also a Mediterranean Prices are stable and Monaco remains property playground for the world’s wealthy. one of the world’s most expensive real Wmarket in Monaco. In this report estate markets. However, in US dollar we show how market activity and Aside from the clear parallels pricing is at an all-time high while with other world centres, Monaco terms the Principality has slipped to extraordinarily constrained land is a premier destination for gambling, second place behind Hong Kong, due supply means newly built property motor sport, yachting, recreation and to a weak euro. See page 5 is extremely rare and at a premium relaxation. This combination, right on so only the ultra prime market and Europe’s doorstep, sets it apart from the world’s wealthiest are now almost any other city or state. Only catered for in the Principality. Macau, on the doorstep of China is beginning to come close but the Monaco has the highest GDP per attractions of the South China Sea are For the global super rich, Monaco head of any population in the world.
    [Show full text]
  • Secteur Des Quartiers Ordonnancés • Quartier De La Condamine • Quartier De Monte-Carlo
    SECTEUR DES QUARTIERS ORDONNANCÉS • QUARTIER DE LA CONDAMINE • QUARTIER DE MONTE-CARLO RÈGLEMENT D’URBANISME Annexe à l’Ordonnance Souveraine n° 8.508 du 19 février 2021 ANNEXE AU « JOURNAL DE MONACO » N° 8.527 DU 26 FÉVRIER 2021 Vendredi 31 janvier 2020 JOURNAL DE MONACO 3 ANNEXE N° 1 2.3 - Le quartier du Jardin Exotique est divisé en quatre zones : DISPOSITIONS GÉNÉRALES APPLICABLES À L’ENSEMBLE DU SECTEUR DES ✓ les Salines (zone n° 1) ; QUARTIERS ORDONNANCÉS ✓ le Parc (zone n° 2) ; RU-ZQ-GEN-V9D ✓ les Révoires (zone n° 3) ; introduite par l’Ordonnance Souveraine n° 4.482 du ✓ la Colle (zone n° 4). 13 septembre 2013, modifiée 2.4 - Le quartier du Larvotto est divisé en quatre CHAPITRE PREMIER zones : CHAMP D’APPLICATION ET DEFINITIONS ✓ le Portier (zone n° 1) ; ✓ les plages (zone n° 2) ; ARTICLE PREMIER ✓ le terre-plein du Larvotto (zone n° 3) ; Champ d’application territorial ✓ L’Anse du Portier (zone n° 4). Les présentes dispositions s’appliquent à l’ensemble du secteur des quartiers ordonnancés. Les dispositions 2.5 - Le quartier des Moneghetti est divisé en deux particulières et les plans de coordination correspondants, zones : pris pour chaque quartier ordonnancé, visés aux annexes n° 4 et suivantes, peuvent, selon le cas, ✓ les Carrières / Malbousquet (zone n° 1) ; préciser, compléter ou se substituer aux présentes dispositions générales. ✓ les Agaves (zone n° 2). ART. 2. 2.6 - Le quartier de Monte-Carlo est divisé en cinq zones : Division des quartiers ordonnancés en zones et, le ✓ cas échéant, en îlots la Source / Costa (zone n° 1) ; ✓ les Fleurs (zone n° 2) qui comprend deux îlots ; 2.1 - Le quartier ordonnancé de la Condamine est divisé en deux zones : ✓ l’Hermitage (zone n° 3) ; ✓ le quartier du Port (zone n° 1) qui comprend deux îlots ; ✓ Casino / Boulingrins (zone n° 4) qui comprend deux îlots ; ✓ le Port Hercule (zone n° 2) qui comprend trois îlots.
    [Show full text]
  • Residential Insight New Developments Market Outlook
    SPOTLIGHT 2017 Residential insight New developments Market outlook 180% Resales price growth in the Principality over 10 years 4.3m Average resales price in Monaco in 2016 Savills_spotlight Monaco_Residential Market_p1_v2.indd 2 20/04/2017 14:32 FOREWORD Global hotspot Residential property in Monaco is now the world’s most expensive – however, transaction volumes are falling as the market reaches a sticking point Monaco is home to world-class sporting and entertainment events, successful sports teams Summary and a royal family. With a population of 38,400, it is a big country in miniature. Spoken about in the same Record year breath as the premier world cities, Monaco punches A record 2.7 billion of well above its weight on the global stage. e Principality is a low-tax centre of commerce residential property was with all the characteristics of a leisure destination. transacted in 2016. is makes it very appealing to high-net-worth individuals as a place to live, do business and play. High resales price The average resales price is Prices have adjusted in the now 41,400psm, the highest prime residential markets of in prime markets globally. many cities, yet Monaco’s New build premium have continued to rise There is a signifi cant premium for new build. Sales accounted for 6% At a time when prices have adjusted in the prime of transactions by number, residential markets of many world cities, prices in Monaco have continued to rise. In 2016, average but 17% by value. sales prices reached a record high of €41,400psm, overtaking Hong Kong to become the most expensive Market illiquidity residential real estate in the world.
    [Show full text]
  • Monaco's Building Boom Spreads on to Land
    Monaco’s building boom spreads on to land reclaimed from the sea Last year saw the largest number of new homes ever built in the tiny city-state Luke June 28, 2018 Monaco sunset viewed from La Turbie © Getty In a state with one of the world’s highest concentrations of ultra-high net worth individuals, talk of a housing crisis may stick in the throat. Nonetheless, Monaco, the city-state on France’s Mediterranean coast a little more than half the size of New York’s Central Park, is in the midst of one. Around 20 per cent of Monaco’s 37,550 population (known as Monégasques) are locally born natives. With roughly one in 50 Monaco residents worth more than $30m, according to Wealth X, there are few remotely affordable homes for the rest to pick from. Average prime sale prices in the last year were roughly €41,300 per square metre, according to Savills — nearly three times the average price for New York. “The property that exists is not suitable for young Monégasques. They can’t afford to rent and they certainly can’t afford to buy,” says Nancy Heslin, until last month editor-in-chief of Monaco Life, a local English news website. The longstanding problem has become more acute in recent years, as the supply of available land has all but disappeared, she says. “Supplying affordable housing has become the main priority of the new governing council elected in February”. View of the harbour © Getty Last year saw the largest number of new homes ever built in Monaco in a single year, according to Savills.
    [Show full text]
  • Larvotto La Ruée Sur L’Eau
    4,00 € CIRCULATION LA FIN DES BOUCHONS ? I MIGRANTS LES LAISSÉS-POUR-COMPTE EXPOSITION LA FASCINATION BACON I IN ENGLISH MONACO COLONISES THE SEA ESPLANADE UN NOUVEAU QUARTIER SUR LE PORT LARVOTTO LA RUÉE SUR L’EAU R 28240 - F : 4,00 € Numéro 155 - Juillet-Août 2016 - www.lobservateurdemonaco.mc Crédit photo : Real Estate Caroli Group - Tous droits réservés. droits Tous - Group Caroli Real Estate : photo Crédit EXCLUSIVITÉ RÉSIDENCE « LE VALLESPIR » - 2/3 PIÈCES - 3 500 000 € Boulevard du Larvotto, Monaco Face à la mer, au 4ème étage avec ascenseur, un appartement de 80 m2, comprenant une grande entrée, un grand salon avec cuisine équipée, une chambre avec salle de bain et son dressing, toilettes séparés. Toutes les pièces donnent sur la terrasse. Rénovation réalisée avec matériaux de grandes qualités. Calme et belle luminosité. Parking dans l’ immeuble. RÉF : V2017 Membre de la Chambre Immobilière Monégasque REAL ESTATE CAROLI GROUP 27, boulevard d’Italie - MC 98000 Monaco - Tél. +377 93 25 51 22 - Fax +377 92 16 17 00 email : [email protected] - caroli-realestate.com MÉTAMORPHOSE our Monaco, qui vit déjà au rythme tion, le gouvernement a validé d’autres mutations. Côté des pelleteuses avec la réalisation d’un mer, sous la responsabilité de l’opérateur du chantier nouvel hôpital et des chantiers pharao- du Portier, Renzo Piano doit proposer des projets de niques de la SBM place du casino, c’est (à réhabilitation du Larvotto. Sa mission : proposer une nouveau) l’heure de la métamorphose. vision urbanistique de ce quartier (du Méridien au Fair- Sous l’ère de Rainier III, alias le “prince mont), qui a tant besoin d’être rénové.
    [Show full text]
  • Monaco Insight 2017 Analysis of Monaco’S Prime Residential Market
    RESIDENTIAL RESEARCH MONACO INSIGHT 2017 ANALYSIS OF MONACO’S PRIME RESIDENTIAL MARKET SALES BY NEIGHBOURHOOD PRICE ANALYSIS FUTURE INVESTMENT MONACO INSIGHT 2017 RESEARCH Hot property Monaco remains at the top of global wish lists. By 2026 the Principality will be home to 16,100 millionaires and 1,450 ultra high net worth individuals. No other city in the world boasts the same work as the lack of supply starts Not only does Monaco play host to to reduce traffic congestion around wealth density as Monaco. to pinch. Many of these buyers are more than 850,000 overnight tourists Jardin Exotique. long-established Monaco residents per annum, but more than 50,000 Work has also recommenced on employees commute into Monaco By Kate Everett-Allen looking for an investment, aware Le Portier project, but perhaps most from France and Italy each day. To that new arrivals often prefer to significant is the new Ilot Pasteur keep pace with this influx, public rent before deciding where to buy. regeneration project which, by 2021, investment is being ploughed into Monaco has led our annual global Shrewd investors are also aware will deliver a new home for Charles III Monaco’s infrastructure, leisure and comparison of residential values of the lack of market liquidity in College, a media library and concert since 2008 and prices continue MONACO IN NUMBERS retail facilities. Monaco – the wealthy remain hall. The €220m scheme will provide to drift higher. Luxury residential discretionary vendors – meaning Aside from the 2014 upgrade of better links between Condamine and prices in Monaco reached 53,000 € such investors can rely on Monaco’s Yacht Club, the new €107m Fontvieille and add a new funicular per sq m in the second quarter of long-term tenants.
    [Show full text]
  • Spotlight Monaco Residential Market 2016 Ultra Prime Monaco Remains an Attractive Destination for the Global Wealthy
    Savills World Research Monaco Residential Spotlight Monaco Residential Market 2016 ULTRA PRIME Monaco remains an attractive destination for the global wealthy savills.com/research Notes about the publication This document was published in May 2016. The data used in the charts and tables is the latest available at the time of going to press. Sources are included for all the charts. 2016 Spotlight Monaco Residential Market High demand for prime property meets with low supply in an extremely limited land area EXECUTIVE SUmmARY onaco continues to traded each year, meaning that the be an exceptionally average Monégasque home changes attractive location hands only once every 37 years. for the global This compared to prime London Monaco is attractive to a broad base of wealthy and has properties, for example, where the Mall the key ingredients for real estate norm is nearer once every 20 years. global occupiers and investors. Prime residential price growth. is in high demand. At a global level only Against this low annual supply Hong Kong rivals it on pricing. A very strong local economy of resale properties, new builds in See page 05 employs more people than can be Monaco are a drop in the ocean. physically accommodated within A mere 3.5% of transactions the city state. High demand for between 2010 and 2015 were both residential and commercial newly built apartments. Only a space meets with low supply in an handful of new apartments are extremely limited land area. earmarked for delivery in 2016 so Median residential prices grew by 5% in the supply shortage will appear 2015 to €2.1m.
    [Show full text]
  • 1/4000 Principaute De Monaco
    Commune de BF 28 Roquebrune Cap Martin BF 26 (disparue) BF 27 (disparue) BF 29 BF 30 Secteur réservé du ravin BF 24 BF 25 BF 31 BF 23 de SAINTE - DEVOTE BF 22 BF 21 L'Annonciade BF 35 Commune de Beausoleil LA ROUSSE BF 34 BF 16 Zone 1 BF 33 Commune de la Turbie BF 17 BF 15 BF 7 BF 12 BF 11 BF 9 Saint Roman BF 13 BF 8 BF 6 BF 5 Carrières / BF 14 Zone 2 Malbousquet Ilot 1 BF 19 Zone 1 B.F Les Révoires BF 18 Les Plages Commune de Cap d'Ail La Source / Les Moulins Zone 3 LES MONEGHETTI Les Fleurs Zone 2 ex BF A Zone 5 Laisse des Eaux Mai 2002 39 Costa Laisse des Eaux Mai 2002 Terre-Plein Zone 1 Zone 2 Ilot 2 LARVOTTO Les Agaves du Larvotto Zone 2 Le Portier Zone 3 BF 3 Zone 1 BF 4 Ilot 1 Le Parc La Colle MONTE-CARLO Les Salines Zone 2 Zone 4 L'Hermitage Zone 1 Maison Noirel 127 BF 2 JARDIN EXOTIQUE Zone 3 Quartier du Port Casino / Boulingrins Zone 1 Ilot 3 Zone 4 Ilot 1 L'Anse du Portier Ilot 2 7290 Ilot 2 Ilot 2 Zone 4 LA CONDAMINE Ilot 2 BF B Zone d'activités Zone 1 Direction de la Prospective, de l'Urbanisme et de la Mobilité Gouvernement Princier Ilot 1 PRINCIPAUTÉ DE MONACO 1355 242 Port Hercule Zone 2 FONTVIEILLE PRINCIPAUTE DE MONACO Port de Fontvieille Zone 4 Ilot 1 Zone d'habitat MONACO1 - VILLE Zone 2 Zone d'habitat Référence Objet N° Indice Date PLAN DE ZONAGE DU SECTEUR Zone 2 OS n° 4482 du 13 / 09 / 2013 Emission du plan - 14 / 10 / 2013 DES QUARTIERS ORDONNANCES Ilot 1 OS n° 5267 du 26 / 03 / 2015 Modification de secteurs à l'étude, 1 07 / 04 / 2015 Zone Suppression secteurs à l'étude LVT Z2 d'équipements Suppression de la zone
    [Show full text]