Monaco remains world’s most expensive property market
Monaco continues to top global real estate rankings, with $1 million buying just 16 square metres and record-breaking luxury sales pushing prices even higher.
Monaco has once again confirmed its position as the world’s most expensive real estate market, with new figures showing that $1 million buys just 16 square metres of property in the Principality.
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According to a recent report, this is significantly less space than in other global cities, where the same budget would secure around 23 square metres in Hong Kong and roughly 28 square metres in Geneva or Singapore.
The limited size highlights the extreme pressure on space in Monaco, where land is scarce and demand remains exceptionally high.
The market has also seen a record-breaking transaction, with a luxury residence reportedly sold for more than $550 million.
The property, located in the Mareterra coastal development, spans around 2,500 square metres and includes high-end amenities such as a private pool, jacuzzi and multiple parking spaces.
Experts say Monaco’s unique combination of limited land availability, strict planning rules and a high concentration of ultra-wealthy residents continues to drive prices to levels unmatched anywhere else in the world.