District Le Carré d'Or

The Carré d'Or in Monaco: a luxury district and exceptional real estate

The Carré d'Or of Monaco is one of the most prestigious and iconic districts of the Principality, a true symbol of luxury and elegance. Nestled in the heart of Monte-Carlo, this micro-district organized around the famous Place du Casino attracts an international clientele in search of exclusivity and a unique art of living. Our agency specialises in the rental of apartments in the Carré d'Or district and the sale of exceptional properties in the Carré d'Or, offering you tailor-made and confidential support to make your real estate project a reality in this emblematic area of Monaco. A true jewel of the Principality, the Carré d'Or brings together the best addresses in terms of real estate, haute couture, gastronomy and entertainment, in an environment where prestigious entertainment rubs shoulders with a rare quality of life. Its attractiveness rivals that of other renowned districts such as Larvotto or Fontvieille, each offering a unique setting and atmosphere. The recent Mareterra extension, which redesigns the Monegasque coastline, also contributes to strengthening the attractiveness and modernity of the Principality by offering exceptional real estate.

This article invites you to understand what makes the Carré d'Or such a coveted place, while discovering the emblematic districts of Monaco such as Monaco-Ville, the historic Rock or La Condamine. We will explore its strategic location, fascinating history, the incomparable quality of life it offers on a daily basis, as well as local real estate market trends, including prices per square meter and investment prospects, essential information for moving to Monaco and make your real estate project a success. To go further in your real estate project or to better understand the unique setting offered by the Principality, you can consult our detailed guide which will allow you to know everything about the Principality of Monaco, its history, how it works and its specificities. You will also discover the economic, cultural and fiscal assets that make Monaco an exceptional place to live or invest.

If you are thinking of taking the plunge, it is essential to know the conditions for living there in order to prepare your installation in the best conditions and anticipate the necessary administrative procedures. For those who wish to settle permanently, we also detail the steps to become a Monegasque resident, a process that opens the door to many advantages of living in the Principality. Finally, to refine your project and explore the real estate opportunities available to you, we provide you with the complete list of buildings in Monaco, an essential tool to discover the variety of residences available and find the property that perfectly meets your expectations.

Strategic location and unique setting

The Carré d'Or occupies a strategic position in the centre of Monaco, more precisely in the heart of the Monte-Carlo district. It is bounded by several prestigious thoroughfares, including the Avenue des Beaux-Arts, the Avenue de la Costa and the Avenue Princesse Grace. In practice, this is the immediate surroundings of the Place du Casino, including the Casino gardens and the adjacent streets where palaces, luxury boutiques and luxury residential buildings are concentrated.

Being a resident of the Carré d'Or means having the best of Monaco on your doorstep : gourmet restaurants, high-end fashion brands, casinos and cultural venues are all within walking distance. Despite this effervescence, the neighborhood maintains a safe, clean, and impeccably maintained atmosphere, offering an elegant serenity unique to Monaco. Many residences also enjoy a breathtaking view of the Mediterranean Sea, a reminder at all times of the exceptional coastal setting in which the Principality is located.

Another notable asset: the Carré d'Or is directly bordered by emblematic sites such as the Casino de Monte-Carlo and its gardens, a real oasis of exotic greenery in the city centre. To the south, the terraces of the Casino and the coastline offer breathtaking maritime panoramas. To the west are the Carré du Portier (new Mareterra district) and the famous Fairmont Corner on the Formula 1 Grand Prix circuit. Moreover, the Monaco Grand Prix route passes partly on the edge of the Carré d'Or, offering the inhabitants a privileged point of view on the race during this world-famous event. In short, the location of the Carré d'Or combines accessibility, prestige and an idyllic setting – a rarity that greatly contributes to its value.

A prestigious historical and cultural heritage

If the Carré d'Or shines today with its luxurious modernity, it is no less steeped in history. It was around Monte-Carlo that Monaco's destiny changed in the 19th century, thanks in particular to the opening of the Casino de Monte-Carlo in 1863 at the instigation of François Blanc and Prince Charles III. This legendary casino, which is still in operation, quickly attracted the European elite and contributed to the prosperity of the Principality. Around the Place du Casino, sumptuous Belle-Époque buildings have been erected, marking the historic character of the district. For example, the Hôtel de Paris and its mythical wine cellars, inaugurated in 1864, sits on the square and has embodied Monegasque luxury for more than 150 years. Similarly, the Opéra Garnier (located in the extension of the Casino) and the Hôtel Hermitage, with its 1900 architecture, bear witness to the rich cultural and architectural heritage of the Carré d'Or.

Over the course of the twentieth and early twenty-first centuries, the Carré d'Or has been able to evolve without losing any of its luster. Bold modern constructions have emerged here, such as One Monte-Carlo, an ultra-modern complex completed in 2019 that houses luxury boutiques, offices and exclusive residences. This harmonious mix of old and new gives the district a unique charm, where the heritage of old Monaco coexists with contemporary architectural innovation. Walking through the Carré d'Or means coming across both beautifully preserved historic facades and recent buildings with futuristic amenities, all within a radius of only a few hundred meters.

Luxury and lifestyle in everyday life

The reputation of the Carré d'Or is based above all on an unparalleled luxurious art of living . The district is home to an incredible density of prestigious establishments and high-end services that delight its residents and visitors alike.

• Palaces and renowned hotels: In addition to the emblematic Hôtel de Paris and Hôtel Hermitage already mentioned, the Carré d'Or has other 5-star establishments such as the Métropole Monte-Carlo, renowned for its Belle Époque architecture and its adjoining luxury shopping centre. These palaces offer not only exceptional accommodation for a demanding international clientele, but also popular bars, spas and lounges that are an integral part of Monegasque social life.

• Luxury shopping: The Carré d'Or is a true paradise for lovers of high-end shopping. On the Promenade Princesse Charlène (a tree-lined pedestrian walkway in the One Monte-Carlo complex) and the surrounding avenues, there is a bed of boutiques from the biggest fashion and jewellery brands. Brands such as Hermès, Chanel, Louis Vuitton, Cartier, Gucci – to name but a few – have flagship stores here. This concentration of luxury houses makes the Carré d'Or a world-class shopping destination, reflecting the elegance and prestige of Monaco.

• Gastronomy and entertainment: The district will also delight gourmets. It is home to several gourmet restaurants including the legendary Louis XV – Alain Ducasse (3 Michelin stars) at the Hotel de Paris, which offers fine Mediterranean cuisine in a majestic setting. Let's also mention Le Grill (1 Michelin star) perched on the 8th floor of the same hotel, offering a panoramic view of the bay. For a different atmosphere, the Buddha-Bar in Monte-Carlo offers cocktails and dinners in a very popular exotic lounge setting. As for entertainment, the Casino de Monte-Carlo is of course a major attraction with its gaming tables and Belle Époque lounges open every evening. Finally, cultural and social events punctuate the year in this area (charity balls, exhibitions at the Galerie des Arts, etc.), ensuring a rich and lively social life.

In short, the Carré d'Or offers an exceptional quality of life where everything is within walking distance of a small radius: relax in the gardens of the Casino, window shop with luxury designers, dine in Michelin-starred restaurants, try your luck at the Casino or enjoy a drink on the terrace while admiring the sports cars passing by the square. This unique combination of factors contributes to an incomparable living experience, prized by an international elite of celebrities, business leaders, and figures from the business and financial worlds. Living in the Carré d'Or is not only about having a prestigious address; It's about adopting a lifestyle apart, in the heart of one of the most refined places on the planet.

Real estate: a hyper-exclusive market with record figures

The Carré d'Or is not only a tourist hotspot, it is also the most expensive and exclusive residential area in Monaco, and therefore one of the most expensive in the world. The properties there – mainly luxury apartments, penthouses and a few offices – reach stratospheric prices per square metre. To give you an idea, the average resale price in Monaco was around €51,000 per square metre in 2023, already a historical record for the Principality. But at the Carré d'Or in particular, the values go far beyond that: according to market indicators, it is estimated that there is a common range of around €44,000 to €100,000 per m² in this privileged area, with some exceptional properties that can even exceed this symbolic threshold of €100,000 /m². In other words, a simple studio in the Carré d'Or can easily be negotiated for more than 2 million euros, while family apartments and penthouses often sell for tens of millions of euros.

It is therefore not surprising that with such figures, Monaco retains its title as the most expensive real estate market on the planet, ahead of metropolises such as Hong Kong or New York. According to Knight Frank's Wealth Report , $1 million buys only about twenty square meters of luxury property in the Principality, highlighting the cramped space for a given price. The Carré d'Or, by virtue of its prestige, is at the top of this price pyramid.

Why such prices? Several structural factors explain this. First, Monaco is an extremely limited territory (2 km²) and the Carré d'Or represents only a tiny portion of it, which makes each plot of land particularly rare. Second, the demand for this neighborhood is global and permanent: billionaires, international investors and affluent residents are literally vying for the few properties that are available there, whether for sale or rent. This tension between ultra-limited supply and very strong demand is keeping prices at exceptionally high and tense levels. In addition, buying a home in the Carré d'Or is often perceived as a status symbol and a safe investment in the long term. Indeed, the history of the market shows a continuous appreciation of values: in Monaco, the average price per m² has increased by +38% over the last decade (2013-2023), and despite some annual variations, the general trend remains upward. The Carré d'Or, by virtue of its attractiveness, fully benefits from this valuation over time.

For investors, buying in this area can offer attractive rental returns in view of the prestige of the location. While gross rates of return seem modest compared to other markets (rents, while very high, are proportional to exorbitant purchase prices), the investment security is exceptional. The properties of the Carré d'Or find takers quickly, and rental vacancies are almost nil thanks to the permanent influx of wealthy clients looking to stay in the Principality. In addition, Monaco offers an advantageous tax framework and great economic and political stability, all factors that reassure investors about the sustainability of their investment. Investing in the Carré d'Or is therefore not only about acquiring a prestigious home, it is also about choosing a liquid and solid real estate asset, whose value is likely to be maintained or even increase over time.

Finally, to illustrate the excesses of the local market, we can mention some of the emblematic residences of the Carré d'Or that embody Monegasque real estate excellence:

• Le Mirabeau Monaco: From the top of its 33 floors, Le Mirabeau is a sumptuous tower that is located on the course of the F1 Grand Prix circuit. The Mirabeau offers many prestigious services. A green wall gives freshness to this ensemble, built in a modernist architectural style in 1973. 
• The Park Palace Monaco: The Park Palace is a building that rises to 81 meters. Modern in style, it is just a few minutes from the sumptuous Place du Casino. Other famous buildings are nearby such as the Opéra Garnier and the Café de Paris. It offers a private swimming pool, a car park and a shopping centre nearby. 
• The Monte Carlo Star: The Monte Carlo Star is a 7-storey building that faces the sea. Among the prestigious services, discover a private swimming pool and a concierge service available 24 hours a day. It is ideally located between the terraces of the Casino and the Monegasque coast. This ensemble offers breathtaking maritime panoramas. Its immediate proximity to the Yacht Club de Monaco is very much appreciated by its inhabitants.
• One Monte Carlo: One Monte Carlo has 24 shops. It consists of 37 apartments enhanced by modern architecture, combining space and light. It is crossed by the new Princess Charlene Promenade, which is planted with trees and therefore offers a feeling of greenery.
• The Sun Tower Monaco: The Sun Tower is a prestigious residence with a concierge service. The views offer panoramas of the Rock, the sea and the Golden Square. It is the ideal place to find a property with an optimized space. It is close to the most famous gourmet restaurants.

Frequently Asked Questions (FAQs)

Q: What is the Carré d'Or in Monaco?
A: The Carré d'Or is the most prestigious district of Monaco, located in the heart of Monte Carlo around the Place du Casino. It is an area that includes luxury hotels, haute couture boutiques, Michelin-starred restaurants and the most exclusive residences in the Principality. Synonymous with luxury and elegance, it is sometimes nicknamed "Golden Square" in English because of its opulence. This district is not an official administrative division, but a very restricted geographical area whose name refers to the concentration of wealth and prestigious places in a square of only a few streets.

Q: What are the property prices in the Carré d'Or?
A: The Carré d'Or real estate is among the most expensive in the world. In Monaco in general, the average price of old apartments is already around €50,000 per square meter (€51,418/m² in 2023 according to IMSEE, the official statistical institute). In the Carré d'Or in particular, average prices are even higher: it is estimated that they generally range between ~€40,000 and €100,000 per m², with sales sometimes exceeding the latter figure for exceptional properties. For example, a 100 m² apartment in this district can easily reach 8 to 10 million euros (or even more depending on the building, the floor, the sea view, etc.). Renting a luxury two-room apartment can cost several tens of thousands of euros per month. These amounts can be explained by the very strong international demand and the extreme scarcity of housing supply in this ultra-exclusive sector.

Q: Why invest or live in the Carré d'Or of Monaco?
A: Investing or living in the Carré d'Or means above all benefiting from a prestigious address and an incomparable living environment. For a resident, this means having the best services in Monaco in the immediate vicinity: luxury boutiques, gourmet restaurants, casinos, cultural establishments, all in a safe and glamorous atmosphere. The Carré d'Or offers a privileged daily life where everything is within walking distance and where you can enjoy world-class infrastructures (palaces, spas, 24-hour security, etc.). For an investor, acquiring a property in the Carré d'Or is a solid asset investment : property values have historically tended to remain stable and increase, rental demand from wealthy individuals is constant (which potentially ensures high and stable rental income), and Monaco benefits from an advantageous fiscal and economic environment. In addition, owning an apartment in the Carré d'Or is a marker of prestige and success on an international scale. In summary, despite the very high entry fee, many consider the Carré d'Or to be a "concrete" investment combining luxury of life and security of capital.

Q: What are the main attractions of the Carré d'Or?
A: The Carré d'Or has several emblematic sites to discover. The first of these is the Place du Casino, with the majestic Casino de Monte-Carlo and the Casino Gardens adorned with fountains and exotic species. Around the square stand iconic buildings such as the Hôtel de Paris (a historic palace inaugurated in 1864) and the Café de Paris, a luxury brasserie and popular meeting place offering a direct view of the bustling square. Just a short walk away, the Metropole Shopping Monte-Carlo is a refined shopping centre with luxury boutiques and a restaurant, while the new One Monte-Carlo complex offers a promenade of ultra-high-end boutiques in a modern setting. For culture lovers, the Opéra Garnier (adjacent to the Casino) offers a programme of ballets, concerts and operas in a sumptuously decorated Italian-style hall. As for gastronomy, there are several of the best restaurants on the Côte d'Azur (the Louis XV, the Grill, the Nobu Fairmont, etc.) directly in the neighborhood. Finally, as the Carré d'Or is adjacent to the Formula 1 circuit, visitors in May will be able to experience the excitement of the Monaco Grand Prix up close, particularly at the Fairmont corner or on the edge of the Casino gardens. In short, whether it's gambling, shopping, dining or entertainment, the Carré d'Or offers a unique concentration of attractions not to be missed during a visit to Monaco.

The Carré d'Or district in Monaco

Monaco's Carré d'Or is a legendary district, a symbol of pure luxury and Monegasque success. Between its dream location, its historical heritage, its daily effervescence and its extraordinary real estate market, it continues to fascinate investors and visitors from all over the world. For anyone considering a real estate project in Monaco – whether it is a rental investment, the purchase of a second home or a move as a resident – the Carré d'Or often represents the ultimate. It is therefore essential to get information from local experts in order to better understand the opportunities in this very particular sector.

Petrini Exclusive Real Estate Monaco is at your disposal to help you discover the Carré d'Or and the entire Monegasque market. With in-depth local expertise, we offer a personalised and confidential service for the purchase, sale or rental of exceptional properties in the Principality. Do not hesitate to contact us for any questions or real estate advice.

Article written by Paolo Petrini, Monegasque real estate expert.