Monte-Carlo, Monaco: the jewel of the French Riviera

Monte Carlo's stunning skyline overlooks Port Hercules and the Mediterranean, illustrating the unique blend of natural beauty and urban luxury of this iconic district. Nestled in the heart of the Principality, Monte-Carlo is world-renowned for its sunny climate, sublime landscapes and unrivalled luxury lifestyle, attracting a clientele in search of exception. Our agency specialises in the sale of apartments in Monte-Carlo as well as the rental of prestigious properties in the Monte-Carlo district, offering you tailor-made support to carry out your real estate project in the heart of this mythical area. Bordered by the French Riviera on one side and the sea on the other, Monte Carlo has become synonymous with opulence, elite sporting events and haute couture. Informally, the name often refers to a larger area encompassing adjacent neighborhoods like Larvotto and La Rousse – Saint Roman, home to about 15,000 residents in total. For those who want to get to know the Principality's unique environment better, it is essential to discover Monaco's emblematic districts, each offering a distinct character and way of life.

The prestigious Carré d'Or, the recent extension on the sea Mareterra or the historic majesty of Monaco-Ville, the Rock are among the areas to explore to understand the diversity and charm of Monaco. Other districts such as Fontvieille, the Exotic Garden or La Condamine complete this unique panorama. For those who are thinking of moving there, our guide dedicated to settling in Monaco offers valuable information on the procedures, taxation and daily life in the Principality. You can also find out everything about Monaco thanks to our specialised pages, follow Monegasque real estate news or consult our analyses on the real estate market in Monaco to better anticipate your investments.

An overview of Monte Carlo's history

It was in the middle of the 19th century that Prince Charles III set out to transform the destiny of Monaco by developing a luxury complex on the Plateau des Spélugues, a district later renamed Monte-Carlo ("Mont Charles") in his honour. The first casino was inaugurated in 1862 (initially in another area of Monaco), but the real success came after the opening of a railway line in 1868 that made Monaco accessible to the European elite. In 1866, the Casino de Monte-Carlo found its home in this area, and Monaco quickly attracted an influx of wealthy tourists, celebrities, and royalty, forever changing the trajectory of the principality. In 1878, the lavish Monte Carlo Opera House (Salle Garnier) opened next to the casino, designed by the famous architect Charles Garnier who also built the Paris Opera. Monte Carlo quickly became the glittering centerpiece of Monaco, a place where Grand Dukes and Barons rubbed shoulders with artists and adventurers under the gilded ceilings of casinos and theaters.

Over time, the development of Monte Carlo has continued at a steady pace. In the early twentieth century, the district expanded to include elegant boulevards and beaux-arts-style structures, and for a brief period (1911-1917), Monte Carlo even existed as a separate municipality before Monaco's neighborhoods were consolidated into a single city. The legacy of those early days is still palpable: Monte Carlo's legacy of glamour and gambling has helped make Monaco a luxury capital of the world. Today, tradition and modernity blend here: historic sites like the Hôtel de Paris (opened in 1864) sit alongside elegant new skyscrapers, all of which are part of Monte Carlo's unique history.

Luxury and Lifestyle in Monte-Carlo

Monte Carlo represents the true essence of Monaco, offering an unparalleled concentration of luxury experiences. The neighborhood revolves around the Carré d'Or around the Place du Casino, a square whose recent redesign by architect Michel Desvigne has added elegant aquatic elements (including an installation by artist Anish Kapoor) to an already iconic space. Here, supercars glide along impeccably landscaped gardens and Belle Epoque facades, embodying the glamour that Monte Carlo is known for.

Some of Monte Carlo's most iconic attractions and amenities include:

• Casino de Monte-Carlo - The sumptuous 19th century casino that has become a symbol of the extravagance and nightlife of Monaco's high society. Its game rooms and architecture are world-famous, attracting those who are eager to experience the atmosphere immortalized in books and movies.

• Monte Carlo Opera House (Salle Garnier) – An ornate opera house adjacent to the casino, designed by Charles Garnier. This cultural gem hosts opera and ballet in an intimate frescoed auditorium, continuing the tradition of Monte Carlo's high culture.

• Hôtel de Paris & Hôtel Hermitage – Two mythical five-star hotels with Belle Époque elegance in the heart of Monte Carlo. The Hotel de Paris, dating from 1864, and the nearby Hermitage are renowned for their lavish accommodations and have been home to dignitaries and celebrities for more than a century.

• Luxury shopping – Designer boutiques line the Carré d'Or, especially along the Allée Princesse Charlène, a chic high-fashion promenade. It is home to the most exclusive fashion and jewelry houses (Chanel, Dior, Cartier, etc.), making Monte Carlo a paradise for buyers of luxury goods.

• Gastronomy – Gastronomy in Monte Carlo is world-class, with several Michelin-starred restaurants. From the rooftop Le Grill with its panoramic sea view to Yoshi's fine Japanese cuisine, connoisseurs can enjoy a diverse culinary scene. Even the historic Café de Paris brasserie offers classic French cuisine with top-notch people keeping an eye on the Place du Casino.

• Major Events – The energy of the neighborhood reaches its peak during the headlines. Every spring, the streets of Monte Carlo are transformed into the circuit of the Formula 1 Monaco Grand Prix, bringing adrenaline and glamour. The annual Monaco Yacht Show fills Port Hercules with some of the world's largest superyachts, and the Monte Carlo Rally and the International Circus Festival are other highlights of a busy social calendar. Residents enjoy privileged access to these events, which reinforces Monte Carlo's status as a playground for the world's elite.

Beyond the renowned attractions, Monte-Carlo also offers charms on a daily basis. The neighborhood devotes some of its limited land to green space — about 20 percent of Monaco's land area is lush — offering places like the beautifully manicured Casino Gardens or the Japanese Garden by the sea (at the eastern end of Monte Carlo) for leisurely strolls. With the Mediterranean at its doorstep, the Larvotto district of Monte Carlo even has a rare public beach, allowing residents to swim in azure waters just a short walk from their homes. Safety and security are also paramount; like all of Monaco, Monte Carlo benefits from the principality's low crime rate and a discreet but vigilant police force, which gives it an atmosphere of serenity despite the effervescence of activity. Essentially, living in Monte Carlo means enjoying a luxurious holiday vibe all the time – where one can dine at a different gourmet restaurant each night, attend prestigious cultural events, and stroll through pristine streets lined with exotic cars and public art. It is therefore no wonder that Monte Carlo continues to captivate and enchant those who visit or live there.

Monte-Carlo is not Monaco

It is common for some visitors, investors or even journalists to confuse Monte Carlo with the whole country, thinking that Monte Carlo is the official name of the Principality. This mistake is understandable: the district's global notoriety and glamorous aura have made it such a strong symbol that it sometimes overshadows the rest of Monaco in the collective imagination. However, Monaco has been an independent sovereign state for centuries, and Monte Carlo is only one part of it – certainly the most emblematic, but far from representing all the richness and diversity of the Principality.

Monaco is divided into several districts, each with its own identity, specificities and role in the economy and local life. In addition to Monte-Carlo, there is the Rock (Monaco-Ville), the historic heart and seat of the Prince's Palace; the Condamine, with its lively port; the Larvotto and its beaches; Fontvieille, a modern district reclaimed from the sea; or the Exotic Garden, on the heights. Each of these sectors contributes to making Monaco a unique place in the world.

Understanding this distinction between Monaco and Monte Carlo is essential for anyone who wants to settle, invest or simply enjoy the Principality. It makes it possible to avoid approximations, to better identify real estate opportunities and to demonstrate real expertise in the Monegasque market, a guarantee of seriousness and credibility with potential clients or partners.

Real estate in Monte-Carlo: exclusive and in high demand

Renowned for its exceptional properties, Monte-Carlo is a paradise for luxury real estate investment. In fact, the demand for residences in Monte Carlo is consistently the highest in all of Monaco. This high demand, combined with the extremely limited supply of land in Monaco, has made Monte Carlo one of the most expensive real estate markets on the planet. Top-notch apartments regularly offer spectacular views – whether it's a panorama of the sea, the skyline, or iconic landmarks – and often come with top-notch amenities such as 24-hour concierges, Spa facilities and private parking. It's no surprise that some of the principality's most sought-after addresses can be found in Monte Carlo, from modern skyscrapers to historic Belle Époque buildings.

Real estate prices in Monte Carlo reflect its prestige. In the mid-2020s, the average resale price of apartments in Monte Carlo fluctuated between €50,000 and €60,000 per square metre, making it the most expensive district in Monaco per metre. Recent reports show that Monte Carlo has reached around €53,000 per m² on average, with an increase in transactions (around +11 % year-on-year) highlighting the enduring interest of buyers. In the ultra-prime segment (new developments or particularly coveted buildings near the Place du Casino), prices can far exceed these averages, reaching more than €100,000 per m² for the most extraordinary properties. This means that even modest-sized apartments in Monte Carlo often sell for several million euros. Despite (or perhaps because of) these stratospheric prices, real estate in Monte Carlo remains a magnet for wealthy international buyers who appreciate the stability, privacy, and prestige that owning in Monaco offers.

The types of properties available range from cozy studios to sprawling penthouses, although space is limited. The skyline of Monte-Carlo has continued to evolve with new luxury projects: for example, the One Monte-Carlo complex opened a few years ago next to the casino, offering ultra-modern apartments and penthouses with direct views of the Place du Casino. Nearby, buildings such as the Résidence du Métropole, Mirabeau and Park Palace offer prestigious apartments with amenities such as swimming pools and gyms, which are very attractive to foreign investors. Although Monte Carlo is mainly known for its apartment living, a few rare villas and townhouses exist in the area (especially on the quieter streets of Monte Carlo's extended district) – these fetch exorbitant prices when they hit the market due to their rarity.

Another aspect of Monte Carlo's real estate scene is its robust rental market . Many high-net-worth individuals choose to rent before they buy, and luxury rental rates are therefore high. It's not uncommon for a well-located two-bedroom apartment to rent for tens of thousands of euros a month, and during big events like the Grand Prix, short-term rental rates skyrocket. According to market analysis, Monaco (led by Monte Carlo) is the most expensive place in the world to rent, averaging around €91 per m² per month for long-term leases – meaning that a 100 m² apartment can easily rent for around €9,000+ per month. Owning a rental property in Monte Carlo can therefore be incredibly lucrative, and many investors buy here not only for personal use, but also for the strong capital appreciation and rental yield potential.

Despite its high prices, Monte Carlo continues to attract buyers and investors due to Monaco's advantageous tax environment (no income tax for residents, among other benefits) and the prestige of an address in Monte Carlo. Properties here tend to retain their value and often appreciate, especially as Monaco periodically adds new infrastructure (such as the recent Mareterra land recovery project between Monte Carlo and Larvotto, which has created new luxury residences). In summary, the Monte Carlo real estate market is characterized by extreme exclusivity, fierce competition for top-notch listings, and a steady stream of global millionaires and billionaires looking for a piece of its glamour.

Emblematic buildings in the Monte-Carlo district

For investors and residents alike, acquiring an apartment in the Monte-Carlo district gives access to residences offering exceptional services and a world-renowned address. The architectural quality, the services offered and the location of these buildings guarantee a secure investment and a unique living environment. Monte-Carlo benefits from constant demand from international buyers and tenants, ensuring almost non-existent rental vacancy and sustainable property valuation. Here are some of the most emblematic residences that embody the prestige and art of living in Monte Carlo:

• The Millefiori Monaco: The Millefiori is one of the most iconic towers in Monaco, rising to 111 meters with 37 floors. Its slender silhouette offers spectacular views of the sea, the Rock and the rooftops of Monte Carlo. This modern residence offers 24-hour security, 5-level underground parking and bright apartments with beautiful surfaces. Ideal for those looking for a prestigious pied-à-terre or a top-notch rental investment.
• The Victoria Monaco: The Victoria seduces with its unique Art Deco style and its privileged location on the Boulevard de la Princesse Charlotte, a few steps from the Place du Casino. Its 150 apartments are recognizable by their iconic glass rotundas, offering splendid panoramas of the sea and the city. The luxury services and the proximity of Michelin-starred restaurants make the Victoria a residence of choice for epicureans and lovers of Monegasque urban life.
• The Buckingham Palace: The Buckingham Palace, located in the heart of Monte-Carlo, embodies the perfect combination of modernity and refinement. Close to the Casino and its gardens, this building offers a quality concierge service and private parking. The apartments have large terraces, some of which offer a breathtaking view of the sea and the Monegasque coast. It is an ideal choice for those who wish to combine contemporary comfort with a prestigious address.

Thanks to these iconic residences, Monte-Carlo continues to appeal to investors and luxury enthusiasts. Each building embodies a facet of Monegasque prestige, offering an incomparable living environment and a wealth security that is rare on a global scale.

Article written by Paolo Petrini, Monegasque real estate expert.