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If you own a property in the Principality of Monaco, whether it is an elegant apartment in Monte Carlo, a quality house in Fontvieille, or any other property, it is essential to know its value in the current market. The accurate valuation of your property is an essential step, whether you are considering selling your property or simply want to have an idea of its current value. At Petrini Exclusive Real Estate, our team of experts is at your disposal to accompany you throughout this sale process.
Estimating the value of a property in Monaco is a complex task, as many factors influence prices in this world-renowned Principality. To arrive at an accurate assessment, our expertise takes into account a multitude of criteria, some of which are:
The neighborhood and location : The Principality of Monaco is a diverse place, with a variety of neighborhoods, each with its unique advantages. Among them are Monte-Carlo and Le Larvotto, famous for their timeless elegance and their imminence with the Place du Casino. Here, the apartments offer a magnificent view of the capital. Square metres in these prestigious neighbourhoods are at an all-time high, with prices around €53,000 in Monte Carlo and €62,000 in Larvotto respectively. Going down to the port areas of La Condamine, which surround Port Hercule, as well as the Fontvieille district, located next to the port of Cap d'Ail, prices remain high, reaching around €52,000 per square meter. These areas also offer picturesque views of the port and the capital. However, if you are looking to acquire a house or apartment in Monaco while staying within a more reasonable budget, the high up areas on the borders with the French municipalities of Beausoleil, La Turbie and Roquebrune Cap Martin are options to consider. Square meters of apartment are more affordable, with an average price of around €35,400 at the Jardin Exotique, €45,500 at Moneghetti and €42,500 in the Larousse district.
Plus, Monaco is close to the charming city of Nice, offering a balance between Monegasque charm and lively Nice life.
The quality of the property : The overall condition of the property, as well as its unique characteristics, play a major role in its evaluation. A modern kitchen, stunning sea views, a spacious terrace, or high-quality finishes can increase the value of a property for sale.
Size and composition : The number of rooms in a property, whether kitchen, bedroom, or bathroom, as well as the presence of a terrace or a panoramic view, have a significant influence on the average price per square meter of a property. In general, apartments with a large area, more bedrooms, an equipped kitchen, a modern bathroom, and possibly a terrace with a view tend to have a much higher price per square meter in the real estate sector.
The condition of the building and residence: The general condition of the building and residence in which the property is located is taken into account. A high-end residence with exclusive services can have a positive impact on the value of the property. A residence with 24-hour concierge, gym or swimming pool also influences to estimate a property.
Proximity to amenities: The proximity of amenities, including shops, schools, public transport and other amenities such as restaurants, luxury shops, or the famous Place du Casino, can also have a significant influence on the value of a property in the city. Easy access to shops and essential services, as well as the opportunity to enjoy the bustling city of Monaco, are elements taken into account in the evaluation of a property.
Age of ownership: The age of ownership is an important factor. Newer or recently renovated properties are often more popular on the market.
The market situation: The real estate sector in the Principality is dynamic and can evolve rapidly. Supply and demand, as well as other economic factors, play a key role in setting prices.
Evaluation methods :
The Monegasque real estate market is unique, characterized by high prices and significant disparities between districts. Using a specialized real estate agency in Monaco offers many advantages:
Due to its unique living environment, political stability, exceptional quality of life and prosperous economy, Monaco's real estate sector remains an attractive destination for investors from all over the world. Rates per square meter vary greatly depending on the neighborhood.
The Monegasque real estate sector is constantly evolving. In the first quarter of 2020, there was a 13.5% increase in transactions compared to the same period the previous year. The most popular properties are 2-room apartments and apartments with 5 rooms or more.
Thus, estimating the value of your property in Monaco is a crucial step, whether for sale, purchase, rental, or simply to know the value of your assets. Using a specialized agency such as Petrini Exclusive Real Estate guarantees an accurate and professional valuation, based on an in-depth knowledge of the Monegasque market. Do not let the complexity of the Monegasque real estate sector escape you, trust our expertise to obtain reliable results, whether for property valuation, tenant search, rental management, or other real estate services.
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