What are the future developments in Monegasque real estate ?

June 3, 2024

The Monegasque property market remains solid today, buoyed by international demand and limited supply, providing a rare degree of stability. Architectural trends, particularly in Monte Carlo, are evolving with innovative projects incorporating sustainable technologies and avant-garde designs. Often associated with opulence and stability, real estate in this area is constantly attracting interest. Let's take a closer look at the developments that are shaping the future of this unique property market.

What are the current and future real estate projects in Monaco?

Monaco, that little piece of paradise on the Côte d'Azur, is booming with a series of current and future real estate projects that are changing the principality's urban landscape. As a result, International buyers looking to invest in Monaco's Monte-Carlo district should focus on strategic acquisitions of prime properties.

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L'Anse du Portier

Located on the shores of the Mediterranean, the flagship project of L'Anse du Portier is taking shape. With waterfront residences, green spaces and luxury facilities, it promises to become the new symbol of the Monegasque lifestyle.

L'Anse du Portier begins with a strategic vision to create an oceanfront extension to Monaco. The aim is to merge residential elegance with the exceptional coastal environment of the Mediterranean. The architectural plans required an innovative approach. 

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The architects designed schemes integrating exclusive residences, green spaces and high-end facilities. State-of-the-art marine engineering was used to create an offshore extension while minimizing environmental impact. Innovative techniques have been used to preserve the local marine ecosystem.

The residences at Anse du Portier offer panoramic sea views. The architectural integration aims to create harmonious interior and exterior spaces that meet high standards of luxury and privacy. Exclusive amenities have been integrated, including outdoor relaxation areas and wellness facilities. Every detail has been carefully considered to provide residents with an exceptional living environment.

Today, Anse du Portier marks a milestone in Monegasque urban planning. Much more than a simple building project, it represents the ability to transform a technical vision into a functional and aesthetic reality.

Testimonio II

In the dynamic Condamine district, Testimonio II is a combination of housing, workspaces and shopping areas. It offers a complete living experience in the heart of Monaco.

The story of Testimonio II begins with a bold vision to create a complete neighborhood in Monaco's dynamic Condamine district. The aim was clear: to integrate residences, offices and shops in a harmonious way. The architectural plans are at the heart of the project, cleverly combining housing, workspaces and shopping areas. The architects have left plenty of room for creativity, while respecting the essence of Monegasque urban life.

The reality of Testimonio II takes shape with the delicate construction in an already active neighborhood. Each stage is meticulously orchestrated to minimize disruption while maintaining the neighborhood's dynamic character.

Solid foundations are being laid to support the ambitions of Testimonio II. The construction provides for robust structures, ready to accommodate a variety of uses and evolve with the changing needs of the neighborhood. The aim is to achieve a perfect balance between the different components of Testimonio II. Residences, offices and shops are carefully integrated, creating an environment where work and daily life coexist naturally.

Intelligence is at the heart of Testimonio II. Innovative technologies, from intelligent resource management to ecological solutions, make the district an example of sustainability and efficiency. It is a technical achievement that adapts to modern needs, while contributing to the richness of Monegasque urban life. 

In addition to Anse du Portier and Testimonio II, Mono has a host of property developments to showcase, from La Stella to 26 Carré Or and the Tour Odéon, the principality is a benchmark for luxury.  Each of these buildings contributes to the dynamic and luxurious history of Monegasque real estate.

Future property developments

Monaco continues to seduce with its elegance and exceptional residential appeal. Future property developments promise an even more captivating future. Clearly committed to an eco-responsible approach, this city is seeing the emergence of innovative eco-neighbourhoods. Environmentally-friendly buildings will be erected, incorporating the latest technologies to minimize the ecological footprint.

Monaco is aiming to create a new luxury district by the sea by 2025. The first stone of this project has been laid on the water. The 6-hectare district will be built around 18 caissons. The first caisson, weighing 10,000 tonnes and standing 27 meters high, has already been installed on the sea. 

The project began in 2020 and is scheduled for completion in 2025. Inaugurated by Prince Albert II, everything is being done to protect flora and fauna. As the aim is to build totally luxurious homes, we can expect the price per square meter to rise considerably in this area.

Another gigantic project, planned for the Mediterranean Sea, will be delivered in Monaco in a few months' time. This is the huge Marretera project, estimated to be worth a total of two billion euros, which will see the creation of a luxury neighborhood on the side of the Grimaldi Forum. With an underwater embankment some 50 m deep, it will consist of 130 homes spread over five buildings and ten villas. The architect in charge of the project is Italian Renzo Piano, who is working to make it a great success.

In short, if you want to live in Monaco, you have to learn to live with the elements of a city under construction. In addition to the two projects mentioned, Monaco is a region that is constantly under construction. The year 2024, in particular, is set to see the completion of a large number of new buildings. 

These include the two towers with over 300 flats, the International School of Monaco with a capacity of over 700 students, the New College in the Îlot Pasteur, Larvotto Supérieur, the SBM project, the renovation of the public security building, etc.

What impact do developments have on the local market?

Property developments in Monaco are having a significant impact on the local market, influencing the principalities real estate dynamic in several ways.

Firstly, the real estate market is rising in value. Prestigious property developments are contributing to an overall increase in the value of the market. The growing demand for top-of-the-range properties is accompanied by an increase in the value of existing properties. 

Secondly, the diversification of supply is making itself felt. The introduction of new projects is diversifying Monaco's real estate offering. Modern residences, eco-neighbourhoods and innovative infrastructures are broadening the choices available, attracting a varied clientele. These high-profile projects are attracting an international clientele. The reputation of Monaco's developments transcends borders and reinforces its reputation as a prime real estate destination.

On the other hand, Monaco's growing appeal can put pressure on property prices. The scarcity of space and high demand may lead to an increase in prices. This consolidates Monaco's position as one of the most exclusive property markets.

In short, property developments in Monaco have a multi-dimensional impact, stimulating the local economy, broadening the range of properties on offer, attracting an international clientele, but they can also exert pressure on prices. However, they are shaping a dynamic Monegasque real estate landscape, combining tradition and innovation.

What does the future hold for real estate in Monaco?

It's clear that Monaco will continue to be at the forefront of architectural innovation. Future developments will focus on avant-garde designs, integrating sustainability, technology and luxury to create unique residences. Sustainability will remain at the heart of all real estate projects. High environmental standards and eco-responsible initiatives will be integrated, reflecting Monaco's commitment to a sustainable future.

Technological advances will be increasingly integrated into Monegasque real estate. Innovative digital solutions will facilitate the search, purchase and management of properties, providing an immersive experience for investors. Monaco will continue to diversify its real estate offering. Varied residential areas, modern living spaces and innovative infrastructures will attract a diverse international clientele.

International demand for Monegasque property is set to grow. The appeal of the security, luxurious lifestyle and favorable tax regime will attract investors and residents from all over the world. Infrastructure projects will continue to improve connectivity and amenities. Investment in transport, green spaces and cultural facilities will enhance Monaco's overall appeal. The rental market in Monaco will be dynamic, offering attractive opportunities. Landlords will benefit from the continuing demand for high quality rentals.