With Lando Norris claiming victory at Monaco this past weekend, the legendary Formula 1 Grand Prix has once again come to a close. The glamorous Mediterranean principality demonstrated its magnetic appeal beyond the racetrack, with JamesEdition’s exclusive data revealing that property page views surged four-fold during the grand prix weekend. This dramatic spike underscores the direct connection between Monaco’s world-class events and its red-hot property market.
This surge in interest coincides with record-breaking market performance. According to new Savills research, capital values for prime residential properties in Monaco reached €51,967 per square meter in 2024, up 1% year-on-year and representing a new high for the Principality.
Inside Monaco’s Property Market: How New Supply Is Reshaping Demand
Based on data from a new report released by Savills Monaco, the completion of several new developments, particularly the groundbreaking Mareterra land reclamation project, has fundamentally altered Monaco’s property landscape.
According to Savills Monaco, total sales volumes smashed previous records to reach €5.8 billion in 2024, with new-build sales alone contributing nearly €3.7 billion.
Transaction volumes rebounded by 21% to 466 sales, largely driven by Mareterra’s 101 new-build transactions — a 260% increase from 2023 levels. The development has shifted market dynamics considerably, with three out of four new-build sales being properties valued above €10 million, compared to one out of four in 2022.
Kelcie Sellers, associate director at Savills World Research, explains the transformation: “For decades, the prevailing story of the Monaco property market has been one of chronic under-supply. However, the completion of several new developments, including the Mareterra land reclamation, has added much-needed stock to the Principality.”
Investment Outlook
Despite limited future supply pipeline, confidence in Monaco’s property market remains robust. Beyond Mareterra, Bay House and L’Exotique have been completed recently, bringing just a multitude of additional apartments and villas to the market.
Land constraints mean significant new developments remain unlikely in the near term, positioning existing real estate to continue its price appreciating over time. This scarcity, combined with Monaco’s safe-haven status and zero income tax policy, continues attracting global high-net-worth individuals seeking both lifestyle and investment value.
The F1 weekend’s surge in property interest demonstrates how Monaco’s prestigious events translate directly into real estate demand, reinforcing the Principality’s unique position where lifestyle, investment opportunity, and global prestige converge.
Ready to explore the Principality’s record-setting property market? Discover our curated selection of residences in Monaco.
