MONACO, A BLUE CHIP INVESTMENT

With two decades in real estate to her credit, Laurence Vada is Sales Director with Heritage Properties, an agency with a team of seven in the Principality. Our expert reviews the current year and remains optimistic about the future of Monaco and its highly prolific property market.

Laurence Vada’s professional career began in communes on the outskirts of Monaco before she joined her first agency in the world’s second smallest state after the Vatican, where she mainly handled sales of luxury villas between Roquebrune-Cap-Martin and Saint-Jean-Cap-Ferrat, then properties within the Principality. In 2021, after gaining further substantial experience in a firm with a more international focus, she joined Heritage Properties.

An agency handling sales, rentals and property management, but also services provided by handpicked notaries, lawyers and bankers. Thanks to perfect knowledge of Monaco’s ecosystem, professionalism, seriousness, service and advice are the pillar stones of its proposals. 2023 is proving to be even better than last year, with higher turnover explained by transactions completed at higher prices on average.

In the neighbourhood of La Rousse Saint Roman, in a fine bourgeois building with concierge and lift, this bright renovated apartment of 187.30 m2 offers three suites, high ceilings, a terrace and balconies of 35.90 m2. 8.950.000 €.

In La Rousse Saint Roman, in a luxury residence with 24/7 conciergerie and a pool, this renovated apartment of approx. 228 m2 basking in light offers 5 main rooms and terraces of 48 m2. On the 15th floor, facing east, it enjoys panoramic views of the sea, the Country Club and Monte Carlo Beach. The property is completed by a cellar and two parking places within the residence. 17.500.000 €

Laurence Vada, Sales Director with Heritage Properties. 31 avenue Princesse Grace, 98000 Monaco (00 377 97 70 97 20).

Demand is very steady though confronted by scarcity for large surface areas. No setback for prices on the horizon, in spite of the international economic situation. No more so than in the past 20 years, in fact, with Monaco demonstrating real resilience in periods of crisis. Most transactions lie in the 5-10 million euro bracket. A budget of 5 million euros is required for a 2-bedroomed apartment of 85-100 m2 in the Saint-Roman neighbourhood, in a residence with a pool, sea view and 24/7 conciergerie. The price per sq. metre is close on 50,000 €.

Ten million euros are required for a spacious 2-bedroomed apartment of 160 m2 in good condition, not far from the “Golden Square” or on the front row in the Larvotto beach neighbourhood. These properties draw the interest of both families looking for their main homes, and investors in search of a sound long-term asset. A rare commodity, new apartments also sell easily, whatever their surface areas or views.