For more than a century, property has been a pillar of the Principality’s economy. With the price per square metre now topping €50,000, Monaco is one of the five most expensive capitals in the world.
Due to the small size of the Principality, coupled with very high demand and the quality of the property available, the real estate sector is a particularly dynamic part of the Monegasque economy. According to Monaco Statistics (IMSEE), construction ranks among the top three contributors to Monaco’s GDP,* accounting for 11.4% of the wealth generated in the Principality. Real estate activities, meanwhile, account for 9.6% of GDP.