MAPPED: Monaco’s super-prime pipeline

New map shows what's being delivered and where over the next 20 years

Despite being smaller than Hyde Park and Kensington Gardens combined, Monaco is now home to 12,200 millionaires. A “benign” tax regime, privacy and security continue to attract HNWIs in their droves – the number of inhabitants with US$30m+ to their name has shot up by 62% in the last decade alone – but what kind of stock is being delivered to cater for their rarefied needs and super-deep pockets?

It’s not hard to see where the demand is. According to Knight Frank, the average price of a resale property in Monaco stood at €3.5m in 2015, whilst the average for the 38 new-build apartments sold last year was closer to €11.9m.

The lack of available land keeps a firm lid on the number of box-fresh units being delivered of course – 2015 was a bumper year in comparative terms, as 195 new apartments in three new prime developments (Tour Odéon, Le Meridien and Le Petitie Afrique) hit the market – and the next tranche will come with the completion of Testimonio II, a 150-unit scheme being built by the firm behind the bar-raising Tour Odéon (where the penthouse is currently rumoured to be available at $335m).

Here’s where to look…

knightfrank.co.uk