Secondary realty market results were disappointing in 2017 thus demonstrating 1.831,0 mio eur value of all transactions for re-sale of 406 apartments (vs. 2 217 mio eur and 520 apartments sold in 2016). This is almost 22% drop. Average price of every re-sold unit was 4 509 000 eur. Most stable turned out to be the segment of resold studio-apartments in Monaco. Their quantity in 2016 and in 2017 remained unchanged.
Number of one-bedroom units sold was cut by approx. 20-25%, two-bedroom apartments in Monaco lost approx. 15-20% in sales, three-bedrooms segment suffered most significant decrease in sales of 41% while four-bedroom units showed just 10-15% decline. Most common request in 2017 has been shown for 2-bedroom apartments up to 3,0 mio eur and for 3-bedroom apartments up to 4,0 mio eur. But the market is not ready to meet such demand and still dreaming of booming prices. However, 2017 was the first year since 2010 when we saw official discounts in pricing of some marketed apartments, for example, rented apartment with 3 bedrooms in Villa des Garets fell from 4,6-4,7 mio euro to 4 050 000 eur- https://www.buy-monaco.com/catalog/apartment-sea-view-moneghetti-area-belle-epoque-residence-villa-des-garets
Some apartments originally marketed for 15,0-16,0 mio eur were offered in 2017 for 13,0-14,0 mio eur with a clear buyer bonus of 1,0-2,0 mio eur. That rarely occurred before and almost did not happen during last 8-10 years. Geographically, Monte-Carlo and La Rousse continue to be most demanded areas of Monaco with 60% of sales and re-sales leaving Moneghetti, Monaco Ville, Fontvieille, Port area and Jardin Expotique being far behind. This tendency was clear already in 2015-2016 and it continues to prevail.