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Real estate market of Monaco

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It is hard to believe but many apartments in Monaco are for sale already for several years. It does not mean the price is high or the location is critical. One of the samples (we hope it will help to promote the apartment sale) is 3-bedroom unit in Le Plati residence for quite fair price below 4 mln. Another sample is Azur Eden - 3 bedroom apartment (simply difficult to show) or renovated penthouse in the same Azur Eden residence.
Many Sellers prefer to wait 3-4 years rather than to drop prices and they rent out their apartments in the meantime. Rental income in Monaco is still between 1,5-2,5% per annum. That is almost nothing in comparison with booming rentals in Germany or crowdfunding investment projects in the UK where you can get 7-10% per annum. Monaco moderate rental yields results were recently compensated by rise in prices for 4-5% every year. In 2017 the tendency of price escalation was not so evident, real estate market in Monaco took a pause after 10 years of dramatic realty prices increase.