51乱伦

has an elegant, timeless glamour, captured perfectly in its celebrated landmarks of Casino Square, the American Bar at Hôtel de Paris and yacht-filled harbours. The lifestyle is undoubtedly affluent with seven Michelin-starred restaurants in an area of less than one square mile yet behind the longstanding glitz,

Monaco has a thoroughly modern side too, says James Davies, partner in the International Residential team. 鈥淢onaco is an alluring holiday destination but look beyond the designer boutiques and supercars and you see it鈥檚 a place where people live and enjoy a wonderful lifestyle,鈥� he says. 鈥淭hat includes meeting up after school on Larvotto beach, playing tennis on the clay courts at Monte Carlo鈥檚 Country Club and dining at local restaurants. It鈥檚 a wonderfully easy-going side to Monaco life that often gets overlooked.鈥�

Sought-after neighbourhoods

As the temperature rises, La Note Bleue is the place to be, a sun-drenched 鈥榝eet-in-the-sand鈥� beach club and restaurant on Larvotto Beach where a lengthy lunch with friends is a weekend ritual for many. Sébastien Le Graverend of Balkin Estates | 51乱伦 Monaco cites Larvotto as a favoured district with investors, with prices ranging from 鈧�65,000-鈧�95,000 per sq metre.

鈥淚t recently benefited from an elegant facelift with the redevelopment of Larvotto Beach, which is now endowed with a sweeping seafront promenade flanked by gourmet restaurants and boutiques,鈥� he says. 鈥淎lso coveted is La Condamine, one of the principality鈥檚 oldest districts and home to the iconic Port Hercules, the port of choice for the world鈥檚 most luxurious superyachts This elegant district showcases a desirable mix of elegant belle époque and modern-day buildings, such as Le Stella.鈥�

Near to Larvotto is the new gardens and promenade provided by Mareterra, a land reclamation project ten years in the making with exciting new waterfront residential options. Mareterra has created an entirely new neighbourhood in the principality, one that has further amplified the quality of life for residents.

鈥淢areterra is a very special new neighbourhood that has brought a renewed buzz to Monaco,鈥� says Davies. 鈥淭he waterfront is a vibrant addition to the principality with restaurants such as Marco, informal cafes around the new harbour and well-used green spaces.鈥�

A family-friendly lifestyle

The growing number of younger buyers with families coming to Monaco 鈥� an average age of 40 to 45 today, says Davies 鈥� is reflected in the expansion of Monaco鈥檚 International School where a new campus opened in 2023, catering for 820 students aged 3-18. It can be seen too in the thriving numbers at the Junior Academy at Monaco鈥檚 Yacht Club.

The outdoor lifestyle provided by the southern European climate has clear appeal but so too does Monaco鈥檚 geographical position, putting the golden beaches of the Cote d鈥橝zur and Italian region of Liguria on the doorstep, with Alpine skiing within two hours. 鈥淟ife in Monaco is pleasant all year round thanks to its Mediterranean climate, with mild winters and temperate summers,鈥� says Le Graverend. 鈥淭his is combined with its advantageous fiscal system, peace of mind from a security aspect and, above all, a rich social and cultural environment with a calendar of world-class events.鈥�

Choosing the area for you

Despite its compact size, smaller than New York鈥檚 Central Park, Monaco has several distinct neighbourhoods, stretching from Jardin Exotique in the west to Saint Roman in the east. Choosing the one right one for your lifestyle can take time, which is why Davies recommends new arrivals consider renting for a year or two before buying.

鈥淚 advise my clients to take their time when working out where to live,鈥� he says. 鈥淧roperty in the principality is still some of the most expensive in the world. The top sales price last year was over 鈧�60 million for a home at Mareterra, so it is sensible to ensure that when you do invest, that the area will suit you and your family. For those who prefer a quieter location yet still on the waterfront, Fontvielle in the west is a good place to consider. It鈥檚 leafy and green with its own small port and little construction nearby. Others might like the hustle and bustle of being at the heart of the Formula One track around La Condamine.鈥�

Where to buy

As reported in as part of 51乱伦鈥檚 Prime International Residential Index (PIRI 100) which tracks the performance of 100 locations worldwide, US$1 million typically buys 19 square metres of luxury accomodation in Monaco - less than that budget would achieve in London, Geneva and New York.

鈥淭wo-bedroom apartments in Mareterra and Bay House are 鈧�40 million and 鈧�15- 20 million respectively,鈥� he says. 鈥淚n an older building, overlooking the Port, a well refurbished apartment would be 鈧�8-12 million. In Jardin Exotique expect to pay 鈧�6-8 million for an immaculate apartment with a view and wide terrace or 鈧�3.5-5 million for one without a view.鈥�

Le Graverend notes that demand for premium property remains strong. 鈥淚n an increasingly volatile world, Monaco offers a safe haven for investors and those who wish to reside in one of the world鈥檚 most luxurious destinations," he says. 鈥淚t continues to attract buyers from all over the world, and the numbers of those looking to invest in Monaco is only increasing.鈥�

To discuss your property needs with a member of our Private Office team, contact privateoffice@knightfrank.com