Halfway through this first year of the 2020s, Wealth Monaco collected the inputs of John Taylor Luxury Real Estate Agency, on the Principality’s property market and perspectives.

Market resilience, technology, green construction are all today’s challenges of the principality.

Some may wonder if Monaco post Covid remains a good investment opportunity.

“Monaco benefits from a multitude of advantages that other markets simply don’t have, including fiscal advantages, great quality of life, a sun-soaked climate, high security and close proximity to the major European capitals. Thanks to these benefits it offers a very resilient market: in times of crisis, the sales volumes decrease, meaning that people don’t buy or sell property, but prices remain stable as there is always a high demand. So, Monaco real estate is set to stay a very good investment opportunity for the 2020s and beyond.”

How did agencies been coping with customer’ requests during Covid?

“The restrictions of the COVID-19 crisis forced real estate agents to upgrade their game on virtual tours, which should make the viewing process a lot easier for overseas investors in the future. However, it is likely that the vast majority of investors still want to see a property in person at least once before committing to a purchase. We do not foresee this changing over the next decade”.

What about Blockchain and Tokenization in real estate?

Since the last bill passed in the principality, and the willingness of Monaco to utilize decentralized finance, we could envisage that Real Estate Token be exchanged in the future, on a digital platform growing investors’ interest and participation.

“Blockchain technology is likely to be used more in the 2020s to speed up Monaco property transactions.”

Mareterra Portier Cove is Monaco’s big buzz

By creating a new district for the Principality, representing 2 billion euro in investment, the ambitious and innovative project for the Principality reconciles offshore urban development and environmental protection by setting extremely high specifications.

Valode and Pistre Architects and Renzo Piano Building Workshop are the two internationally renowned firms that coordinate the work of design teams to bring together design, aesthetics, energy efficiency and sustainable development. Associated with landscape architect Michel Desvigne, they introduce a natural space within this artificial extension.

Green and Energy Transition

This program will deliver 60,000 sqm of residential property, parking spaces plus one hectare of park/forest and green credentials such as reuse rainwater system, photovoltaic panels, sea water thermal pumps as heating integrated system, and e-mobility.

It responds to the Principality’s ambition to commit to energy transition objectives and reduce greenhouse gas emissions until becoming carbon neutral by 2050, while accompany the growth and dynamic of a modern country.

“Monegasques and worldwide investors are hotly anticipating its delivery in 2025. There are many other new developments that will change the Principality’s skyline, but Mareterra Portier Cove is by far the most dramatic.”

“A decade in construction is not very long at all, due to the typical length of projects from concept to delivery. What’s more, in a stable market like Monaco there are never too many surprises. However, we predict that the next decade will be a highly exciting time in Monaco real estate, with a number of eagerly-anticipated building projects in the pipeline.”

Article : Joana Foglia with the contribution of John Taylor Monaco