MONACO-VILLE
The Old Town, where the Prince’s Palace is located, is always in style.
Fans of this area of Monaco appreciate:
- Quality of life. Thanks to the absence of traffic, it is cleaner and quieter here. Tourists leave by 6:00 PM, and calm sets in.
- Safety and the presence of carabinieri 24/7.
Many Monegasque families have lived here for generations.
The Old Town is also popular with the English and Scandinavians. Some Russians also enjoy the old walls and the authenticity of the Old Town.
- Many families value the presence of schools here, including two high schools.
In Monaco-Ville, only 30% of properties are available for open rental. Usually, properties don’t stay on the market for long—they are immediately rented by new owners.
Rental prices in Monaco: Monaco-Ville
Studio: €2,000–2,500/month
2-bedroom apartment: €2,800–4,000/month
3-bedroom apartment: €4,500–7,000/month
4-bedroom apartment: €6,000–17,000/month
MONTE-CARLO / CARRÉ D’OR
The central district of Monaco, located near Casino Square, is the most expensive area for both buying and renting property.
The further from Casino Square, the better the chance to find more reasonable prices.
Residences such as Les Floralies, Le Parc Palace, Le Sun Tower, Le Métropole, Le Mirabeau, and the new Petite Afrique remain the most prestigious and expensive.
The average rental price in the Carré d’Or in Monaco is €80/m² per month.
However, due to ongoing works in central Monte Carlo, prices for the most prestigious properties around Casino Square have stopped rising.
Still, today it is difficult to rent anything in the Carré d’Or for less than €2,500/month.
Among new developments, all eyes are on the 2018 One Monte Carlo project, a modern luxury residence that will also house offices and 4,500 m² of boutiques of the most famous brands.
Rental prices in Monaco: Monte-Carlo / Carré d’Or
Studio: €2,500–5,000/month
2-bedroom: €4,200–12,000/month
3-bedroom: €6,000–18,000/month
4-bedroom: €8,000–30,000/month
LARVOTTO / LA ROUSSE
The Larvotto district is Monaco’s showcase, much like the Casino. This sea-adjacent area offers apartments with beautiful sea views and proximity to beaches and the city center.
This area is the preferred rental location in Monaco for Russian-speaking clients.
About 90% of Larvotto’s buildings (mostly from the 1960s) belong to the well-known Monegasque Pastor family.
Thus, it is easier to rent than to buy property here. Available rental apartments are rare; tenants usually wait on a list for offers.
Notable in Larvotto is the prestigious residence Le 21 Princesse Grace, built in 1991, designed through an international architectural competition.
Also, three luxury villas are available for rent in Larvotto for €200,000/month, with private sea access, 24/7 security, and 5-star hotel services.
New projects are expected on reclaimed land, which may become the most expensive and comfortable area of Monaco. The Testimonio project is under construction, intended to host the International School of Monaco for children.
In La Rousse, tenants have better chances of finding apartments. Prices here are lower, with panoramic sea views and walking access to beaches. Most residences were built before the 1960s. The most popular buildings for sea views include Le Chateau Perigord, Le Monte Carlo Sun, Le Parc Saint-Roman.
Upcoming projects include the Giroflées tower and the development around the new prestigious Odeon tower. Currently, the Odeon tower symbolizes Monaco’s future architecture and offers high-quality service, though the streets around it are less developed.
Despite this, apartments in the Odeon tower have been rented at record prices: 4-bedroom apartments of 350 m² for €42,000/month.
Rental prices in Monaco: Larvotto / La Rousse
Studio: €2,000–4,000/month
2-bedroom: €3,500–6,000/month
3-bedroom: €7,000–15,000/month
4-bedroom: €12,000–25,000/month
FONTVIEILLE
Fontvieille is a dynamically developing district of Monaco. Property prices have more than doubled over the last 10 years: from €15,500/m² in 2006 to €39,700/m² in 2016.
Monegasques recall that in the 1980s, no one wanted to live in Fontvieille due to fears of the sea reclaiming land. Remember, Fontvieille is built on reclaimed land.
Ironically, today it is one of the most sought-after districts, especially for families with children, due to parks, proximity to supermarkets, the international school, and the university.
It is also easier to find large apartments of 500–600 m² with panoramic sea views and without busy roads. You can rent apartments with a private pool and even register a SARL company at your residence for 2 years.
Older Fontvieille buildings (Donatello, Raphael, Giotto) face the Fontvieille port with views of the Old Town and the Prince’s Palace.
Later developments are closer to Cap d’Aï port (Seaside Plaza, Les Terrasses du Port, Le Memmo), offering luxury residences with pools, gyms, and 24/7 security.
Families usually rent 4-bedroom apartments in Fontvieille with a budget from €20,000/month.
Rental prices in Monaco: Fontvieille
Studio: €2,300–3,500/month
2-bedroom: €4,000–6,500/month
3-bedroom: €6,100–16,000/month
4-bedroom: €13,000–26,000/month
LA CONDAMINE
Condamine, located behind the Hercule port, is one of the most pleasant residential districts of Monaco.
Families appreciate the schools, pedestrian streets, and proximity to the center and sea, while young people enjoy nightlife and port restaurants.
The district is easily accessible on foot or by bus to all Monaco neighborhoods. The main issue is the scarcity of available rental properties in Condamine.
Property prices in Condamine have also risen from €13,950/m² in 2006 to €41,600/m² in 2016.
Rental prices have accordingly increased. A studio in this area without a view should theoretically cost no more than €1,600/month, but such offers are virtually unavailable due to the abundance of old and state-owned properties reserved for Monegasques.
Due to the predominance of older buildings, it is also harder to find apartments with underground parking.
Rental prices in Monaco: Condamine
Studio: €1,800–3,000/month
2-bedroom: €2,500–4,600/month
3-bedroom: €5,800–15,000/month
4-bedroom: €8,200–18,000/month
MONEGETTI / JARDIN EXOTIQUE
Jardin Exotique, located at Monaco’s entrance via the upper road from Nice, is a prime example of the evolution of Monaco’s real estate market.
For a long time, it was avoided due to its distance from the center and lack of developed infrastructure. Residents feared noise and proximity to the tunnel.
In recent years, Jardin Exotique has become more attractive. The stylish Simona tower was built here: its 4-bedroom apartments with private pools are in high demand and rarely available, along with the new Monte Carlo View building.
Some older buildings’ facades, such as Eden Tower, Patio Palace, and Granada, have also been renovated.
This is a Monaco district where tenants expect lower prices, but in reality, small apartments are rented at the same rates as other Monaco districts due to high demand.
The average rental price in Jardin Exotique is €55/m².
Residences like Ligures are highly sought after due to features such as concierge service, pool, tennis court, sauna, and gym.
It is harder to rent large apartments above €20,000/month here; smaller apartments at more reasonable prices are in higher demand.
The advantage of Jardin Exotique is that panoramic views of the sea and Monaco can be obtained at lower prices than in other more prestigious districts.
Rental prices in Monaco: Moneghetti / Jardin Exotique
Studio: €2,000–3,000/month
2-bedroom: €3,000–5,000/month
3-bedroom: €6,000–10,000/month
4-bedroom: €6,500–20,000/month
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