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Monaco’s districts: where will you move?

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  • Monaco's districts
  • Monaco’s districts: where will you move?
22 February 2018
quartiers-monaco

When considering a move to Monaco, our clients are often concerned about where they should focus their property search, amongst the different Monaco’s districts. There is obviously no “best area” in Monaco; there are a number of lovely neighbourhoods, each with its own features and characteristics. So the focus is on finding the area that best suits your needs, your desires and your budget.

Monaco’s districts are currently defined by Royal Decree no. 4482 of 13 September 2013. Monaco is divided into two conservation areas and seven regulated districts.

Conservation areas

According to the protection order, conservation areas are areas for which the “current character must be preserved”:

  • Monaco-Ville
  • Ravin de Sainte-Dévote

Regulated districts

The regulated districts have urban planning by-laws:

  • La Condamine
  • Fontvieille
  • Jardin Exotique (Exotic Garden)
  • Les Moneghetti
  • Monte Carlo
  • La Rousse
  • Larvotto

Monte Carlo is the largest of Monaco’s districts, spanning 436,760 sqm or 21.5% of the surface area of the Principality. In contrast, Les Moneghetti is the smallest regulated district of Monaco, with 115,196 sqm, or 5.7% of the surface area of the Principality.

 

monaco-districts-jardin-exotique

The Jardin Exotique district – View from above

Historical perspective

Because this definition of Monaco’s districts has evolved over time, in Monaco we sometimes hear names that no longer apply, as some neighbourhoods have been grouped together or their name has been simplified, in the 2013 definition:

  • Jardin Exotique now includes the old districts of La Colle and Les Révoires
  • the former Saint-Michel district has been incorporated into Monte Carlo
  • the Monte Carlo Spélugues district has become simply Monte Carlo
  • the La Rousse-Saint-Roman district has become simply La Rousse
  • the Larvotto-Bas-Moulins district has become simply Larvotto

Some districts even used to be “communes”: between 1911 and 1917, the Monegasque constitution structured the territory of the Principality into three municipalities: Monaco-Ville, Monte Carlo and La Condamine, before returning to a single municipality, which is still the case today.

 

Where should you invest?

As far as the supply of available housing is concerned, the Monte Carlo district is absolutely critical since it represents more than a quarter of the Principality’s total residential real estate and more than 28% of sales recorded in 2016 (excluding new builds).

The Larvotto district has an interesting feature: although it represents more than 7% of residential real estate, less than 1% of transactions are recorded there. This is because most of the buildings in the area are owned by the Pastor family, the people behind the development of the Larvotto district. So it is possible to rent an apartment but very difficult to buy.

In contrast, the district of La Rousse is very dynamic in terms of property transactions: more than 27% of sales take place in this area, though it represents only 17% of residential real estate.

When it comes to, Monte Carlo obviously takes the top spot, while the Jardin Exotique district is Monaco’s most affordable area.

 

2016 Residential
real estate (sqm)
Number of sales Price per square metre (€) Size of district / Residential real estate Size of district / Number of sales
Monte Carlo 481,618 150 44,083 26.2% 28.8%
Fontvieille 230,785 48 39,701 12.5% 9.2%
La Condamine 216,762 45 41,664 11.8% 8.7%
La Rousse 314,138 141 35,332 17.1% 27.1%
Jardin Exotique (Exotic Garden) 209,154 60 28,333 11.4% 11.5%
Larvotto 130,228 4 Not significant 7.1% 0.8%
Les Moneghetti 192,761 59 32,147 10.5% 11.3%
Monaco-Ville 60,930 13 Not significant 3.3% 2.5%
Sainte-Devote 2,870 0 0.2% 0.0%
All districts 1,839,246 520 41,420 100.0% 100.0%

 

But, fortunately, market statistics are unlikely to sway your decision of your future neighbourhood. Your needs, your desires and your limitations must be considered alongside the advantages and disadvantages of each area, to guide your property search and hopefully lead to love at first sight!

 

And you, in which Monaco’s district are you going to invest?

We can assist you in preparing and organizing tour move to Monaco.

Do not hesitate to contact us!

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