The Monte-Carlo district
The Monte-Carlo district is the central district of Monaco, the most prestigious and best known of the seven districts of Monaco.
The Monte Carlo district in figures
The Monte-Carlo district is the largest district of Monaco. It covers 21.5% of the Principality’s area with 436,760 m2. This district is slightly denser than average. The built surface amounts to 481,618 m2, or 1.86 times the area of the district, while the Monaco average is 1.49.
Monte-Carlo offers many opportunities for housing in the Principality, because a large part of the built surfaces are dedicated to housing (59%) unlike the district of Fontvieille where only 40% of the built surfaces are occupied by housing. In addition, the Monte-Carlo real estate market is active, with 150 resales in 2016 and 117 in 2017, representing 29% of the transactions in Monaco.
The average price per square meter in Monte Carlo was 44 094€ in 2017, the highest of the different Monegasque neighborhoods, with the exception of Larvotto. The average price per square meter of the Principality amounted to 41 335€ in 2017.
A little history of the Monte Carlo district
The central area of Monaco was named Monte-Carlo on July 1st, 1866, in honor of Prince Charles III of Monaco. Prince Charles III, in search of financial resources for the Principality, decided in 1856 to authorize the construction of a casino in Monaco. In 1863, François Blanc became the concessionnaire of the Casino, raised on the plateau of Spélugues. He creates the “Société des Bains de Mer” and launches the successful development of the Principality in the fields of luxury and games. In a few years, the emblematic places of Monte-Carlo came out of the ground, with the construction of a new Casino, the Hotel de Paris, the Café de Paris, the Opera House …
The center of Monte-Carlo, the most prestigious place in the Principality, is called the “Carré d’Or” (Golden Square). It is bounded by Hermitage Hotel to the south, Mirabeau to the north, Park Palace to the west and Monte-Carlo Star to the east. The Golden Square is an airy district with the presence of many gardens and plants.
Some famous arteries cross the district of Monte Carlo:
Boulevard des Moulins
Avenue of Great Britain
Costa Avenue
Spélugues Avenue
Princess Charlotte Blvd
The forces of the district of Monte-Carlo:
- Monaco’s most exclusive neighborhood, both lively and residential
- Exceptional establishments, hotels and restaurants
- Belle Epoque style
- Easy access to the Principality as a whole
- Dynamic real estate market
The weaknesses of the Monte Carlo district:
- High property prices
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