In 2012, the value of transactions in the property market has reached €1.1 billion, hitting the record levels of the pre-crisis 2008, according to ee24.com citing opp-connect.com and savills.co.uk.
Eduardo Chacon, general manager of Icon Property, says that Monaco differs from other countries by its strong economy and the extremely high property prices . Also, not being a member of the European Union, the country is not experiencing negative trends other 28 states of the continent are.
In 2013, Monaco was ranked 5th in Prime Enclave Index. It is based on the average prices of luxury real estate and the interest of buyers to exclusive properties. The average price of apartments with five bedrooms is about € 17.5 million.