Two apartments located in Monaco’s Golden Square changed hands within days for a total amount exceeding 22 million euros. This double transaction, conducted by Kretz Real Estate, illustrates the specificities of a market where scarcity of properties and execution speed remain determining factors.
The luxury real estate market in Monaco has recorded a new major operation. Kretz Real Estate, known to the general public through the Netflix series The Agency, has finalized the sale of two apartments within days. Located in the Golden Square, the two properties are valued at a total amount exceeding 22 million euros.
The first property occupies the top floor of a historic building. The apartment offers views of the sea, the harbor, and the Formula 1 circuit. Renovation works are planned to exploit its potential.
The second property is located at Riviera Palace. The apartment, sold turnkey, enjoys views of the Casino gardens and the sea.
The two sales are directly linked. The owners of the first apartment acquired the second. The transaction was conducted by Elodie Stienlet, a specialist in the Monégasque market at Kretz Real Estate.
A real estate market where every opportunity matters
According to Kretz Real Estate, the success of this operation is based on connecting buyers and sellers already working with the agency, complemented by a strategy combining traditional marketing and off-market sales.
“Monaco is a unique market where everything comes down to scarcity, responsiveness, and network quality. This double transaction illustrates our ability to manage complex operations within very short timeframes, providing our clients with precise market insight and access to targeted opportunities”, notes Alexandre Bruneau, General Director of Kretz Real Estate.
Monaco’s real estate market remains one of the most expensive in the world. The average price exceeds 50,000 euros per square meter and some properties exceed 100,000 euros per square meter. In this context, available properties are scarce and international demand remains strong, particularly due to tax advantages that attract numerous fortunes.
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