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Monaco Has Highest Real Estate Prices Among European Resort Cities


(MOSCOW, RUSSIA) -- Monaco has the highest real estate prices among all the European resorts, suggests a study carried out by the Russian consulting agency "MAR Consult".

Currently the cost of one square meter in high-class apartment buildings in the principality amounts to EUR 84,500 euro.

The second place is occupied by France, where the cost of one meter is 38.3 thousand euros, followed by Spain (13 thousand euros for 1 sq. m.) and Denmark (12.9 euros for 1 sq. m.).

Russia was not included in the top five. During the second half of 2009 real estate prices in Sochi (future capital of Olympics 2014) decreased by 4.46% up to 10.7 euros per square meter.

Estonia, Albania and Romania are among the most affordable European resorts. Currently real estate prices in these countries do not exceed 2,500, 1,500 and 1,200 EUR per sq. meter. respectively.

The most expensive European apartments are located in Monte Carlo's luxury Seaside Plaza, while the cheapest in Corallia apartment buildings in the Romanian resort of Mamae.

According to analysts, in 2009 prices for elite real estate fell in most countries represented in the MAR Consult rating. The largest decline observed in Montenegro, where prices decreased by 9%, as well as Ireland (-8.4%).

A slight decrease observed in Albania (-0.6%) and Spain (-0.7%). Prices in Monaco, Portugal, Belgium and Sweden remained unchanged compared to 2008.

 
List of Top 25 European Resort Markets

1.  Monaco, Fontvieille/ Monaco, Sea Side Plaza, 84 500 euro / m²
2.  France, Croisette/ Cannes, Boulevard de la Croisette, 104, 38 200 euro / m²
3.  Denmark, Tuborg Harbour/Hellerup/ Copenhagen(Kobenhavn),Tuborg Boulevard 15.2.th, 13600 euro / m²
4.  Spain, Puerto Banus, Laguna de Banus, 13 100 euro / m²
5.  Russia, Svetlana region / Sochi, Millenium Tower, 11 400 euro / m²
6.  Finland, Helsinki, Eiranranta 5, 11 200 euro / m²
7.  Great Britain, Brighton / Brighton and Hove, Valance Gardens, 1,10 100 euro / m²
8.  Italy, Viareggio/ Toscana, Via Rosolino Pilo, 2, 10 000 euro / m²
9.  Cyprus, Limassol, Monica Court, 9 300 euro / m²
10.  Malta, Sliema, Portomaso Tower, 9 200 euro / m²
11.  Ireland,Killine Bay, The Court, 7 100 euro / m²
12 . Portugal, Estoril, Estoril Sol, 6 500 euro / m²
13.  Ukraine, Primorsky Park / Yalta, Appart Hotel, 6 400 euro / m²
14.  Latvia, Lielupe/ Jurmala, Aristos, 6 300 euro / m²
15.  Norway, Stavanger, Sentrum, 6 200 euro / m²
16.  Poland, Gdynia, Sea Towers, 5 400 euro / m²
17.  Belgium, Het Zoute / Knokke Heist, Zoute Palace, 5 300 euro / m²
18.  Germany, Rugen, Konsulweg strasse, 1C, 5 100 euro / m²
19.  Netherlands, Nordwijck, Les Dunes, 9, 4 800 euro / m²
20.  Montenegro, Budva, Solemar, 4 400 euro / m²
21.  Bulgaria, Sveti Vlas / Burgas Province, Casa Real, 3 200 euro / m²
22.  Sweden, Malmo, Salongsgatan 17, 2 800 euro / m²
23.  Estonia, Merirahu/ Tallinn, Klipperi Maja, 2 650 euro / m²
24.  Albania, Durres, Lagia Plazh 13, 1 600 euro / m²
25.  Romania, Mamaia / Constanta, Corallia, 1 400 euro / m²



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