Nestled at the gates of the Principality, Beausoleil has become a haven for Monaco’s workforce and « the place to be » for investors seeking a close but more affordable alternative. With an extremely tight rental market, robust demand, and upscale projects in the pipeline, Beausoleil’s real estate market shows no signs of slowing down.
Bordering Monaco, Beausoleil enjoys a prime location that continuously enhances its value. The town attracts workers from Monaco who wish to avoid the heavy traffic and crowded public transportation faced by residents of Nice and Menton. Many are willing to pay a premium for the convenience of walking to work, even if it means living in a quiet residential area with few shops or activities.
Beausoleil is also highly attractive to investors aware of its rental potential, boosted by its touristic and economic appeal. « The market is very dynamic, prices keep rising. Each year, Monaco’s private sector creates hundreds of new jobs, leading to sustained demand, » notes Lionel Deplanche, an agent with Deplanche Immobilier.
A tight rental market
« On the rental market, demand far outweighs supply, » he explains, « so much so that for annual rentals, we don’t even need to advertise—there’s already a waiting list. » Studios and one-bedrooms are particularly sought after and experience high turnover.
Rental properties have always been scarce, but this shortage has worsened since many owners have opted for short-term rentals, such as Airbnb, rather than yearly leases. « The returns are attractive, though the management can be more complex, » Deplanche adds. This shift has made it increasingly difficult for locals to find housing.
High-income buyers support the sales market
The sales market is also highly active. « Everything sells if it’s priced right, » says Deplanche. « Some owners struggle to sell because they overestimate the value of their property and ignore market rates. But when they follow our advice, the average sale time is three months for apartments and six months for houses, » he explains.
The rise in interest rates over the past two years has reduced borrowing capacity for buyers with lower incomes, creating a certain hesitancy. However, high-income buyers have continued to purchase, « which has supported the sales market, » the agent notes. « With the recent drop in interest rates, we’re already seeing a resurgence in activity. We’re confident this trend will continue and lead to an increase in transactions in the coming year, » he says.
Aged but sought-after housing stock in the city center
The town center is the most desirable area, especially streets bordering Monaco, such as Avenue Camille Blanc, Boulevard Général Leclerc, Boulevard General de Gaulle, and Boulevard de la République. The historic district is favored for its lively atmosphere, with shops and a bustling market. The buildings are primarily Belle Époque structures, which offer charm but lack the modern amenities of newer constructions. The average price per square meter here is around €7,500, reflecting the diversity of transactions.
Prices ranging from €5,000 to €20,000 per square meter
On one end, there are older apartments needing renovation, often without elevators or parking, where prices hover around €5,000 per square meter. On the other end, renovated apartments in upscale residences can reach or exceed €10,000 per square meter. « A few sales have even surpassed €15,000 per square meter in luxury buildings or properties very close to Monaco. For example, an apartment with a terrace in a high-floor unit at L’Alcazar recently sold for €20,000 per square meter, » Deplanche reports.
Other highly sought-after buildings include L’Avant-scène and Sperare Qui, ideally located behind Monaco’s Pont Sainte Devote train station entrance. « Properties in these buildings rarely become available because once people buy, they stay for the long term, » he explains.
For investors, Palais Joséphine is also a favorite. This centrally located residence features a rooftop pool, amenities at ground level, and is just 50 meters from Monaco. Additionally, the part of the building that houses the Adagio hotel offers a reception service, which reassures some clients in terms of security. The rental yields here are very attractive. Higher up, Riviera Palace also attracts numerous buyers for its history, bourgeois character, and views over the Principality and the Mediterranean.
Boulevard Guynemer and its modern residences
Another highly desirable area, for different reasons, is Boulevard Guynemer, a long residential stretch near the Tour Odéon, where almost a dozen new constructions have been completed in the past decade. Although farther from Monaco, this sector offers modern, upscale residences with quality features and often swimming pools.
Here, average prices are between €7,000 and €8,000 per square meter, and can go up to €12,000 per square meter for the most prestigious penthouse apartments in recent buildings. Similarly, in the middle corniche area, popular residences like Beauséjour, Monachetto, and Palazzo Grima see some sales reach €10,000 per square meter.
The Moneghetti district for more modest budgets
In the Moneghetti neighborhood, which borders Monaco near the Exotic Garden, demand is somewhat lower, and so are prices—about €6,000 per square meter, according to Deplanche. Many buildings here were constructed in the 1960s to 1980s, often with terraces and, in some cases, parking spaces, but they lack modern amenities and the charm of older architecture. Additionally, this area does not have the convenience of the escalators present in the town center.
Where are houses still available?
Single-family homes are primarily found along Chemin de Grima, Chemin de la Bordina, and Chemin de la Crémaillère, where villas can be worth several million euros. A few standalone houses remain on Boulevard Guynemer as well. « These are likely to disappear eventually, as Beausoleil’s zoning regulations permit substantial building height and ground coverage in this area, » Deplanche notes.
New developments on the rise
Several new developments are expanding Beausoleil’s housing stock. Monte Vista, a boutique residence with 11 units, an infinity pool, and panoramic views of the Mediterranean, was recently completed near the Vistaero junction. « The 29, » located at 29 Rue de Vilaine in the Moneghetti neighborhood, comprises 30 apartments with a rooftop pool, with an average sale price of €12,000 per square meter. It is expected to be completed by 2025. Another upcoming project, L’Olympe, designed by architect Jean-Michel Wilmotte, will feature 40 apartments, from studios to six-bedroom units, all with parking, and is located directly behind the FANB high school near Monaco. Additionally, « 16 Langevin, » a project at 16 Rue Professeur Langevin, will offer apartments from studios to five-bedrooms, with rooftop terraces. Finally, « L’Air du Temps, » a new residence on Rue Pasteur, has recently been completed, and all units intended for long-term rental were quickly occupied.
