Renovation in Monaco: what really drives up the value of a property in Monaco
In Monaco, the square metre is one of the most expensive in the world. In this context, a renovation that is well planned is not an expense: it is a driver of value. But not all renovations are worth the effort, and not all provide the same return. Some transform a property, whilst others cost a lot without adding anything to the price at resale.
For a homeowner who wishes to increase the value of their flat, here’s what really matters in the Principality, and the rules you need to be aware of before starting even the smallest renovation project.
This is what the market in Monaco rewards
Buyers in Monaco are looking for some criteria that are fairly specific, and it is they themselves who determine the value. First and foremost, the space and the light: spacious open-plan spaces, spacious living areas, generous, a smooth flow often take precedence over the the mere number of rooms. A flat well designed, which feels airy, sells better than a property with partitioned rooms of equivalent floor area.
Next come the features expected of a high-end property: a contemporary kitchen and bathrooms, high-quality materials, integrated home automation for lighting, sound systems and security, good sound insulation, and energy efficiency – a factor that is becoming increasingly crucial for an international clientele. Finally, everything that enhances the connection with the outdoors: a redesigned terrace, an opening that offers unobstructed views, and optimised exposure.
The optimisation of space, the real Monegasque lever
This is undoubtedly the aspect most specific to Monaco. Where the price per square metre reaches such heights, gaining usable space or combining two plots to create a rarer property has a direct – and often considerable – impact on value. Redesigning a layout to eliminate wasted space, transforming a large, standard flat into an exceptional property: this is one of the most sought-after – and most profitable – types of renovation in the Principality.
It is also the most technical, as it relates to the structure and regulations. Hence the importance of surrounding yourself with the right people right from the design stage.
What results can be expected from a renovation
Let’s be honest: there is no official percentage of value appreciation from renovation, and you should be wary of anyone who promises one. What the market shows, however, is clear. Recent or renovated properties trade at a distinct premium over those in need of refreshing, and 2025 saw a record number of resales, a significant share of them properties repositioned after renovation work. In other words, in Monaco, a well-renovated property doesn’t just sell better: it enters a more liquid and more highly valued market segment.
Authorisations: a step that should not be overlooked
In Monaco, you don’t tinker with a property in the way you might expect. Any works that alter the layout, the façade, the communal areas or the structure require prior authorisation, processed by the Directorate for Strategic Planning, of Town Planning and of Mobility, and the application must be drawn up by an architect registered with the Order of Architects of the Principality. The framework has been established for a long time by regulations governing Monegasque town planning.
On the other hand, the work that is purely cosmetic, such as refurbishing a kitchen, a bathroom, or painting, the floors or the paintwork without altering the layout, fall within a more flexible framework. In all the cases, the regulations governing co-ownership and information from the property manager are essential. Understanding this boundary before you start prevents any delays and any unpleasant surprises. This is one point that we check systematically with our clients who are property owners.
Trends in high-end renovation
Today’s international clientele expect a comprehensive experience. Home automation has become the norm, with centralised control of lighting, climate and security. Energy efficiency and sustainable materials are emerging as genuine value propositions, going beyond mere cost savings. And the demand for high-quality materials and craftsmanship has never been greater: at this level of the market, the finish makes all the difference.
Frequently Asked Questions
Which renovations add the most value to a property in Monaco?
Optimisation of space and volume, a kitchen and a number of bathrooms with contemporary designs, home automation, energy efficiency and everything that which brings out the light and the view. In Monaco, gaining more usable space has a particularly strong impact on value.
Do you need a permit to carry out renovation work in Monaco?
For works affecting the building’s services, façade, communal areas or structure, yes: prior authorisation is required, with a proposal drawn up by an architect registered with the Monaco Order of Architects. Purely aesthetic renovations are subject to less stringent requirements, but the property manager and the co-ownership regulations must still be consulted.
How much does a renovation add to the value?
There are no official figures, and one should be wary of promises of returns. The market shows nevertheless that a well renovated property sells for a higher price and falls within a sought-after segment.
Is it possible to extend or combine some flats in Monaco?
Combining two lots to create a much larger and rarer item is one of the most rewarding projects, but it affects the structure and the regulations: it requires a study and a permit in advance.
At Agence Continentale, we advise you before and after the works
Since 1948, Agence Continentale has understood what the Monegasque market truly values. Before embarking on a renovation, we help our property-owning clients identify the work that really matters and anticipate the regulatory framework. We then know how to showcase a renovated property to the right buyers.
Please contact us to discuss this: +377 93 50 54 64, info@continentale.mc
Sources
– Planning permission and town planning regulations, Directorate for Strategic Planning, Town Planning and Mobility (gouv.mc) / service-public-entreprises.gouv.mc – Order of Architects of the Principality of Monaco – Resale market 2025 (record resales), IMSEE / Monegasque press
