You are the owner of a property in the Principality of Monaco and wish to determine its exact market value? Whether you are considering selling your estate, or simply seeking information, knowing the value of your real estate will allow you to make the most appropriate and reliable decisions to achieve your objectives. Our team is here to guide you through this process.
The various aspects of our expertise
In order to carry out a fair assessment of your property, our team of experts is at your disposal to share our knowledge of the market and to offer you the benefit of our expertise in the Monégasque real estate sector.
To evaluate the market value of a property, several points must be taken into consideration:
- The neighbourhood
- Its location and reputation
- Proximity to amenities (shops, schools, transport, etc.)
- The unique characteristics of each property
- The type of building
- The size and floor plan
- Improvements that have been made
- The age of the property
- The condition of the property
- The state of the market
- An examination of prior and recent transactions for the same type of property
- The correlation between the apartment price and its rental value.
These are some of the key factors we use to assess the fairest price for your property.
Given that data relating to property sales in Monaco are not public and that prices are subject to significant fluctuations between different neighbourhoods or even from one building to another (what is known as a "micro-market") within the principality, it is particularly important for our team to rely on our proven methods in order to determine the most accurate value of your property and to avoid any subjectivity.
Our various valuation methods
The comparison method
This method uses the value of comparable properties that have been sold recently to determine the value of a property. It therefore involves cross-referencing and analysing recent transactions concerning properties with strong similarities, in order to draw conclusions regarding the price assessment.
The income capitalisation method
This method approaches property valuation by using either the actual annual income of the property, or a theoretical income, to determine its fair market value.
Objectivity and accuracy
Throughout the valuation and sales process, it is essential to maintain an objective position and to corroborate each valuation assumption with solid evidence by using the aforementioned valuation methods.
For example, it may be of interest, though often misleading, to look solely at the prices of other properties for sale in the same area; however, these do not necessarily present a reliable and objective picture of market conditions, and may instead be influenced by individual circumstances and the seller's own decisions. It is therefore advisable to turn to proven valuation methods and qualified advice, rather than following common interpretations. This principle helps to ensure that the process runs smoothly and that reliable results are obtained.
Bearing this complexity in mind, our qualified team is more than eager to guide and support you throughout the valuation process and the potential sale of your property. The Monégasque real estate market is certainly as unique as the Principality itself, and we therefore consider our greatest objective to be acting as a trustworthy and honest institution within this micro-market.
L'Agence de la Gare also assists you with your property purchase and sale projects in Monaco.