Why is real estate so expensive in Monaco?

Why is real estate so expensive in Monaco?

Limited land availability: Monaco is a tiny city-state located on the French Riviera, covering an area of just over 2 square kilometers.

One of the most significant contributing factors to the high average property price in Monaco is the principality's limited land mass. With an area of just 2.02 km², Monaco is the second-smallest country in the world. As a result, the land is at a premium, and there is very little room for new construction.

One reason why real estate is extremely expensive in Monaco is the fact that this city-state is very wealthy. The availability of high levels of disposable income has led real estate owners to price their assets highly.