The prices in real estate in Monaco, in the Nelson Bays region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Monaco has had a strong decrease during the last 6 months. In November, the average price per m² was $6,125. In the following month the price per m² decreased to $5,717. The price for the following two months in (January, February) had a considerable decrease of 55 with regard to the prior two months. The price per m² has had a considerable increase of 140 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of $4,581.25 to $6,396 during March, and April.
Based upon to the price in Monaco (suburbs), this has fallen considerably in the last 6 months. The average price during our first sample month during November, is $629,000. During December the price went through a considerable rise reaching $766,167. During the following two months (January, February) the average price had a considerable reduction of 45 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 121 % during the last two months.