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Economy

In Monaco, the most expensive real estate market in the world, prices start at 30,000 euros per m²

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

Monaco’s Real Estate Market Reaches New Heights: €380 Million Penthouse Sets Global Record

Monaco – In a stunning display of wealth and exclusivity, Monaco has once again cemented its status as the world’s most expensive real estate market. Breaking news reveals the existence of a penthouse within the Odeon Tower, a double 49-story skyscraper, valued at an astonishing €380 million. This lavish residence, boasting a 3,300 m² footprint spread across five levels and complete with its own swimming pool, is setting a new benchmark for luxury living.

The Ultra-Exclusive World of Monaco Property

Forget average prices. While entry-level Monaco properties start around €30,000 per square meter, transactions routinely exceed €80,000 and even reach €100,000 per square meter. This isn’t just about bricks and mortar; it’s about securing a foothold in a principality renowned for its security, favorable tax climate, and sophisticated lifestyle. The demand is fueled by international buyers seeking a safe haven for their wealth and a place to enjoy a life of unparalleled luxury.

The Odeon Tower, home to the world’s most expensive apartment.

A Principality Transformed

Monaco’s allure isn’t accidental. Under the leadership of Prince Albert, the principality has undergone a significant modernization. Historic hotels have been meticulously renovated, and the new One Monte-Carlo district offers a cutting-edge shopping and entertainment experience. As Alexander Kraft, owner and managing director of Sotheby’s International Realty in France and Monaco, explains, “Monaco today combines a village atmosphere with the assets of a big city.” Kraft, a 20-year resident, emphasizes the feeling of security that draws wealthy individuals to the region: “They feel shelter there. The crime is almost zero and they appreciate walking with luxury watches and driving in large cars without having any problems.”

Beyond the Penthouse: Exploring Monaco’s Property Landscape

While the Odeon Tower penthouse grabs headlines, the entire Monaco property market is experiencing robust growth. The Condamine shopping district, located near Hercules Port, offers relatively “reasonable” prices – starting at €30,000 per square meter – making it a popular choice for those seeking a more accessible entry point into Monaco’s luxury market. However, even these “reasonable” prices are significantly higher than those found in most major global cities.

Hercules Port Monaco

The Condamine district offers a slightly more accessible entry point into Monaco’s property market.

Investing in Prestige: A Long-Term Perspective

Monaco’s real estate isn’t just a purchase; it’s an investment in prestige and a lifestyle. The limited land area and consistently high demand ensure that property values are likely to remain strong for the foreseeable future. For investors seeking a secure and potentially lucrative asset, Monaco presents a compelling opportunity. Understanding the nuances of the market – from the micro-location within the principality to the specific features of each property – is crucial for maximizing returns. This breaking news serves as a potent reminder of Monaco’s enduring appeal and its position at the pinnacle of the global luxury real estate market. Staying informed about these trends is vital for anyone considering an investment in this exclusive enclave.

For more in-depth analysis of global real estate trends and investment opportunities, explore Archyde’s comprehensive coverage and expert insights. Don’t miss out on the latest breaking news and market updates – subscribe to our newsletter today!

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Entertainment

Angelina Jolie Plans to List $24.5 Million Los Angeles Estate for Sale

by Marina Collins - Entertainment Editor
written by Marina Collins - Entertainment Editor

Actress Angelina Jolie is said to be getting ready to part ways with the historic Los Angeles estate that she has called home for the last eight years, as she prepares for a move away from the U.S.

According to multiple reports, the Oscar-winning starlet is planning to “put the house up for sale” in the coming months with a view to relocating abroad when her youngest children, twins Knox and Vivienne, turn 18 in July next year.

Jolie, 50, has previously revealed her desire to live outside of the U.S., telling The Hollywood Reporter that she was only residing in California because it was one of the conditions of her divorce settlement from her ex-husband, Brad Pitt.

Speaking to the outlet about the terms of the agreement with Pitt, 61, in the 2024 interview, Jolie revealed that she was bound to remain in L.A. until all of their children reach the age of 18, admitting at the time that she hoped to spend “a lot of time in Cambodia” when she leaves.

Now, as that date approaches, sources claim that Jolie is beginning to make preparations for her exit from U.S. soil, with an insider telling People: “[Angelina] plans to relocate as soon as Knox and Viv turn 18 next year. She’s eyeing several locations abroad. She’ll be very happy when she’s able to leave Los Angeles.”

“[She] never wanted to live in L.A. full time. She didn’t have a choice because of the custody arrangement with Brad.”

Actress Angelina Jolie is said to be getting ready to part ways with the historic LA estate that she has called home for the last eight years. Anadolu via Getty Images

Part of those preparations, the insider said, will be making some minor improvements to her historic home, which is known as the Cecil B. DeMille estate in honor of the famed director, who lived there for 40 years until his death in 1959.

Jolie took on that slice of Hollywood history in 2017, when she purchased the property for $24.5 million—later explaining that she had chosen the home because of its proximity to her former spouse, from whom she split in 2016.

“I wanted it to be close to their dad, who is only five minutes away,” she told British Vogue in 2021.

After her separation from Pitt, with whom she shares six children: Maddox, 24, Pax, 21, Zahara, 20, Shiloh, 19, Knox, and Vivienne, the pair became embroiled in a bitter divorce battle that saw them sparring over custody arrangements, shared properties, and even involved allegations of abuse.

According to multiple reports, Jolie is planning to “put the house up for sale” in the coming months. nobyline@backgrid / BACKGRID

That legal battle raged on for eight years before finally being settled in December 2024.

And while both parties have only shared a few scant details about their split, Jolie did hint at some of the legal details agreed upon by herself and Pitt when she spoke out about the nature of their custody agreement and the restraints that it has put on her life.

“I grew up in this town. I am here because I have to be here from a divorce, but as soon as they’re 18, I’ll be able to leave,” she told The Hollywood Reporter about her reasons for remaining in Los Angeles.

“When you have a big family, you want them to have privacy, peace, safety. I have a house now to raise my children, but sometimes this place can be … that humanity that I found across the world is not what I grew up with here. [After Los Angeles,] I’ll spend a lot of time in Cambodia. I’ll spend time visiting my family members wherever they may be in the world.”

The property features six bedrooms, ten bathrooms, and an array of amenities. nobyline@backgrid / BACKGRID

For much of the time since her split from Pitt, Jolie has resided primarily in the historic 11,000-square-foot abode in Los Feliz, which was built back in 1913, and boasts six bedrooms and 10 bathrooms.

In addition to its many bedrooms and bathrooms, the Beaux Arts-style mansion, which was built in 1913, also offers an array of living spaces, including a “beautiful pool house” and a “studio house” that has its own entrance.

And while the home maintains its historic appearance, it underwent an extensive six-year renovation before Jolie purchased it—with the picture-perfect grounds and the swimming pool also given a meticulous overhaul.

Jolie, 50, has previously revealed her desire to live outside of the U.S. WireImage

“A newer classic old Hollywood style pool with arched fountains, surrounded by rolling lawns, specimen trees, rose gardens, and dramatic views from the Observatory to Ocean sunsets,” the original listing description said.

Should Jolie follow through with her plans to move abroad, she will join a long line of celebrities who have quit the U.S. in recent months—with many pointing to President Donald Trump’s reelection as the reason for their relocation.

Among those who have fled further afield are actress Rosie O’Donnell, who revealed in January that she had moved to Ireland along with her youngest child, Dakota “Clay” O’Donnell, 12, who is nonbinary.

Jolie revealed that she was bound to remain in L.A. until all of their children reach the age of 18. AFP via Getty Images

At the time, O’Donnell said that she no longer felt “safe” living in the U.S. under Trump’s presidency—a declaration that saw him threatening to revoke her citizenship for good.

Meanwhile, Ellen DeGeneres recently confirmed for the first time that her decision to move to the U.K. with her wife, Portia de Rossi, was prompted by Trump’s victory in the 2024 election, telling British broadcaster Richard Bacon that they had originally only intended to reside in the country for a few months out of the year.

“We got here the day before the election and woke up to lots of texts from our friends with crying emojis, and I was like, ‘He got in,’” she explained during a July 20 appearance at the Everyman theater in Cheltenham, England. “And we’re like, ‘We’re staying here.’”

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Economy

Culebra Private Estate: $16.9M Oceanfront Retreat

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

The $16.9 Million Escape: Why Culebra’s Luxury Real Estate Signals a Shift in High-Net-Worth Priorities

The recent listing of a Culebra estate for $16.9 million isn’t just about a single property; it’s a bellwether for a growing trend. High-net-worth individuals are increasingly prioritizing remote privacy and self-sufficiency, driving demand – and prices – for secluded properties in locations like this Caribbean island. This isn’t simply a pandemic-fueled blip; it’s a recalibration of values with long-term implications for the luxury real estate market and beyond.

The Allure of “Unmatched Privacy” in a Connected World

The listing, as reported by The New Day, emphasizes “unmatched privacy.” This isn’t accidental. For years, the ultra-wealthy have faced increasing scrutiny, both public and digital. Concerns about data security, physical safety, and simply escaping the constant connectivity of modern life are fueling a desire for true seclusion. Culebra, with its limited access and relatively small population, offers a level of anonymity increasingly difficult to find elsewhere.

This demand extends beyond simply hiding from paparazzi. It’s about control – control over one’s environment, security, and information. The rise of sophisticated surveillance technologies and the increasing frequency of cyberattacks are prompting a re-evaluation of traditional security measures. Physical isolation, coupled with robust cybersecurity infrastructure, is becoming a key component of a comprehensive protection strategy.

Beyond Luxury: The Rise of Resilience Estates

We’re seeing a shift from purely luxurious properties to what I call “resilience estates.” These aren’t just about opulent finishes and stunning views; they’re designed to withstand disruptions – whether those are natural disasters, economic instability, or geopolitical events. Features like self-sufficient power generation (solar, wind), water purification systems, and on-site food production are becoming increasingly common in high-end developments. Culebra’s relative isolation actually *enhances* the appeal of these features, as reliance on external infrastructure is minimized.

This trend is reflected in broader investment patterns. A recent report by Knight Frank highlighted a significant increase in demand for “rural retreats” among ultra-high-net-worth individuals (UHNWIs), with a focus on properties offering both privacy and self-sufficiency. Knight Frank Luxury Lifestyle Trends

Culebra as a Case Study: Island Real Estate and Future Trends

Culebra isn’t alone in experiencing this surge in demand. Other remote island locations – think the Bahamas, the Maldives, and parts of the Scottish Highlands – are also seeing increased interest from wealthy buyers. However, Culebra’s unique position as a U.S. territory offers certain advantages, including ease of access for American citizens and a stable legal framework.

Several factors are likely to accelerate this trend in the coming years:

  • Increased Geopolitical Uncertainty: Global instability will continue to drive demand for safe havens.
  • Advancements in Technology: Remote work capabilities and the increasing sophistication of security technologies will make it easier to live and work remotely.
  • Climate Change Concerns: Rising sea levels and extreme weather events will make certain coastal properties less desirable, driving demand for higher-elevation or more resilient locations.

The Impact on Local Economies

The influx of wealthy residents can have a significant impact on local economies. While it can bring economic benefits – increased tax revenue, job creation – it also poses challenges, such as rising property values and potential displacement of local communities. Sustainable development practices and careful planning are crucial to ensure that these benefits are shared equitably.

Furthermore, the demand for specialized services – cybersecurity, estate management, private healthcare – will likely grow, creating new economic opportunities for skilled professionals.

The $16.9 million price tag on this Culebra estate is a stark reminder that privacy, security, and self-sufficiency are becoming increasingly valuable commodities. It’s a trend that’s likely to reshape the luxury real estate market and redefine the concept of “home” for the world’s wealthiest individuals. What are your predictions for the future of luxury real estate in the face of these shifting priorities? Share your thoughts in the comments below!

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News

NYC Luxury Renters: A Shift in the Market

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

Luxury Rental Boom: Are Economic Jitters Driving the Wealthy to Rent in NYC?

Table of Contents

Amidst market volatility and tariff announcements, a growing number of affluent individuals are choosing luxury rentals over property purchases in New York City.Are economic anxieties reshaping the city’s real estate landscape and fueling an unprecedented demand for high-end rentals? This trend raises critical questions about investment strategies, market resilience, and the future of luxury living in the Big Apple.

The Anxious Affluent: Why Wealthy Renters Are on the Rise

Brokers in New York City’s high-end real estate market are observing a notable shift: prospective buyers,rattled by economic uncertainties,are increasingly drawn to luxury rentals. The unpredictable market swings, compounded by skepticism regarding real estate investment returns, have prompted a segment of the city’s wealthy population to adopt a cautious approach. This hesitancy primarily affects those who, while affluent, still rely on financing and stock market assets for their purchases.

Did You Know? in May 2024,Manhattan apartments rented for $20,000 or more saw a 28% increase compared to April of the same year. furthermore,data indicated a roughly 30% surge in luxury unit rentals during the first four months of 2025.

From Buyer to Renter: A Shift in Mindset

Real estate agents have noted a engaging pattern: many individuals initially expressing interest in sales listings are now inquiring about rental options. This trend suggests a desire among potential buyers to “test drive” neighborhoods before making a long-term commitment.Though, most sellers are resistant to the idea of renting out their high-end properties, preferring to avoid the potential wear and tear caused by tenants.

Market Resilience or Fleeting Trend? Decoding the Data

Despite the rise in luxury rentals,multimillion-dollar sales remain robust,signaling a complex and multifaceted market. Following an initial dip in contract signings triggered by tariff announcements, the luxury market demonstrated resilience.

Donna Olshan, a market analyst, noted that contract signings for sales of $4 million and higher through May 4 were up 13 percent from the previous year. This suggests that while some high-net-worth individuals are cautious, others are seizing opportunities in what they perceive as a buyer’s market.

Pro Tip: If you’re considering entering the luxury rental market, research neighborhood trends and consult with real estate professionals to understand current market dynamics. Negotiate lease terms that provide adaptability while ensuring your investment is protected.

The Tax Advantage: Renting as a Strategic Financial Move

One factor driving the rental trend among the wealthy is the strategic advantage of reducing tax burdens. Many high-net-worth individuals prefer renting to avoid establishing New York as their primary residence for tax purposes. This allows them to maintain financial flexibility while enjoying the benefits of living in the city.

Case Study: Securing Stability in Uncertain Times

Consider the case of a five-bedroom townhouse in Boerum Hill, priced at nearly $22,000 a month, which attracted significant interest and multiple applications within days. The broker, Bill Kowalczuk, successfully rented out the property in less than two weeks, even securing concessions from the tenant, including steep penalties for early lease termination. This example highlights the demand for high-end rentals and the measures taken to ensure stability in an uncertain market.

The tenant is now locked in with steep penalties included in the deal if the tenant tries to break the lease before the two-year contract is up.

Analyzing the Luxury real estate Market

The following table provides an overview of key trends in the luxury real estate market:

Trend Description Impact
Increased Luxury Rentals More affluent individuals are choosing to rent high-end properties. Higher demand for luxury rentals, potential impact on property values.
Economic Uncertainty Market volatility and tariff concerns are driving cautious behavior. Hesitancy among buyers, increased interest in flexible rental options.
Strategic Tax Planning Wealthy renters avoid establishing primary residence for tax benefits. Financial advantages for renters, potential revenue implications for the city.
Market Resilience Multimillion-dollar sales remain robust despite economic jitters. Demonstrates strength in the high-end market, diverse investment strategies.

Reader Question

what factors do you believe will have the biggest impact on the luxury real estate market in the next few years?

Frequently Asked Questions (FAQs)

Why are more wealthy people renting in NYC?

Economic uncertainty and the desire for financial flexibility are key factors. Many affluent individuals are hesitant to commit to property purchases amidst market volatility, while others seek to avoid high taxes by not establishing primary residence in NYC.

Is the luxury real estate market in NYC declining?

No,while there’s an increase in luxury rentals,multimillion-dollar sales remain strong. The market is evolving, with different segments responding differently to economic conditions.

what are the benefits of renting a luxury apartment in NYC?

renting offers flexibility,reduces the financial burden of property ownership,and allows individuals to “test drive” neighborhoods before committing to a purchase. Additionally, it can provide tax advantages for high-net-worth individuals.

In what ways might the increasing popularity of luxury rentals impact the long-term demand for luxury home purchases in New york City?

Luxury Rental Boom: A Conversation with real Estate Analyst, Evelyn Reed

Archyde News Editor: Welcome, Evelyn. It’s a pleasure to have you with us today to discuss the intriguing trends we’re seeing in New york City’s luxury real estate market. the shift towards luxury rentals is a fascinating progress. Can you start by giving us your perspective on why we’re seeing this surge?

Evelyn Reed:

Evelyn Reed: Thank you for having me. The rise in luxury rentals is a multifaceted phenomenon, but at its core, it’s driven by economic uncertainty. We’re seeing a level of wariness among affluent individuals, especially those who rely on financing and investments to purchase property. The unpredictable market swings and skepticism around real estate returns, given the global economic climate, are leading many to adopt a more cautious stance. Renting offers a level of adaptability and allows them to “weather the storm,” so to speak.

Archyde News Editor:

Archyde News Editor:That makes perfect sense. Data indicates a significant increase in luxury rentals. In May 2024,apartments rented for $20,000 or more saw a 28% increase,and there was roughly a 30% surge in luxury unit rentals observed during the initial four months of 2025. How do you interpret these numbers?

Evelyn Reed:

Evelyn Reed:The substantial rise in these numbers validates the shift we’re discussing. These figures suggest that a considerable portion of the high-net-worth demographic is choosing the rental market over purchasing. It’s not simply a minor adjustment; it’s a real trend that’s reshaping the landscape of high-end real estate. What’s particularly captivating is how quickly this trend took hold earlier this year.

Archyde News Editor:

Archyde News Editor: Indeed. We’ve also seen reports of agents noting a change in client behavior, with potential buyers inquiring about rentals instead. In your experience, what are the key motivations behind this change in mindset?

Evelyn Reed:

Evelyn Reed: From my observations, it truly seems as though many potential buyers seek to “test drive” a particular neighborhood before making a long-term commitment. They might use renting as a way to experience the lifestyle and amenities of an area before making a purchase decision. Additionally,the financial flexibility renting provides is an attractive factor,especially with the added tax advantages for those who do not establish the location as their primary residence.

Archyde News Editor:

Archyde News Editor: Speaking of financial benefits, tax advantages are also a significant motivator.How does renting strategically impact the tax burdens of high-net-worth individuals and how does this affect the real estate trends?

Evelyn Reed:

Evelyn Reed: The tax implications are significant. By renting, wealthy individuals can avoid establishing New York as their primary residence for tax purposes, and they have no property taxes. This allows them to maintain financial flexibility with possibly higher returns on their liquid assets. This factor, combined with market volatility, makes renting a very attractive option.

Archyde News Editor:

Archyde News Editor: Despite the increase in rentals, we certainly know that multimillion-dollar sales are active and doing really well. What does the resilience of the luxury sales market tell us about the overall health of the market and the different investment strategies involved?

Evelyn Reed:

Evelyn Reed: It indicates that the luxury market is complex. While some are cautious,others see opportunities,especially in what is considered a buyer’s market. High-net-worth individuals often have diverse investment portfolios, and can afford to absorb a degree of risk. This sector of the market is very strong despite the economic uncertainties.

Archyde News Editor:

Archyde News Editor: Now, let’s talk about the practicalities. A case study mentioned a five-bedroom townhouse in Boerum Hill that rented quickly.In such a competitive luxury rental market, what measures are being taken to ensure stability for both landlords and tenants?

Evelyn Reed:

Evelyn Reed: The demand is clearly there, as seen in the Boerum Hill case. Landlords often secure stability by demanding hefty penalties for early lease termination, and also thoroughly vetting potential tenants. Long-term leases are also becoming more popular.

Archyde News Editor:

Archyde News Editor: looking ahead,what factors do you believe will have the biggest impact on the luxury real estate market in the next few years?

Evelyn Reed:

Evelyn Reed: Economic conditions will be key,particularly interest rate fluctuations and global economic performance. Any changes in tax laws or regulations could also greatly shift buying and renting interests. The availability of luxury rental properties continues to change, and these moves will also determine the direction of the market.

Archyde News Editor:

Archyde News Editor: Evelyn, thank you so much for your insightful analysis. It’s been a pleasure having you share your expertise with our readers.

Evelyn Reed:

Evelyn Reed: my pleasure. Thank you for having me.

We’d love to hear your thoughts! what do you think will drive the luxury real estate market in the next few years? Share your predictions in the comments below.

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