That's higher than some of the most expensive housing markets in the world, such as New York City and Hong Kong. In Hong Kong, the average price pre square foot is $2,859, while in Manhattan, real estate costs an average of $1,773 per square foot, according to NeighborhoodX.
For a small one-bedroom apartment in Monaco, buyers can expect to pay at least $1.6 million, Alexander Kraft, chairman and CEO of Sotheby's International Realty France–Monaco, told Mansion Global.
Most "normal" apartments in the city-state cost between $2.2 million and $22.3 million, Kraft said, with the higher end penthouses going for more than $55 million.
And prices are only going up — they've jumped more than 18% since 2017, according to Bloomberg.