Built on around 15 acres reclaimed from the Mediterranean Sea, Monaco's new Mareterra district has established itself as the most expensive residential neighborhood in the world. The roughly two billion euro development, completed at the end of 2024, brings together more than a hundred ultra luxury residences across two towers along with ten villas, seven of them waterfront, designed by architects including Renzo Piano, Norman Foster and Tadao Ando.
Prices there regularly reach between 100,000 and 150,000 euros per square metre, well above the principality's already high averages. The record was broken last April when Ukrainian billionaire Rinat Akhmetov, Ukraine's richest man, bought a Mareterra penthouse for around 550 million dollars, the most expensive single home transaction ever recorded. The property spans five floors and 21 rooms across more than 2,500 square metres of living space, with terraces overlooking the Monaco Grand Prix track, a private pool, a jacuzzi and at least eight parking spots.
The district also counts several Formula 1 drivers among its residents. Le Renzo, one of Mareterra's most sought after towers, is home to Max Verstappen, Charles Leclerc and Fernando Alonso, where units have been listed from around 65 million euros.
Nicknamed the billionaires' district, Mareterra now surpasses addresses as iconic as those of New York, London or Hong Kong for the density and regularity of its record prices, underscoring Monaco's standing as the city with the highest concentration of billionaires per capita in the world.