The Colombia attacker impressed with his displays in the World Cup, scoring six times to lead the chase for the Golden Boot, before bowing out in the quarter-finals following a 2-1 defeat to Brazil.
There has been intense speculation over the future of the winger and James himself has added further fuel to the speculation by underlining his desire to play for Madrid.
"Now I'm enjoying a little holiday after the World Cup," the 22-year-old told Marca.
"I think it has been very positive for me and Colombia. Then there will be the opportunity and time to talk about the market.
"I'm very well in Monaco, but of course I would come to Real Madrid even with my eyes closed."
James only left Porto for Monaco in a €45 million deal in the summer of 2013, going on to score ten in 38 appearances for the principality outfit last term.