Buying real estate in Monaco is more than just owning a few square meters. It is your entry ticket to an exclusive universe, a mark of status and prestige, a lucrative investment that would pay off over time. Whether you are relocating, obtaining residency or starting a business, securing your home in Monaco is crucial.
Property buying procedure is strictly regulated here, with every stage formalized and overseen by Monaco government authorities. Unlike many other countries, there is virtually no legal ambiguity here with everything designed to ensure a maximum transparency and transaction security.
Buying Property in Monaco
To start with, define the type of property you are looking for. What should you focus on first? Budget, number of rooms, neighborhood, local infrastructure (schools, kindergartens, shops, beaches) and your move-in deadline.
Almost all transactions are handled through real estate agencies. Contact a licensed one — or better, a few. A significant part of properties is not even publicly advertised and is accessible through professional databases only. Licensed agencies must be registered with the Chambre Immobilière Monégasque (CIM) – a government-recognized professional association. Meeting a rigorous selection process, financial and professional standards, over 100 agencies operate legally in Monaco.
Real estate agencies have their properties displayed all over Monaco. Size and prestige may not be the deciding factor here. Even small agencies may have some exclusive properties on offer.
Once your choice is made, a written offer (offre d’achat) is submitted, outlining the price and key terms. Upon acceptance, the parties proceed to a preliminary agreement drafting—(compromis de vente) formalizing the transaction to come.
Next comes the due diligence – looking into the property’s legal status, making sure there are no encumbrances and complying with the current regulations. Guaranteeing the Monaco property market transparency and reliability, this stage is crucial.
Signing the notarial deed (acte authentique) is the final stage whereupon ownership is officially passed on to the buyer. Depending on the transaction complexity, the entire process typically takes between one and three months.
Notary fees
The notary part is crucial in any real estate transaction. Unlike other jurisdictions, the notary does not act as a party representative but rather an independent official, acting on behalf of the state.
His involvement is mandatory at every stage, from preparing the documents to ownership registering. The notary certifies the transaction is legal, verifies the property’s legal status and ensures its compliance with the Principality’s laws.
Property prices
The Principality’s real estate market is consistently ranked one of the most dynamic in the world. According to the IMSEE data, a record 493 transactions were signed over the past year: 64 involving new properties and 429 – the resale market. The total value of sales and resales amounted to €5.9 billion.
The price per square meter in Monaco exceeded €57,500, with Larvotto emerging as the Principality’s most expensive district, surpassing the threshold of €70,000 per square meter.
Commissions
There is no single commission standard in Monaco. The cost is borne by either the buyer or the seller, ranging from 3% to 5% of the sale price, plus VAT (TVA at 20%). The commission is designated as either agency fees included (honoraires agence inclus ) or agency fees on top.
What else should a buyer be aware of? The client pays registration fees and notary charges. For resale properties, total costs amount to some 6–7.5% of the property value. For new builds, some 2.5–3% due to a different tax structure.
Expenses typically include state registration fees, notary services and administrative costs associated with registering the transaction.
Can I buy an apartment if I am not a Monaco resident?
A foreign investor can buy a house or a flat in Monaco, own the property directly or through a company, rent it out (subject to regulations) or sell it on.
Purchasing real estate, however, does not automatically grant you a right to live in Monaco. Getting a resident status is a different procedure altogether.
Mortgages in Monaco
Getting a mortgage in Monaco is possible. Loans are most commonly provided by local private banks and banking divisions, with decisions made on a case-by-case basis.
Banks typically finance 50–70% of the property value; with mortgages limited to 10–25 years, and interest rates depending on the client’s profile.
