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Buying and selling in Monaco
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Buying and selling in Monaco

How to buy and sell real estate in Monaco

Real estate in Monaco

For more than 100 years, the Principality of Monaco has been one of the world's most prestigous locations; it is no wonder then that Monaco real estate changes hands for considerable sums. Not surprisingly, there are few bargains to be had, a result of the density and quality of the existing accommodation.

However, Monaco's tax regime, thriving society life and high quality of living ensure that the market remains attractive and prices stable; thus investment in Monaco real estate continues to be a highly attractive choice.

The vast majority of all available property product in Monaco consists of apartments, ranging from small studios to large luxury triplexes and penthouses. Properties overlooking the sea, the harbour and/or Formula 1 circuit are traditionally amongst the most valuable. There also exists an extremely limited selection of luxury villas and beautiful townhouses for sale but these are usually even more expensive.

Parking difficulties ensure that properties offering one or two spaces are highly desirable. Private purchase (or rental of parking space) can easily run into several hundreds of thousands of Euros.

Average square meter prices are usually based around € 30.000 to € 40.000; however, at the low end prices of € 20.000 have been noted, whereas prize properties can easily fetech more than € 50.000 per square meter; this applies especially to some of the most luxurious apartment buildings close to the Casino in Monte Carlo's "golden triangle".

Associated acquisition costs (resgitry and notary fees) are comparable to those in France and are usually in the 9 % range; sometimes sales transactions are processed via a dedicated company structure (a so-called société civile immobilière) or the transfer of a legal entity.

The Monaco real estate chamber

Acknowledged by the Prince’s Government since 1945, the Chambre Immobilière Monégasque officially represents the real estate professionals to the Public Authorities and the Employers Federation.

Every member is compulsorily covered by a Bank Guarantee and insured for Professional Civil Liability. Each member of the Chambre Immobilière Monégasque must correspond to a selective admission criteria and accept a precise internal statute.

The Chambre Immobilière Monégasque practises its skills on the various aspects of real estate business (sale, rent, administration, promotion, valuations,...) A disciplinary commission sanctions any unprofessional behaviour of the real estate agents towards Clients or fellow members, thus guaranteeing the professionalism of all associates :

- A precise table of fees is acknowledged by the Authorities and applied by every member,
- Rigorous behaviour,
- Quality advice,
- Expertise,

Of course, the Monegasque representative of Sotheby's International Realty, "C.I.C. Immobilier Monte - Carlo Sotheby's International Realty", is a member of the Monaco Real estate Chamber.  
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