Real Estate in Monaco

Monaco Real Estate as an Investment

Thanks to its economic and political stability, the Principality of Monaco presents an ideal investment opportunity in Real Estate, with an established track record for wealth and succession planning.

4 main factors define the potential of Monaco real estate:

• Its world renowned Security for residents and goods
• Its mild mediterranean Climate
• Its advantageous Tax Policy
• Its location at the heart of Europe

Buying in Monaco

The purchase offer and negotiation.

The offer to purchase real estate (which we draft) is a legal document that outlines the potential deal between buyer and seller. The offer shall contain details about the seller and buyer (including their name and contact information), the property’s legal description, the proposed closing date and deadline for accepting the offer. It would also include the notary and registration fees to be paid by the buyer (6% of the purchase price).
In Monaco, the buyer also pays a commission to the real estate agent. This fee is typically set to 3% of the purchase price +VAT.
The buyer is expected to provide a down payment to the notary in the form of a cashier cheque, that would only be cashed once the offer is accepted and both parties have signed the notarised formal agreement. Typically, this down payment is set at 10% of the purchase price. If subsequently, the buyer were to retract from the transaction, the seller would be entitled to the 10%.

The Notary’s Responsibility and Notarial Deed.

The Notary is an officer of the state. As such, he is responsible for authenticating and formalizing the deed. He therefore witnesses the agreement expressed by both parties and is responsible for the authenticity of the formal agreement; and in turn guarantees it by affixing the formal seal and signature.

Three Notaries are established in Monaco:

• Aureglia-Caruso Nathalie
  4 boulevard des Moulins
  98000 Principauté de Monaco
  Tel. +377 93 10 60 60
• Crovetto-Aquilina Magali
  31 Boulevard Charles III
  98000 Principauté de Monaco
  Tel. +377 93 50 54 13
• Rey Henry
  2 rue Colonel Bellando de Castro
  98000 Principauté de Monaco
  Tel. +377 93 30 41 50

Purchase Fees

The following are the fees when purchasing in Monaco :

• Notary and Registration fees are  6% of the purchase price.
• Agency commission is 3% of the purchase price +VAT.
• A down payment of 10% of the purchase price is required when the formal offer is presented to the notary

The balance and the aforementioned fees are due the day the final deed is signed and registered in front of a notary in Monaco.

Rentals

The expected fees when renting in Monaco are :

• Three month rent (due in advance of every quarter).
• Three month provision on building and condominium fees (due in advance of every quarter).
• Registration of the deed (1% of rent and fees over the duration of the lease).
• Agency commission is 10% of the total rent for the first year + VAT.

The standard lease term is in the 1 to 3 year range.