Overview

Anyone is able to purchase or rent a property in Monaco. There is no requirement to live in Monaco. Renting or owning an apartment will assist in meeting one of the requirements for Monaco residency.

Monaco covers an area of less than 2 square kilometres. It is divided into a number of areas that include The Rock-the area around the Palace, Carre D’Or-Casino Square, Condamine-the old port area, Fontvielle-the new port area, Larvotto-the beach area, Jardin Exotique and St Romain.

Properties rent/ purchase range from studios to 4/5 bedroom penthouses with or without parking and storage areas (‘caves)’. There are over 160 estate agents in Monaco to cater to a variety of clients. Prices both for rental and purchase vary widely according to the location of the property, the building and the size of the apartment or house.

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  • Property Purchase Fees

    Estate agents fees: 8% of purchase price plus TVA 20% (3% paid by the purchaser and 5% paid by the seller).

    Government registration transfer fee: 4.5%, if purchased directly or if a property is acquired by transfer of the shares in a company. If a foreign company purchases a property, the purchase is subject to a registration tax of 7.5%.

    Notary fees: 1.5% of the value of the property, depending on the ownership structure of the transaction (expenses, stamps and other fees).

  • Property Rental Fees

    Rent: based on calendar months, quarterly in advance. Leases are usually 1-3 years with renewal clause 3 months before lease expires.

    Deposit: 3 months in advance (refundable on leaving).

    Estate agents fees: 10% of annual rent plus TVA (20%).

    Service charges: based on services provided by the building managers.

    Government lease registration fee: 1% of the total lease value.

  • Property Taxes

    There are generally no property taxes in Monaco. There is no income tax, no tax on rental income received, no capital gains tax or wealth tax.

  • Financing

    Mortgage finance is available to purchase property in Monaco from banks or mortgage brokers. The typical loan to value is 60% to 100% of the property’s value and the bank will ask for a pledge/assets to be placed with the bank of between 20% to 35% of the amount borrowed.

    Mortgages are also available to cover not only the purchase price of the property but also notary fees, taxes and any works that need to be carried out on the property.

    For clients from countries typically deemed more ‘complex’ lending is still available from specialist banks albeit with a pledge of between 30-50% of the loan amount.

Our services include:

Assist clients in their property search both for rental and or purchase.

With our extensive knowledge of the local market and through our contacts with estate agents, banks and mortgage brokers we are able to help our clients find property suitable to their requirements.

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