Many buyers underestimate the purchase costs of a real estate project in Monaco. Registration duties, notary fees, agency fees: in a market where the price per square meter is around €58,000, even the smallest percentage represents tens of thousands of euros. In the Principality, however, these costs are regulated and predictable. This guide gives you all the keys to anticipate them.
In Monaco, any real estate transaction must take place before a Monegasque notary. The notary is the public officer who guarantees the legal security of the transaction. They verify the compliance of the deed with Monegasque law, ensure there are no charges or mortgages, and authenticate the transfer of ownership.
The Principality currently has three notarial offices authorized to execute sales deeds. Each party may freely choose their own notary, unlike the French system where only the buyer’s notary intervenes.
The purchase process in Monaco begins with the signing of a preliminary agreement and the payment of a deposit. Once financing is obtained and conditions are lifted, the sale is finalized before the notary. It is then that payment of the balance, agency fees, and notary fees is made. In Monaco, however, one must take into account the State’s right of pre-emption, which may delay the final signing by one month.
In Monaco, the purchase offer is accompanied by a deposit of 10% of the sale price, entrusted to the notary who acts as legal escrow agent. This amount is a standard practice in the Monegasque market, confirmed by the Princely Government of Monaco. This deposit is not an additional cost. It is deducted from the total price at the signing of the final deed. For a €1 million property, €100,000 must be available at the time of the offer.
The reservation deposit acts as a mutual protection mechanism. If the buyer withdraws without a reason covered by a suspensive clause, the deposit is retained by the seller as contractual compensation. Conversely, if the seller withdraws, they must pay the buyer an equivalent amount in compensation. This symmetry ensures balance between both parties and encourages each to honor their commitments until final signing.
Registration duties are a tax collected by the Monegasque State during each real estate transfer. They are calculated as a percentage of the sale price and paid at the signing of the authentic deed, not at the preliminary contract stage. The notary collects them on behalf of the Tax Department. They are the most significant fiscal cost of an acquisition.
Unlike agency fees, they are not negotiable: their rate is set by law. The applicable rates are defined by Law No. 580 of July 29, 1953 and its amendments, notably Law No. 1.381 of June 29, 2011, published in the Journal de Monaco. They must not be confused with notary fees, which are a separate remuneration paid to the public officer.
| Type of acquisition | Notary fees | Registration duties | Total |
|---|---|---|---|
| New property or VEFA (first sale) | 1,5% | 1% | 2,5% |
| Resale – individual or Monegasque SCI | 1,5% | 4,75% | 6,25% |
| Resale – property dealer (professional) | 1,5% | 0% (revente sous 4 ans) | 1,5% |
| Monegasque SCI shares (holding property) | Sur devis | 4,54% sur valeur bien | ≈4,75% |
| Offshore or foreign company structure | 1,5% | 10% | 11,5% |
| Life annuity purchase | 1,5% | 4,75% | 6,25% |
Data sourced from: Laws No. 1.381 of June 29, 2011, No. 580 of July 29, 1953, No. 1.548 of July 6, 2023. These can be confirmed by a Monegasque notary.
The purchase of a resale property by an individual or Monegasque SCI represents the majority of transactions. Costs include:
Total: 6.25% of the price, excluding agency fees.
A new property or VEFA benefits from a reduced regime. Costs include:
Total: 2.5% of the price. This reduction is explained by the 20% VAT already included in the developer price. In 2025, the average price of a new property in Monaco reached €40.8 million. On such amounts, the difference between 6.25% and 2.5% represents several hundred thousand euros.
Acquisitions via offshore or foreign companies are subject to a deliberately deterrent tax system. Costs include:
Total: 11.5% of the price. This increase aims to limit opaque structures and strengthen traceability of beneficial owners.
Agency fees are regulated by the Monegasque Real Estate Chamber. For the buyer, they amount to 3% excluding VAT, i.e. 3.6% including VAT at 20%. They cover property search, negotiation, coordination with the notary, and support until signing. Some agencies also offer rental or asset management services.
Some buyers hire a lawyer specialized in Monegasque law to audit the property before signing: hidden charges, co-ownership rules, urban planning authorizations. This is not a legal requirement but a precaution. For acquisitions via a Monegasque civil company, the involvement of both a notary and a lawyer is almost systematic.
Based on a €1,000,000 property, here is a comparison between resale and VEFA purchase for an individual buyer.
Indicative data for example purposes.
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According to the Princely Government of Monacoi, there is no property tax, no housing tax, and no wealth tax in the Principality. Once acquisition costs are paid, only condominium fees apply annually.
The same official source confirms the absence of real estate capital gains tax for resident individuals. In a market where prices have increased by 42% in ten years (from €40,599 in 2016 to €57,569 in 2025 according to the 2025 Real Estate Observatory of IMSEE), this advantage is significant.
Note: French citizens are governed by the Franco-Monegasque bilateral treaty of 1963, which may maintain taxation in France regardless of residence.
For resale property, fees amount to 6.25%: 4.75% registration duties (Law No. 580 of July 29, 1953, amended by Law No. 1.381 of 2011 and subsequent legislation) and 1.5% notary fees. Administrative fees of approximately €500 may apply. Agency fees of 3.6% including VAT are separate.
New or VEFA property is subject to 2.5% fees. Resale property is subject to 6.25%. On a €1 million property, the difference is €37,500.
Fees are set at 3% excluding VAT of the sale price, i.e. 3.6% including VAT. They cover search, negotiation, coordination with the notary, and transaction support.
Fees amount to 11.5%: 10% registration duties and 1.5% notary fees. This rate was set by Law No. 1.548 of July 6, 2023.
No. There is no property tax, no housing tax, and no wealth tax in Monaco. The only recurring cost is condominium fees. Exception: French citizens remain subject to the Franco-Monegasque treaty of 1963.
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