Acquiring property in Monaco is an exceptional wealth-building choice in a highly sought-after market. The Principality offers a transparent legal framework, remarkable legal security, and a tax environment unmatched on an international scale. However, buying in Monaco requires understanding the established practices. We will explain them in this guide.
To summarize this guide, here are the ten steps of a real estate acquisition in the Principality
The Monaco real estate market is based on a balance between strong global demand and very limited supply. Enclaved between the Mediterranean Sea and the Alpine foothills, the Principality can only expand its territory by reclaiming land from the sea, as illustrated by the Mareterra project delivered in autumn 2024.
As a result, prices have been continuously increasing for more than a decade. In 2024, the average price per square meter in the resale market reached a record €51,967, up 44% over ten years, according to IMSEE. In 2025, this average stands at €57,569/m², the second-highest level ever recorded.
Behind the overall average, the reality varies significantly by area. The market is divided as follows :
The choice of district in Monaco determines both the current value of the property and its future liquidity and resale potential.
The Monaco market is evolving toward larger residences, reflecting the Principality’s appeal to both families seeking primary residences and investors. In 2025, more than eight out of ten newly sold properties have at least four rooms. Prices reflect this ultra-premium positioning: the average price of a new property exceeds €40.8 million for the first time, with a median of €21.2 million.
Studios do exist in the resale market. 96 were resold in 2025. They remain rare in new developments (less than 7% of sales). Their average price surpassed €2 million in 2026, up 5.5% year-on-year.
Buying a new property in Monaco or one under construction (VEFA: sale in future state of completion) is cheaper in administrative fees: 2.5% of the purchase price compared to 6.25% for resale properties.
In Monaco, the real estate market has an organizational feature that often surprises newcomers: almost all agencies share their property databases. This means that by mandating a single trusted agency, you gain access to the entire available market, whether public or off-market. This gives you a single point of contact with a global market overview, able to organize visits and assist throughout negotiations.
Agency fees are paid by the buyer and are set by the Monaco Real Estate Chamber at 3% excluding tax of the sale price (3.6% including VAT). It is therefore in your interest to choose a reputable agency with a strong network and deep knowledge of local legal specifics.
Monaco offers several ways to acquire property, each with different tax implications. Here are the four options :
This choice must be made before submitting any offer and discussed with an experienced wealth advisor in Monaco.
One key difference between Monaco law and French law is the irrevocable nature of the purchase offer once counter-signed by the seller. Unlike France, where a 10-day withdrawal period applies after signing a preliminary agreement, Monaco does not provide such protection unless explicitly included as suspensive conditions. Once accepted and signed by both parties, the offer becomes legally binding.
If the buyer withdraws, they lose the 10% deposit. Conversely, if the seller withdraws, they must return double the deposit.
You must be fully committed before signing and ensure suspensive conditions are included from the start.
To be valid and enforceable, a written purchase offer must include a detailed property description, price proposal and validity period, full identity of the buyer with proof of address, as well as notary and agency fees. It must also include the name of the chosen notary.
The buyer signs in front of the agency, which submits it to the seller. Once accepted, a 10% deposit is sent to the notary within 48 hours and held until completion.
The Monaco market is a seller’s market, where negotiation margins are tighter than most other markets. However, negotiation is still possible depending on market conditions.
Properties listed for a long time without buyers offer more room for discussion. Rare or newly listed properties often attract multiple offers.
Your real estate agent is your best ally, using market data and transaction history to support your offer.
In Monaco, only three notary offices are authorized to handle real estate transactions. Notaries are appointed by sovereign decree and act on behalf of the State.
As of 2026, these three offices are :
This highly centralized system guarantees maximum legal security. The choice of notary is mutually agreed upon by both parties at the time of the offer. Their presence is mandatory at every stage of the transaction.
Upon receipt of the deposit, the notary carries out a series of checks. They verify the identity of the parties, the validity of the property title, the property ownership history, and ensure that no undisclosed mortgage or encumbrance exists on the property.
They also check for any pre-emption rights. Some Monaco properties are subject to regulations granting a third party a priority right of purchase. If this is the case, an additional delay is required to clear this right. This may extend the transaction by a few weeks.
This due diligence phase typically takes two to four weeks for standard transactions, and up to one month in more complex cases. It protects both buyer and seller against any administrative or legal defect.
The transaction is finalized during a meeting organized by the notary, attended by the buyer, seller, and a representative of the agency. At this stage, the buyer transfers the remaining purchase price, notary fees, and agency commissions by bank transfer.
The authentic deed, stamped and signed by the notary, has the same legal force as a final court decision. It is immediately enforceable and cannot be challenged once signed, ensuring absolute security for both parties. The legal transfer of ownership occurs at this moment, and the buyer receives the title deed and keys.
In cases where no suspensive conditions are included, it is possible to proceed directly to the final deed without a preliminary agreement.
For buyers who do not wish to fully self-finance, mortgage financing is the most common option. Private banks in Monaco offer tailor-made solutions for high-value transactions.
Key points to know :
Three main financing structures exist in the Monaco market.
Fixed-rate loan: monthly payments remain constant throughout the term, ideal for full predictability.
Variable-rate loan: indexed to Euribor, initially more attractive but exposed to market fluctuations. A capped rate clause (±1–2%) can limit risk.
Mixed-rate loan: fixed for the first 7–10 years, then variable with a cap afterward. A balanced solution for medium-term projects.
Non-resident buyers who do not wish or are unable to open a Monaco bank account have two alternatives.
A mortgage taken in France secured against an existing French property can release liquidity to finance up to 70% of the Monaco property value. This is suitable for French residents with existing real estate assets.
A Lombard loan, popular among high-net-worth clients, is secured against a portfolio of securities (stocks, bonds, investment funds). This allows investors to keep their assets invested while raising liquidity for acquisition.
In all cases, banks take an average of two to three weeks to review the application and issue a decision, followed by a ten-day reflection period before final acceptance.
In Monaco, acquisition costs vary depending on the buyer type and structure used. Individuals, Monaco companies, offshore structures, or professional property traders are subject to different rates, with significant differences.
For a purchase in personal name, total additional costs are around 10% of the purchase price (including notary fees, registration duties, and agency fees). For new properties or VEFA, this is around 6%. Depending on the transaction size, this can represent a difference of several tens or even hundreds of thousands of euros.
Real estate transactions in Monaco are relatively fast compared to neighboring markets (provided the buyer is well prepared). Once the offer is accepted and the deposit is paid to the notary, the verification phase begins.
For transactions without pre-emption rights, the time between offer acceptance and signing of the final deed is two to three weeks. When pre-emption rights must be cleared, this extends to around one month. If financing is required, the total process can take two to three months depending on the bank and file completeness.
Although offers in Monaco are binding once accepted, suspensive conditions can be included to protect the buyer if a specific event occurs.
The most common is the condition of obtaining bank financing. If the loan is refused within the agreed timeframe, the offer becomes void and the deposit is returned. Other conditions may include renovation work, removal of easements, or confirmation of legal status.
These clauses must be carefully drafted at the time of the offer, ideally under the supervision of the appointed notary.
A few days before signing, the notary sends a detailed statement specifying the exact remaining balance to be paid, after deduction of the deposit. This balance (remaining price + notary fees + registration duties + agency fees) must be available in the notary’s escrow account by the day of signing via bank transfer. Any failure may delay or cancel the transaction.
On the day of signing, after reading and initialing each page of the deed, the keys are handed over. Ownership is transferred on the exact date stated in the deed. Both parties must be physically present or represented by an authenticated power of attorney.
A common misconception is that buying property in Monaco automatically grants residency. These are two separate procedures.
Any foreign national wishing to reside in the Principality for more than three months per year must obtain a residence permit from the Public Security Department. Several conditions apply simultaneously :
Owning property facilitates the process but does not replace other requirements.
EU and EEA citizens benefit from a simplified entry procedure. Non-EU nationals must first obtain a long-stay visa (type D) from French authorities.
Financially, Monaco authorities must ensure you can support yourself without social assistance. In practice :
Three types of residence permits exist :
| Card type | Duration | Eligibility condition |
|---|---|---|
| Temporary card | 1 year (renewable twice) | upon arrival |
| Ordinary card | 3 years | after 3 years of continuous residence |
| Privileged card | 10 years | after 10 years of residence |
Note: housing must match household needs. A family of four cannot justify residence in a studio regardless of income.
Obtaining a residence permit is only the first step. To maintain it, you must physically reside in Monaco at least six months per year.
Authorities monitor objective indicators: electricity consumption (SMEG), Monaco bank statements, and card transactions in the Principality. A purely formal residence without actual presence may lead to non-renewal.
These rules align with Monaco’s tax advantages (no income tax for non-French nationals, no wealth tax, no capital gains tax on private assets), which apply only to residents who meet presence requirements.
In Monaco, some apartments are subject to regulations limiting what you can do as an owner. For example, restrictions on occupancy or rental freedom. These are known as “regulated properties.” Before making an offer, ask your agent and notary whether the property is affected.
Some buildings in Monaco are subject to pre-emption rights exercised by the State or designated third parties. This means the transaction can only be finalized after a legal period during which the beneficiary may choose to purchase the property under the same conditions. This period may last up to one month and must be included in the acquisition timeline.
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