Property for Sale in Monaco

Location, climate, and economy

Monaco is a microstate, a semi-enclave in the south of France on the coast of the Ligurian Sea. In terms of area, it is the second smallest country in the world (after the Vatican), as well as the most populous country in the world. Monaco includes the following city districts that have merged: La Condamine (business center and port), Monaco (old city), Monte Carlo (world gaming center), and Fontvieille (industrial zone).

The climate is Mediterranean with moderately warm winters and dry, warm and sunny summers. The average temperature in January-February is +8 °C, in July-August +26 °C. The number of sunny days reaches 300 per year.

The Principality of Monaco has successfully attracted diverse, environmentally friendly industries from around the world. The country, however, maintains monopolies in several industries, including: tobacco products, telephone lines, and postal services. Export: light industry products, the main areas of profit are tourism and gambling.

Why buying property in Monaco is profitable

Monaco, which has access to the Mediterranean Sea, is a popular resort that attracts tourists. The Principality of Monaco is also popular among rich and powerful people from all over the world. Buyers and landlords develop business here, as well as they relax and make investments. Residential real estate in Monaco is in steady demand, because buying a home in the region means the possibility of obtaining a residence permit. The country is not subject to crisis impacts due to the constant inflow of investments. Real estate in Monaco is one of the key investment components. Due to high real estate prices, many are considering the option of renting, since it is more affordable. Demand for properties far outstrips supply. Accordingly, investing in the country's real estate is a win-win option for high returns.

Among other advantages of purchasing real estate in Monaco, it is worth noting the following:

• excellent climate;
• good location;
• multinationality (the population is represented by 108 national communities);
• high quality medicine;
• security and impeccable order;
• stable economic and political situation;
• low unemployment;
• high quality of life;
• low taxes, no state personal income tax and annual property tax;
• good investment climate;
• the possibility of obtaining a mortgage at a fixed rate;
• safe purchase and sale of real estate;
• high liquidity of real estate (the market is stable, housing prices are among the highest in the world).

The real estate market in Monaco is prestigious, competitive and very active; there are many objects available for purchase (spacious apartments, individual houses, luxury apartments and large villas, lofts, penthouses, studios, shops, restaurants, offices, etc.). All objects are concentrated almost on the coast itself. Buyers definitely get great homes with all amenities and, most likely, with a magnificent view of the sea.

New buildings in the Monaco residential complexes are always popular among investors, regardless of the budget or type of apartments. Customer reviews confirm that the primary real estate in Monaco is of high quality and meets modern requirements. When selling projects under construction, developers offer different shares and mortgage lending.

The cost of real estate in Monaco

The price of real estate in Monaco is the most expensive in the world. The cost of real estate in Monaco is constantly growing, and due to the very limited territory, new properties are practically not being built. The average price per square meter in the Principality is 30-35 thousand euros. Studios ranging from 30 to 50 square meters are very popular (the cost ranges from 900 thousand euros to 2 million euros). Prices for apartments in Monaco are on average about 3-4 million euros and increase depending on the prestige of the area. Pricing when selling apartments in Monaco is also affected by the following factors: layout, renovation, view from the window.

Approximate prices for real estate in Monaco:

• apartments in Monte Carlo with an area of 70-80 sq.m. - from 2-3 million euros, with an area of 100-170 sq.m - from 4-7 million euros;
• apartments in Larvotto with an area of 65-75 sq.m. sold at prices from 2.6 million euros, an apartment of 99 sq.m. - from 5 million euros;
• three-level villa with an area of 490 sq.m with a panoramic view - from 8.5 million euros;
• penthouse - from 8 million euros.

Types of property for sale

Potential investors can choose from the following types of property in Monaco:

• residential (apartments, flats, villas, mansions, penthouses, houses, etc.);
• commercial (offices, retail real estate, hotel business, restaurants, cafes, etc.)

Real estate site in Monaco

The GEOLN.COM website with a convenient search interface, which presents the current catalog of real estate in Monaco helps investors to find and buy real estate in Monaco. On the site you can choose apartments according to the necessary parameters without intermediaries and take advantage of the advice of specialists.

Buying real estate in Monaco by foreigners: the nuances of investing

The right to purchase real estate for foreign citizens applies to any type of real estate. To start the process of buying property in Monaco, you need to open a local bank account and put at least 100,000 euros into it (this is necessary to obtain a residence permit in the country). There are no restrictions on the purchase of real estate in Monaco for foreigners. There is no personal income tax in the country. All real estate purchase and sale transactions are carried out only with the help of notaries, who are responsible for the correct execution of the necessary documents and act as guarantors.

We suggest that you seek qualified assistance from specialists to minimize risks and losses. GEOLN experts carry out a high-quality selection of objects according to individual parameters, provide a comprehensive service to support the safe execution of a transaction. Buying and selling real estate in Monaco is carried out by professionals with many years of experience.

Buying a property in Monaco is a profitable investment that guarantees profit, the opportunity to live and relax in a country that is internationally recognized as the standard for success, luxury and the highest quality of life, surrounded by beautiful nature, sea and mountains.