Reviews about real estate agencies and developers in Monaco

Monaco is a symbol of luxury on the Mediterranean coast, famous for its casinos, yachts and Formula 1 track. The principality attracts investors with stability, no capital gains tax and an exceptional standard of living. Real estate prices in Monaco are among the highest in the world. In 2022, prices for luxury properties reached 62,000 euros per square meter, and the volume of transactions in the real estate market amounted to 3.5 billion euros. Foreigners can freely purchase real estate, but transactions require significant financial investments and careful legal preparation.

How to choose an agency and a developer:

• Assess the agency's reputation and the variety of its offers.
• Review the developer's projects and make sure that all the necessary licenses are available.
• Read reviews on specialized resources, for example, on our website, because researching ratings and reviews of potential business partners reduces risks.

Purchase process:

1. Selecting a property.
2. Legal verification of documents.
3. Paying a deposit after signing the preliminary contract.
4. Signing the main contract and registering the property.
5. Paying taxes.

The main aspects of buying real estate in Monaco:

• Foreign citizens have the right to purchase real estate, but the transaction requires careful legal verification.
• Proof of financial solvency and sources of income is required.
• Purchasing real estate opens the possibility of obtaining a residence permit, but this is associated with a number of requirements.

Monaco is a tiny principality located between France and the azure waters of the Mediterranean Sea. Here, on an area of just over two square kilometers, luxury is concentrated: the lavish casinos of Monte Carlo, marinas with white yachts gently rocking, and the Formula 1 track laid right through the city streets.

Monaco – A Prestigious Destination for Real Estate Investors

Monaco is one of the most prestigious and exotic places on the planet, attracting the attention of high-level investors from around the world. A stable political situation, the absence of capital gains tax, and a luxurious lifestyle make the principality's real estate market unique and highly profitable. In 2022, the volume of real estate transactions in Monaco reached 3.5 billion euros, indicating continued interest and trust from international investors.

Monaco's Open Real Estate Market

Unlike many countries, Monaco does not restrict the possibility of purchasing housing for citizens of other states, providing them with excellent investment opportunities. However, it is important to remember that buying property in this principality requires significant financial investment, as well as an understanding of the legal aspects of transactions and financing conditions.

Residence Permit in Monaco

An important point is that purchasing property in Monaco does not oblige the buyer to obtain a residence permit. However, if you become a property owner, you gain the opportunity to apply for residency, which offers additional advantages for long-term living.

Financial Capability Check

Before purchasing property in Monaco, it is important to undergo a financial capability check. Banks require proof of stable income and sufficient funds. Mortgage lending is available for foreign citizens in Monaco, but the conditions may be stricter than in other countries.

How to Choose a Real Estate Agency in Monaco

• Make sure the agency offers properties that interest you and operates in the desired areas.

• Review feedback and recommendations to assess the agency's reputation.

• Talk to agents to ensure their experience and understanding of the local market.

What to Consider When Choosing a Property Developer in Monaco

• Review the portfolio of completed projects.

• Ensure the availability of all necessary licenses and compliance with regulatory standards.

• Read reviews from previous clients to get a complete picture of the company's reliability.

The Process of Buying Property in Monaco

1. Property Selection: You can work with both real estate agencies and developers directly.

2. Legal Review: It is necessary to thoroughly verify all property documents.

3. Deposit: After signing the preliminary contract, a deposit is usually paid (about 10%).

4. Main Contract: Signed with a notary, after which the property is registered in the registry.

5. Taxes: When purchasing property in Monaco, various taxes apply, including a property transfer tax.

Property Prices in Monaco

Average rental cost (in US dollars):

• One-bedroom apartment in the city center: $4,200 - $13,600

• One-bedroom apartment outside the city center: $2,000 - $12,000

Average purchase price (per square meter in US dollars):

• One-bedroom apartment in the city center: $70,000 - $95,000

• One-bedroom apartment outside the city center: $65,000 - $70,000

The Importance of Choosing Partners Carefully

Buying property in Monaco is a significant step that requires attentiveness, careful selection of partners, and detailed planning. Familiarizing yourself with the reviews and ratings of potential business partners, such as real estate agencies and construction companies, allows for a more informed assessment of the risks associated with potential cooperation and minimizes the likelihood of unpleasant situations.