Buying Property in Monaco
A transparent guide to acquiring your piece of the Principality.
The Acquisition Process
Purchasing property in Monaco is a secure and regulated process, typically taking 2-3 months from offer to completion.
1. The Offer
Once you've found your ideal property, we submit a formal written offer ("Offre d'Achat") to the seller. This document outlines the price, validity period, and any conditions precedent. To demonstrate commitment, a deposit check (usually 10%) is often presented to the notary.
2. Preliminary Contract
Upon acceptance, a "Compromis de Vente" is signed. This legally binding contract details the sale terms. The buyer pays a 10% deposit to the notary's escrow account. Notaries in Monaco conduct thorough due diligence on the property title and urban planning status.
3. Completion
The final deed ("Acte Authentique") is signed at the notary's office, usually 2-3 months later. The remaining balance and fees are paid. You receive the keys and the notary registers the transfer of ownership with the Monaco Registry.
Transaction Costs
Agency Fees
Standard agency fees in Monaco are set by the Chamber of Real Estate.
- Buyer's Commission 3% + VAT
- Seller's Commission 5% + VAT
Notary & Registration Fees
These fees cover transfer taxes and the notary's administrative work.
- Standard Purchase 6%
- New Developments 2.5%
- Life Annuity (Viager) Calculated on value
Frequently Asked Questions
Can foreigners buy property in Monaco?
Yes, there are no restrictions on foreigners purchasing property in Monaco. You do not need to be a resident to buy real estate.
Do I need a local bank account?
While not strictly mandatory for the purchase itself (funds are sent to the notary), having a local account is highly recommended for paying utility bills and is required for residency applications.
Is there property tax?
No, there is no annual property tax ("Taxe Foncière") in Monaco for residential properties.
Can I rent out my property?
Yes, Monaco has a strong rental market. We can assist with property management and finding tenants.
Ready to Invest?
Contact our team for a personalized consultation and access to our off-market portfolio.
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