Your Ultimate Guide to Successfully Buying Property in Monaco

Buying property in Monaco is far more than just a real estate investment; it is the gateway to an exclusive and prestigious lifestyle. Renowned worldwide for its luxury, safety, and favorable tax policies, the principality attracts investors and residents seeking excellence every year. The BENJAMINPRATT agency supports you at every stage of this significant venture. Here is our complete guide to ensuring your property purchase in Monaco is a success.

Why Invest in Monaco?

Monaco is often seen as a haven of privilege. This reputation is well-deserved: impeccable security, an exceptional quality of life, and, most notably, a tax system that appeals to high-net-worth individuals.

• Attractive Tax System: No income tax, no property tax, and no capital gains tax for residents. The only tax is on inheritance, but it remains favorable for direct heirs.
  
• Economic and Political Stability: Monaco enjoys a dynamic, diversified economy and an exceptionally stable political environment, providing investors with long-term confidence.
  
• High Demand and Property Scarcity: With Monaco’s limited land area (2 km²), real estate is a rare commodity. This supply-demand imbalance ensures constant property value appreciation.
  
• Luxurious Lifestyle: Mediterranean sea views, world-renowned events (Formula 1 Grand Prix, Monte-Carlo Rolex Masters), Michelin-starred restaurants, private beaches, and prestigious marinas.
  

Monaco’s Most Coveted Neighborhoods

• Monte-Carlo: The beating heart of Monaco. Iconic properties stand alongside the famous Casino and Hôtel de Paris, making it a top address for the global elite.
  
• Larvotto: Known for its legendary beach, this district offers seafront apartments and an upscale coastal lifestyle.
  
• Fontvieille: A more modern area popular for its contemporary residences, harbor views, and peaceful atmosphere.
  
• La Condamine: A lively neighborhood near Port Hercule, perfect for enjoying Monaco’s sporting and social calendar.
  
• Mareterra (Anse du Portier): Monaco’s new land reclamation project extending into the sea. Combining cutting-edge eco-friendly design and ultra-luxury residences, it is quickly becoming one of the most exclusive addresses globally.

Key Steps to Buying Property in Monaco

1. Define Your Goal

Primary residence, vacation home, or rental investment? Your objective will guide your choice of neighborhood and property type.

2. Set Your Budget

Property prices in Monaco rank among the highest in the world. As of 2024, prices range from €50,000 to over €100,000 per square meter, depending on location and property quality.

3. Consult a Specialist Agency

Working with a trusted agency like BENJAMINPRATT ensures personalized guidance, private viewings, and access to off-market properties.

4. View and Select Properties

Space is a luxury in Monaco, and properties are designed to maximize every square meter while offering premium features (sea-view terraces, pools, concierge services, smart home systems).

5. Complete the Purchase

All transactions in Monaco must be conducted through a notary. This ensures the process is secure and fully compliant with local regulations.

Legal and Tax Considerations

No Restrictions for Foreign Buyers: Whether you are a resident or not, you are free to buy property in Monaco.

Notary Fees: Approximately 6% of the purchase price (covering registration taxes and notary fees).

Inheritance Tax: Ranging from 0% for direct descendants to 16% for non-relatives.

Investment Potential and Rental Yields

Monaco’s rental market is robust. Smaller apartments, such as studios and one-bedroom units, are highly sought after by expatriates and young professionals. Rental yields typically range between 2% and 4%, which is attractive given the steady capital appreciation.

Market Trends and Future Outlook

Ultra-Luxury Properties: Residences with hotel-like services, spas, pools, and 24/7 concierge services are in high demand.

Sustainability: Mareterra exemplifies Monaco’s commitment to innovation and environmental responsibility. New developments increasingly adhere to eco-friendly standards.

Growing Appeal to Families: With top-tier international schools and unparalleled safety, Monaco is becoming a sought-after home for families.

Why Choose BENJAMINPRATT?

Specializing in luxury real estate on the French Riviera and in Monaco, BENJAMINPRATT offers:

• Expert knowledge of the Monaco property market.
  
• Exclusive access to off-market and high-end properties.
  
• Personalized support throughout the entire buying process.

Conclusion

Buying property in Monaco is more than just a financial decision; it is a lifestyle choice. With its unparalleled luxury, favorable tax system, and commitment to sustainability, Monaco offers a unique opportunity for discerning buyers. Whether you are seeking a beachfront residence in Larvotto or a sleek modern apartment in Fontvieille, BENJAMINPRATT is your trusted partner in making your Monaco property dreams a reality.

Get in touch today to discover the exclusive opportunities we have to offer.