Monaco Real Estate Buying Guide

Monaco embodies the ultimate real estate dream. While its market may seem complex at first glance, it operates within a clear and secure legal framework. This guide aims to concisely outline the key steps involved in acquiring property in the Principality.


Understanding the Regulatory Framework

Acquiring property in Monaco requires a thorough verification of the buyer’s profile. The AMSF, in compliance with GAFI and Moneyval recommendations, enforces strict financial control measures. Buyers must provide documentation to verify their identity and financial capacity.


Defining Your Real Estate Project

Before beginning your search, it is essential to refine your criteria:

•  Type of Property: Apartment or villa, primary residence or investment property.

•  Number of Rooms: To be adjusted according to your needs and the requirements for obtaining a residence card.

•  Location: Each district has distinct characteristics (proximity to schools, shops, accessibility, social life).

•  Property Condition: Move-in ready or in need of renovation. Renovation costs should be factored into your budget. 

•  Exposure and Views: A crucial criterion, especially for properties located at higher elevations or by the sea.

•  Outdoor Spaces and Additional Features: Gardens, balconies, terraces, or storage units can add significant value.

•  Parking: In Monaco, parking spaces are a major concern and should influence your decision. 

•  Building Services and Amenities: Concierge, security, swimming pool, or gym are valuable assets.

Relying on a Professional

Monaco’s real estate market is highly regulated. Partnering with a professional provides strategic advantages:        

•  Access to Exclusive Properties: Some listings are not publicly advertised and require an established network.

•  Securing the Transaction: Every step, from document verification to signing the deed, demands expert knowledge.

•  In-Depth Market Analysis: Market comparisons, accurate valuations, and investment optimization advice.

•  Streamlining Administrative Procedures: Assistance with permits, legal verifications, and guidance through the relocation process.

•  Expert Negotiation: A well-prepared and structured offer enhances purchase conditions.

Monaco-based real estate agencies also possess extensive knowledge of local regulations and market specifics. They play a key role in identifying the best opportunities and guiding clients through the entire acquisition process.


Property Visits and Negotiation

Once a property is selected, it is crucial to evaluate its condition, the building, and its surroundings. Before making an offer, consider: 

•  The quality of finishes and equipment. 

•  Compliance of installations (completion certificates, technical inspections). 

•  Condominium fees and any upcoming maintenance work.
  
  

A purchase offer is legally binding for the buyer. Unlike other markets, Monaco does not grant a withdrawal period. A 10% deposit of the purchase price is required upon signing.

Finalizing the Purchase and Taking Possession

The final deed is signed before a notary. Acquisition costs amount to 6.25% of the purchase price for personal or SCI purchases. Two notaries—one for the buyer and one for the seller—may be involved without any additional cost.To ensure a smooth move-in process, it is advisable to plan ahead for utility connections, relocation logistics, and residence permit formalities.


Conclusion

Purchasing real estate in Monaco requires a meticulous approach. The key to success lies in professional guidance tailored to your expectations.

Do not hesitate to rely on our expertise to bring your project to fruition with complete peace of mind.