A first glance at property prices in Monaco will make you laugh or cry.
Monaco is an attractive location to establish a private residence, go on vacation or to set-up a business. For this reason, the Principality is known for tourism, business, and a fantastic place to live around the world. Before you decide to settle in Monaco and start searching for an apartment or villa to rent, there are some key facts to keep in mind about the Principality.
Where to start
One should always ask an estate agent for help when searching for a property in Monaco. […]
Monaco has been the most expensive real estate market in the world for four consecutive years. The average property price has increased by 6% to 4.5 mln EUR in 2017. Shortage of new residential properties is being felt within all segments of the market and is pushing property values to new levels. Can this value growth be sustained and should real estate investors be attracted to the property market in Monaco amid the latest global,[…]
The process of buying real estate in Monaco is fairly straightforward, even if different and unique in some aspects from that of other countries, including France. There are three notary public officials appointed by the Princely Order acting on behalf of the state who participate in transactions from the offer stage to the legal transfer of the property. The main responsibility of the notary public is authenticating the property transfers and ensuring that the interests of the buyer and the seller are properly protected from beginning to end.[…]
Monaco estate agents are a major source of properties in the Principality; close to 100% of property dealings are completed with the participation of estate agents.
There are over 100 local agencies servicing clients from all over the world. In addition to Monaco-based estate agencies, there are the French Riviera and other international agencies based in the UK, Switzerland, Russia, and other countries which typically represent sellers and buyers linked to their home country.[…]
Monaco Property Market
The Monaco property market is unique in many ways when compared to other luxury international real estate markets. One of the unique characteristics is the size of the Principality, which severely limits the potential for new builds. With approximately 2 square kilometres of land, Monaco simply has no room to expand the metropolitan area. It has to grow within its current borders with France and Italy.[…]
Luxury apartments in Monte Carlo’s Golden Square are synonymous with prestige. Home to some of the finest appointed apartments and penthouses, the Golden Square simply oozes glamour and culture. Monte Carlo provides a unique atmosphere, economic growth, political stability as well as the tax exemptions that make real estate investing so enticing.
History abounds in Monte Carlo, most famous for its lavishly decorated Casino de Monte-Carlo, which was built in the 1800s.[…]
Monaco Real Estate Demand
Monaco real estate continues to be an attractive investment, not just because of its tax benefits, but because it has a growing economy, political stability, top notch schools, quality healthcare system, clean air, great events, fantastic weather, and a dozen other reasons that make this small state an idyllic place to live. continues to be an exceptionally appealing location for High Net Worth Individuals (UHNWIs) and has all the key markers of a healthy real estate market.[…]
The Tour Odéon
The Tour Odéon in Monaco caters to a very specific market. With its small size, Monaco has limited potential to supply new properties, but when it does they are sure to impress. New builds are typically apartments, and one recent addition is Tour Odéon which represents a new standard for luxury penthouses and apartments in Monaco and in the world.
The Tour Odéon was the first high-rise to be built in Monaco since the 1980s.[…]