Monaco Property Market

World's Most Expensive Real Estate

Expat Guides » Monaco » Property
Price Reality: Monaco has the most expensive real estate in the world. Entry-level studios start around €1.5-2 million (~$1.6-2.2M USD). Expect €50,000-100,000+ per square meter (~$54,000-108,000+ USD/m²) for prime properties. Most residents rent rather than buy.

Market Overview

Monaco's 2 km² contains some of the world's most valuable real estate. The tiny supply combined with global demand from ultra-HNW individuals creates extraordinary prices.

Key Statistics

Average price per m² €50,000-100,000+ (~$54,000-108,000+ USD)
Entry-level studio €1.5-2.5 million (~$1.6-2.7M USD)
2-bedroom apartment €4-10 million (~$4.3-10.8M USD)
Penthouse €30-300+ million (~$32-324M+ USD)
Rental (1-bedroom) €4,000-8,000/month (~$4,320-8,640 USD)
Rental (3-bedroom) €10,000-30,000+/month (~$10,800-32,400+ USD)

Districts (Quartiers)

Monte Carlo

The famous district around the Casino. Most prestigious and expensive. Home to the Carré d'Or (Golden Square)—the most expensive real estate in the world.

Price: €80,000-150,000+ per m² (~$86,400-162,000+ USD)

Fontvieille

Reclaimed land district, more modern. Shopping center, sports facilities. Slightly more accessible but still extremely expensive.

Price: €40,000-60,000 per m² (~$43,200-64,800 USD)

La Condamine

Port area, vibrant with markets and restaurants. Mix of older and newer buildings.

Price: €45,000-70,000 per m² (~$48,600-75,600 USD)

Monaco-Ville (Le Rocher)

The old town on the rock. Prince's Palace, old Monaco. Limited availability, mostly Monegasque residents.

Price: Limited market, varies significantly

Larvotto

Beach area with Grimaldi Forum. Beachfront living, newer developments.

Price: €50,000-80,000 per m² (~$54,000-86,400 USD)

Buying Property

Foreign Ownership

No restrictions on foreigners buying property in Monaco. Americans can purchase freely. However:

Purchase Process

  1. Property search: Work with Monaco estate agents
  2. Offer: Submit written offer through agent
  3. Preliminary contract: Compromis de vente signed, 10% deposit
  4. Due diligence: 7-day cooling-off period
  5. Final sale: Acte de vente before notary
  6. Registration: Property registered in your name

Transaction Costs

Cost Amount
Registration tax 4.5% (new builds exempt)
Notary fees ~1.5%
Agent commission 3-5% (usually seller pays)
Legal fees 1-2%
Total buyer costs ~6-8%
New Builds: Properties sold for the first time (état futur d'achèvement) are exempt from the 4.5% registration tax, making new developments relatively more attractive despite premium prices.

Renting in Monaco

Most new residents rent initially, even if planning to buy. This allows you to:

Rental Prices

Property Type Monthly Rent
Studio €3,000-5,000 (~$3,240-5,400 USD)
1-bedroom €4,000-8,000 (~$4,320-8,640 USD)
2-bedroom €7,000-15,000 (~$7,560-16,200 USD)
3-bedroom €12,000-30,000+ (~$12,960-32,400+ USD)
Penthouse/Villa €50,000-200,000+ (~$54,000-216,000+ USD)

Rental Requirements

Ongoing Costs

No Property Taxes

One advantage of Monaco ownership: no annual property taxes. Combined with no wealth tax, ongoing costs are primarily building-related charges and utilities.

New Developments

Monaco occasionally develops new buildings, creating rare purchasing opportunities:

Notable Recent/Upcoming Projects

New developments sell primarily off-plan to known clients and waiting lists. Engaging early with developers and agents is essential.

US Tax Considerations

For American buyers:

Disclaimer: Property prices and availability change constantly. This is educational information only. Work with licensed Monaco real estate professionals and attorneys for actual transactions. Information current as of January 2026.