Monaco » Market Report

In Monaco, more than half of the real estate investments are made by non-residents planning to live in Monaco, only temporarily though. Because of the great demand, Monaco real estate activity is prosperous. Usually prices go very high both for rents and for buying property as land is very limited.

There are no restrictions regarding real estate purchasing or rental by foreign nationals. When applying for a residence permit, there is no difference between owning an apartment and leasing one. The great majority of property is available for letting only.

Much of the available property in Monaco and Monte Carlo are apartments, from small studios to large luxury triplexes and penthouses. There is also a selection of luxury villas and beautiful townhouses but these are usually somewhat more expensive.

There are essentially three ways in which a Monaco residence permit may be obtained: firstly, by virtue of the applicant having been offered employment by a company registered in Monaco; secondly, in conjunction with a request by the applicant to establish a new business in Monaco (in which event, the obtaining of a residence permit will be dependent on the business license application being approved); thirdly, if the applicant is a retired individual who does not propose to carry on any sort of commercial or business activity. The procedure for applying for a residence permit is dependent on whether or not the applicant is a national of the European Community.

International Property Brokers forecast that the high life standards and the great number of requests will result in high prices for rental or purchasing of real estate. Monaco real estate activity will be prosperous.