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How Monaco Real Estate Transactions Work

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What does it cost to buy and sell real estate in the principality of Monaco? Graham Rowan from https://monacoestate.com/ explains the fees and taxes involved in a transaction and why the long term capital gains make it all worthwhile. Monaco is more than a place, it’s a global brand. Arguably the best known tax haven on the planet, it benefits from the power of economics 101 – more and more people want to live here but there’s no more space. We already have thirty eight thousand people from a hundred and thirty nine countries living in just two square kilometres of space. One in three of those people are multi millionaires and there’s more than a sprinkling of billionaires. Land is so scarce here that they’ve been reclaiming it from the sea since the 1880s. The latest such project is Portier Cove, a two billion euro project to create the first eco friendly district in the Principality. 2018 was an exceptional year for Monaco real estate, with prices rising an average of 18 per cent across all districts. That makes the average price per square meter forty eight thousand, eight hundred euros, the most expensive market in the world. One of the trends we’re seeing in the last two years is for more families to settle in Monaco, driving up demand for three and four bedroom apartments which carry a premium per square metre over the traditional one and two bed homes. The average sale price is now €5.2 million and there were five hundred and twenty three transactions in 2018, the last full year for which we have data. The total value of all those transactions came to €2. Billion, up 31 per cent on the previous year. In short, the overall Monaco real estate market is in prime health. Take a look at our district by district guides to see how prices have held up over not just the last year or two but for the past decade. When you see the capital gains that have been achieved, maybe getting on the Monaco property ;adder will start to make sense for you, wherever you are in the world. Please go to https://monacoestate.com , part of the Opulent Homes group, to see our current portfolio