Недвижимость в Монако

The principality of Monaco is an independant state situated between Nice and Italy  and it attracts some of the world's most successful people. It is a magnet for foreigners wishing to move to a well-located European location with a rich cultural and social life filled with history and glamour, blessed with a wonderful climate, excellent security and very  good transport links. Successful entrepreneurs are also very attracted to the principality as a first-class location from which to manage their business, taking advantage of good connections from Nice airport which is just seven minutes away by helicopter or thirty minutes by car.

There are 100 different nationalities currently living in Monaco, approximately 20% of whom are true Monegasques and the remaining residents being foreign residents - a truly cosmpolitan mix of British, French, Italian, and most other European nationalities as well as many Americans, Canadians, Middle Eastern and South African nationals. The official language is French although the majority of  the residents speak English and many also speak Italian given Monaco's close proximity to the Italian border.

One of the principality's greatest attractions is the high levels of security provided - this is rigorously ensured by an extremely efficient police force. 

Monaco and fiscal matters

Since Monaco is not a member of the European Union it is not subject to the EU's regulations which means that Monaco is free to create its own legislation in fiscal matters. Monaco thus chose not to adopt income tax, withholding tax or captial gains tax and its estate duties are also very mild.

Monaco does have tax treaties signed with one country - France - but is free of any other treaties in fiscal matters.

It is possible to purchase property in Monaco without being a resident and many people do so as Monaco is seen as a very good place to invest given the economics of demand and supply - there is a short supply of properties to buy and yet a very high demand from people wishing to live here. The lack of supply is down to  two factors: Firstly the fact that the majority of property in Monaco is for letting purposes only and secondly because of the small size of the principality there are very little new build projects. Monaco comprises a total area of just over one square mile. A land reclamation project has been put  out to tender which will house both new residential and office buildings and the additional 25 acres will allow an extra 4,000 people to live in the principality.

This project is not due to complete for another 10-15 years and is certain to add value to real estate in Monaco. The high demand and very short supply of properties  means that Monaco commands extremely high prices for its real estate and this has been on the increase for the past ten years and is set to continue.

Here are some statistics taken from the Global Property Guide which was last updated in June 2008

So should you wish to invest in Monaco you are looking at a An average starting price for a one bedroom apartment is around 1 700 000€. You may be able to find a studio for around 1 000 000€ or slightly under. Large gains are to be made from the capital growth of the property that you buy. Over the past 5 years, prices in Monaco have increased by between 20% & 30% per annum and in certain cases even more! It is also worth remembering that if you are a resident in Monaco there are no capital gains tax to be paid

The best areas to buy in Monaco are in the ‘Carré d'or’ which is around the famous Casino Square and also around the Larvotto beaches  on the avenue Princesse Grace, which has recently been quoted as one of the most expensive streets in the world!

Other areas are also interesting places to live and invest -in particular the relatively new area of Fontvielle, which has been built on reclaimed land.

Please click on the link for  more information on the buying process in Monaco  and also our chapter on Monaco Residency.