Once you have found your perfect property in Monaco then you should be aware of two other costs: 1.The most significant purchasing costs you need to add on top of the price you are buying at are the ‘Notary’s Fees’ which despite the expression, do not in fact all go to the notaire but also cover various government taxes, stamp duty, disbursements etc. For a re-sale purchase these legal fees are around 9% of the purchase price, although it varies slightly due to factors such as whether you are taking out a mortgage on the property and also they can be reduced depending on whether it is a company buying and a company selling the property. In the cases of properties built off plan in Monaco there is also a reduction in Notaires fees. 2.The agency commission, fixed by the principality, which is at 3% + VAT, must be added on top of the purcahse price |