For anyone dreaming of investing in property in one of the most prestigious locales in the world, the answer to the question is yes, foreigners can buy property in Monaco.
Indeed, Monaco real estate has proven to be a sound investment, with property prices rising by some 75% in the past decade, according to the Monaco Real Estate Observatory Report, with exclusive districts, such as Monte Carlo commanding record-breaking prices. And industry experts predict this real estate market trend to continue.
Not only is buying property in Monaco a secure financial investment, but it is also a route to Monaco residency.
What restrictions are there when buying property in Monaco?
There are certain restrictions in place for foreigners buying property in Monaco. For example, non-residents must obtain a certificate of residence from the Monaco government.
Additionally, non-residents must pay a higher purchase tax than residents. It’s also important to note that buying property in Monaco is expensive, as the prices are among the highest in the world. Experts recommend consulting a local real estate agent and lawyer when considering buying property in Monaco.
Situated on the stunning Côte d’Azur, between France and the Mediterranean, and a stone’s throw from Italy, Monaco is known for its picturesque setting, commitment to sustainability, and political stability.
Further, the principality’s 39,000 residents occupy what is described as the safest square mile in Europe. Monaco leads the ranking of countries with the highest average wealth per capita — about $2.1 million, according to AfrAsia Bank Global Wealth Migration Review.
Given the above, it’s easy to understand why so many foreigners seek to invest in real estate in Monaco.
What are the benefits of buying property in Monaco for foreigners?
Buying property in Monaco for foreigners has multiple benefits, including low taxes, a stable economy, and a luxurious lifestyle.
Tax benefits
Monaco has a favourable tax system for property owners, with no income tax, wealth tax, or inheritance tax, helping to protect family wealth.
Stable economy
Monaco has a stable economy and a low unemployment rate, which makes it an attractive place to invest in property. The principality boasts bilateral and reciprocal agreements with France, providing enhanced economic stability, while its financial services have sealed its position as one of the best countries to do business, providing peace of mind.
Robust infrastructure
The Principality of Monaco’s infrastructure is future-proof. The city-state was the first country to roll out an advanced 5G network, and the principality is on track to reach net zero in 2050 thanks to leading sustainable initiatives and developments.
Proximity to other major cities
The principality’s prime location on the French Riviera, close to other major cities such as Nice and Cannes, makes it an ideal location for those who want to enjoy the best of both worlds – a luxurious lifestyle in Monaco and easy access to other cities for work or leisure.
High rental potential
Due to its popularity as a tourist destination and the high demand for luxury properties, buying a property in Monaco can be a good investment as it has great potential for rental income.
Privacy and security
Monaco is known for its strict privacy and security laws. The principality is also among the world’s most high-security cities. With one police officer for every 100 residents, it is known as the safest square mile in Europe, helping to fuel the property market.
Exclusive address
Owning a property in Monaco is exceptional due to the small and exclusive location with a very high standard of living.
Luxury lifestyle
The principality is known for its glamorous lifestyle, with high-end restaurants, designer boutiques, and world-class events such as the Monaco Grand Prix and the Monaco Yacht Show.
With its luxury condominiums, moderate Mediterranean climate, high level of security (24-hour video surveillance throughout the principality), significant financial advantages and exceptional commitment to sustainability, it’s easy to see why Monaco is one of the most sought-after addresses in the world.
Why not enjoy all that the principality has to offer by buying property in Monaco? Contact La Costa Properties Monaco to learn more and browse the finest selection of luxury apartments, villas, and penthouses for sale and rent.
