Buying property in Monaco as a UK foreigner

Disclaimer: The information in this article is for reference purposes only. All information on this page should not be considered financial or tax advice. You are solely responsible for calculating and paying your tax liabilities depending on the applicable law. All tax saving strategies or decisions should be made after thorough research and consultation with a qualified financial advisor.

Considering moving to Monaco from the UK? You’re not alone, as the allure of this glamorous city-state and its picturesque French Riviera setting attracts many expats and property investors from all over the world.

Whether you’re looking for a new home, a holiday home or an investment opportunity, you’ll need to know something about the process of buying property in Monaco as a foreigner.

We’re here to help, with a comprehensive guide covering everything you need to know. This includes info on mortgages, fees and taxes, the latest Monaco property prices, where to start your search and the pitfalls to avoid.

We’ll also introduce a reliable and cost-effective way to send and receive large sums internationally from the money services provider Wise.

With low, transparent fees*, great mid-market exchange rates, and secure, trackable transfers, Wise makes international money transfers simple and stress-free. Plus, you’ll get dedicated support and volume discounts when sending large amounts.

Get expert support for large transfers 📞

Can you get a mortgage from a Monaco bank as a non-resident?

The first thing to think about is how you’ll finance your Monaco property purchase. Unless you have the cash upfront, you’re likely to need a mortgage.

Banks in Monaco do provide mortgages to foreign nationals and non-residents. In fact, they’re very used to dealing with international clients, so it may be easier to find lenders familiar with international clients.

You’ll still need to provide the required paperwork and meet approval criteria, however.

You may also need a larger deposit than a local resident, typically around 30% to 50%.

If you do need finance for your purchase, it’s important to start shopping around for mortgages before starting your property search in earnest.

It’s a really good idea to use a broker specialising in international buyers, who can help you find the right mortgage for your circumstances. Simply having someone on your side who speaks French and really understands the system can pay dividends.

Taxes and fees for owning property in Monaco

In order to set your budget for the purchase, you’ll need to factor in legal fees, property taxes and other costs.

Here are the main ones to know about when buying property in Monaco:²

Tax/fee name	Rate/fee
Transfer tax	4.5%
Notary fees	1.5% to 3%
Estate agent fee (using an agent not obligatory for buyers, but common)	3% to 5%
Mortgage registration fees	0.5% to 1% of loan amount³
Mortgage arrangement fees	Less than 1% of loan amount³

The good news is that Monaco doesn’t have any annual property taxes,³ so you only really need to budget for initial purchase fees and taxes.

Read more: Cost of Living in Monaco

What’s the property market like in Monaco?

The Monaco property market is characterised by high and rising prices, due to factors such as the scarcity of available land and demand from high-net-worth buyers.

Prices rose by just 1.1% in 2024, but have risen more than 44% over the last decade - bringing the average square metre price to an eye-watering €51,967 EUR.⁴ This is one of the highest in Europe.

What this means as a buyer is that you’ll need a healthy budget in order to secure your dream property in Monaco.

It could be a good time to buy though, as experts predict moderate yet sustained price appreciation over the medium term. However, it all depends on what and where you buy, and factoring in all the usual potential risks and pitfalls of property investment.

If you’re looking to buy a property to rent out, it’s useful to know that average rental yields are between 2.5% to 3%.⁴ These are low compared to other European markets, due to the extremely high property prices in Monaco.

Can foreigners buy property in Monaco?

Yes, foreign nationals can freely buy property in Monaco without any restrictions, and you don’t need to be a resident there either.¹

Can you buy property in Monaco and get residency?

Monaco does have a kind of Golden Visa programme, although it doesn’t work quite the same way as in other countries.

Called the Carte de Sejour, it’s a residency-by-investment programme which grants a 1-year temporary residence permit (renewable, with the option to stay much longer) to foreign nationals who meet the requirements.

This means demonstrating financial self-sufficiency by depositing at least €500,000 EUR in a Monaco bank, and by renting or buying property.⁵ There may be other conditions too.

So if you’re looking to move abroad and live in Monaco permanently, this could be an option to pursue.

How much are the property prices in Monaco?

Now we come to the all important question - how much money do you need to afford your dream home in beautiful Monaco?

You’ll need substantial resources to afford a property in Monaco, as the average cost of buying an apartment there is up to 1,270% more expensive per square metre than in the UK.⁶

To narrow it down a little further, here’s a guide to what you can expect to pay in some of Monaco’s main districts:⁴

District	Average price per sq.m. (EUR)
Larvotto	€97,563
Monte-Carlo	€53,911
Fontvieille	€53,908
La Condamine	€53,801
Jardin Exotique	€49,847
La Rousse	€45,303
Les Moneghetti	€42,326

Another thing to note when figuring out the price for property in Monaco is that international transfers could get expensive, especially if the bank or provider adds a margin to the exchange rate to convert your pounds to euros (EUR).

Consider checking out Wise to securely handle your large transfers with mid-market exchange rates and low, transparent fees*.

Where is the cheapest place to buy property in Monaco?

It’s extremely difficult to find affordable property in a place like Monaco, where prices are extremely high across the board.

However, the districts of La Rousse and Les Moneghetti are fractionally cheaper than Monte-Carlo and others in terms of property prices (and much cheaper than the very popular seaside district of Larvotto).

Buying property in Monaco as a foreigner - a step-by-step guide

Before you start your house hunt, it can be useful to know a little about how the process of buying property works in Monaco.

Here’s a quick overview of the steps involved:

1. Get your finances in order

Before you do anything, it’s a smart idea to get your finances sorted. This means setting a budget, getting a mortgage offer (approval in principle) and getting all your paperwork together.

You might also want to open an account with a Monaco bank, as it can make transactions easier later on (especially if you’re getting a mortgage).

2. Find a property and arrange viewings

Now it’s time to start searching for your dream home. You can use online property portals and/or local estate agents to find properties. We’ll run through some tips later on how and where to start your search.

If you’ve found somewhere you like, arrange a viewing as soon as you can, and start researching the area in the meantime.

3. Appoint a solicitor/notary

All property purchases in Monaco must be carried out with the assistance of a notary, taking responsibility for finalising real estate transactions as well as handling due diligence, verifying legal ownership, and managing the transfer of funds and title.

As you start your property search, it’s recommended to appoint a notary as early as possible. There are three established, government-regulated notarial offices in the Principality.

You may also want to appoint a private property lawyer for additional advice, and to check over documents and contracts - although this will of course come with an extra fee.

4. Get a survey

Before making an offer, you might want to get a building survey carried out. This involves hiring a surveyor to check the property for structural or other issues.

If the survey flags anything up, you may be able to negotiate on price.

5. Make an offer

The next important step is to submit a competitive offer in writing to the estate agent, or to the buyer directly. You’ll do this in writing, with an offer letter (Offre d’Achat). You can negotiate on price, just like in other countries.

This offer can be binding if accepted, so make sure you’re happy with the results of initial due diligence checks and your building survey before proceeding.

6. Sign the preliminary contract (Compromis/Promesse de Vente)

If your offer is accepted, the next step is for both parties to sign the preliminary contract. This outlines the terms and conditions of the sale.

You’ll also arrange a transfer for the deposit, which in Monaco is usually around 10% of the purchase price.¹

At this stage, you might want to contact your mortgage provider to finalise the financing for your purchase.

7. Closing

The final stage is to work towards closing, which involves:

• The notary/solicitors completing all remaining legal checks and paperwork
• Both parties signing the final sales contract (in the presence of the notary)
• Paying registration fees and taxes
• Registering your property with the land registration service.

The title deed will be transferred to your name and you’ll arrange a transfer for the remaining balance.

After all that’s done, you’ll get the keys to your new home.

Read more: How to open a bank account in Monaco for British non-residents

How can you find a property in Monaco?

The two main routes to find property to buy in Monaco are local real estate agencies and online property websites.

Property agencies and agents in Monaco

It isn’t necessary to use a real estate agent to find a property to buy in Monaco, but it is very common there.

It could be extremely helpful too, especially if you’re moving to Monaco from the UK and are unfamiliar with the local property market.

A specialist buying agent or broker can offer helpful advice and insight into the local market and help you navigate the sales process. However, there will usually be a fee to pay for this service.

Before engaging an agent, check that they are registered with the Chambre Immobilière Monégasque (Monaco Real Estate Chamber).

Property websites in Monaco

The best way to get a head start on finding a place to buy in Monaco is to look online. Great websites to find a house or a flat to buy include:

• SeLoger.com
• EdouardVII.com
• Sotheby’s International Realty Monaco
• Properstar
• MonteCarloRealEstate.com
• JamesEdition

What are some of the pitfalls of buying property in Monaco?

One of the main things to watch out for when buying property abroad are scams.

To avoid scams and other pitfalls, it’s best to work with verified, independent and qualified professionals such as real estate agents, brokers and property solicitors.

You should also check for membership of a professional body (if applicable) when working with any property experts, brokers or agents.

Other important things to remember include:

• Make sure any real estate agent you use is registered with the Chambre Immobilière Monégasque (Monaco Real Estate Chamber)
• Be cautious and do your homework (including meeting or speaking to the seller) before sending money or a deposit.
• Ensure that the seller has the legal right to sell the property - along with carrying out other due diligence checks
• Get an inspection/survey carried out if you have any concerns about the property.

How do you choose the right property in Monaco?

Your dream home in Monaco will be the one that closest fits your search criteria. The most important factors will be location, the type of home and crucially in Monaco - how much you can afford to spend.

If you’re not already living there, it’s worth making a trip to the specific district in Monaco you’re interested in.

You can get a feel for the local area and view properties, making sure to pay attention to local transport links and amenities.

Condition of the property

It’s a good idea to do as much research as possible before committing to purchase a property.

If you have any concerns or just want to cover all bases before purchasing, you can commission a building survey or inspection. This will flag up any major issues and give you a better idea of what you’re buying.

Type of property

Apartments are one of the most common property types in Monaco, ranging from studios to penthouses.

But you’ll also find luxury villas and beautiful townhouses, although these of course do come at a premium.

Read more: Moving to Monaco from the UK: Complete guide

Moving into your Monaco property

Before you can get the keys to your new home, you’ll have a few key tasks to run through.

Insurance

It’s strongly recommended to take out a buildings insurance policy starting from your completion date. In fact, you might find it's a mandatory condition of your mortgage offer.

Setting up utilities and bills in Monaco

If you know when your completion date will be, it makes sense to get some essentials set up in advance of moving in.

A prime example is utilities, such as heating, power and water. Get these sorted as early as you can, and the moving process should be a little smoother.

Renovating property in Monaco

For some properties, some building work or improvements may be needed before you can move in.

Our guide to building and renovating property abroad covers everything you need to know, from planning permission to finding a local builder - and some of the main costs you can expect.

Save on currency conversion fees with Wise when buying property in Monaco

After reading this guide, you should have all the essential info you need to start your property search in Monaco. This includes those crucial first steps such as finding a broker and searching online property portals, and getting your finances in order.

Need a secure, convenient and low-cost way to send large sums of money internationally? Take a look at the Wise account from the money services provider Wise. It's not a bank account but offers some similar features and your money is safeguarded.

With Wise, you can send large amount transfers worldwide to 140+ countries for low, transparent fees and the mid-market exchange rates with no markup.

Here’s an overview of the main benefits of using Wise:

Fast and easy setup with no physical paperwork Low, transparent fees and no-markup mid-market exchange rates Dedicated support and volume discounts for large transfers No monthly/annual account fees Sophisticated security and anti-fraud measures, with your money safeguarded Trackable and fast transfers to 140+ countries Low-cost spending in 150+ countries with the Wise card Earn a variable return on your GBP, USD and EUR with Wise Interest (capital at risk, growth not guaranteed)**

✅ Sign up with Wise for free

**Investments in funds are never guaranteed and your capital can be at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

---

Additional FAQs about buying property in Monaco

Is Monaco tax free for foreigners?

Yes, Monaco is largely tax-free for foreigners, but only if you’re a resident there. The principality doesn’t have personal income tax, property tax, capital gains tax or wealth tax.

What is the average price of a house in Monaco?

The average price of a new home in Monaco is a whopping €36.4 million EUR.⁴ This is likely due to the number of ultra-luxurious homes in the principality, but there are also studios and apartments with an asking price within the €5 million to €12 million EUR range.

How much money do you need to become a Monaco resident?

To become a Monaco resident under the Carte de Sejour residency by investment programme, you must have at least €500,000 EUR to deposit with a local bank - as well as meeting other conditions.⁵

---

Sources used:

1. Global Property Guide - Buying Property in Monaco as a Foreigner
2. Immigrant Invest - Property Investment in Monaco as a Foreigner
3. Traverse International Finance - Monaco Mortgage Factsheet and FAQ
4. Global Property Guide - Monaco's Residential Property Market Analysis 2025
5. Immigrant Invest - How to obtain a Monaco Golden Visa: investment residency made clear
6. Numbeo - Cost of Living Comparison Between United Kingdom and Monaco Reverse

Sources last checked on date: 25-Jan-2026