Real Estate in Monaco
Due largely to Monaco's income tax free status property in Monaco ranks among the highest per m2 in the world. For example a one bedroom apartment 68m2 (around 700 square feet) with an 8m2 terrace in Monte Carlo is on the market for 880,000 Euros.
Other properties and real estate in Monte Carlo and other areas of Monaco include a two bedroom 91m2 ( 920 square feet) apartment in Jardin Exotique with a terrace of 30m2 (300 square feet) at 1,350,000 Euros and a five bedroom four bathroom apartment (which we showed the BBC for their recent Money Programme) in Fontvieille is available at 10,000,000 Euros.
Due largely to Monaco's income tax free status property in Monaco ranks among the highest per m2 in the world. For example a studio 28m2 (300 square feet) on the Boulevard d'Italie is on the market for 350,000 Euros. A two bedroom 95m2 (1000 square feet) with a terrace of 23m2 (247 square feet) apartment in Monte Carlo with views of the casino and the Grand Prix circuit is 1,900,000 Euros and a three bedroom 229m2 (2400 square feet) with a terrace of 79m2 (850 square feet) apartment is 4,950,000 Euros.
Closing costs in Monaco are high in comparison to much of Europe, and are typically between ten and eleven per cent including estate agent commissions, notary and legal costs.
If you are visiting Monaco to view properties try to avoid the weekends as many apartments which are for sale are rented out, and the people renting are at liberty to refuse weekend viewings when they are at home. Another time to avoid visiting Monaco to view real estate is a week before and during the Grand Prix as many roads are open for residents only, and many of the properties for sale are rented out for the week, and requests for viewing will be refused.
For details of currently available property and real estate in Monte Carlo and Monaco visit www.propertymonaco.com