Monaco – Finding Property to Buy

Who are the main estate agents operating in Monaco, and how do buyers typically use them?

The two principal routes to locating property for purchase in Monaco are local real estate agencies and online property platforms. Engaging a real estate agent is not a legal requirement, but it is by far the most common approach. Given how scarce available stock is and how rapidly properties move, most buyers — and especially those searching from overseas — depend heavily on agents for listing access, market knowledge, and procedural guidance.

Local agencies possess a detailed understanding of the Monegasque market and can open doors to listings that never appear on public platforms. They also guide buyers through the particular complexities of completing a purchase in the Principality. Off-market properties make up a significant portion of transactions in Monaco, and cultivating relationships with well-connected local agents is frequently the only way to hear about them.

In Monaco, agents generally hold a mandate from the vendor, which technically makes them the seller’s representative — a different starting point from markets where buyers retain their own exclusive agent from day one. In practice, however, many Monaco agents serve both sides of a transaction, supplying information and guidance to buyers while operating under a seller’s mandate. The formal distinction between a seller’s agent and a buyer’s agent is far less codified here than it is in, for example, the United States, where buyer representation agreements carry specific legal weight.

Among the most prominent agencies currently active in Monaco, the following are worth noting. Always confirm current details, as agency prominence can shift over time:

• Savills Monaco — Part of the global Savills network, this agency carries considerable authority in the Principality’s residential market. Its multilingual team, based in the heart of Monaco, handles both sales and rentals across the full property spectrum. Website: en.savills.mc
• Ageprim — A prominent figure in Monaco’s luxury real estate sector, Ageprim has built its standing with a high-net-worth international clientele through a combination of discretion, professionalism, and passion for the market since 1980. Website: ageprim.com
• BALKIN (Knight Frank partner) — Since 2023, BALKIN has served as Knight Frank’s exclusive partner in the Principality, giving clients direct access to a worldwide network, discreet off-market opportunities, and a strong track record in Monaco transactions. Website: balkinestates.com
• Polarius Real Estate — A boutique agency focused specifically on the Monaco market, offering dedicated search mandates for buyers pursuing both listed and unlisted opportunities. Website: polariusrealestate.com
• Spark & Partners — A well-regarded name in French Riviera and Monaco luxury property, Spark and Partners connects clients with prestige homes across the region, with teams operating from three offices and fluency across six languages. Website: spark-estate.com
• La Costa Properties Monaco — Representing fine Monaco apartments and villas across the luxury market, La Costa Properties Monaco brings more than 20 years of experience in sourcing prestigious homes for discerning buyers.
• Lorenza von Stein — Regarded as Monaco’s leading agency dedicated exclusively to private property sales, as well as luxury apartment rentals in and around the Principality.

A comprehensive and current list of member agencies can be found through the Chambre Immobilière Monégasque agency directory. This is a dependable starting point, since all members are held to professional standards and subject to oversight. As agency presence may change over time, readers should verify up-to-date details through current local sources.

Do estate agents in Monaco need qualifications or a licence to operate?

Real estate agents in Monaco are subject to regulatory requirements and must obtain certification from the relevant local authority before conducting business. They are also bound by declaration obligations relating to the prevention of money laundering. This regulatory framework has been in place since Law No. 1.252 of 12 July 2002, though it has historically been considered less comprehensive than equivalent systems in certain other jurisdictions.

Every real estate agent in Monaco must hold a professional licence issued by the government. This licence authorises individuals to practise as licensed agents, brokers, or real estate companies within the Principality, and specific conditions must be satisfied before it can be obtained. The licence to operate as a real estate professional is granted by the Monaco Department of Economic Development, and it must be secured prior to commencing any property sales activity.

The Chambre Immobilière Monégasque formally represents Monaco’s real estate professionals before public authorities and the Fédération des Entreprises Monégasques. All members are obligatorily covered by a bank guarantee and carry professional civil liability insurance. A dedicated disciplinary commission addresses unprofessional conduct by member agents, thereby underpinning the overall standard of practice across the industry. The Chambre Immobilière Monégasque’s website is: chambre-immobiliere-monaco.mc.

It is important to be aware that Monaco’s regulatory framework is currently undergoing substantial reform. On 24 September 2025, Monaco introduced Bill No. 271 to modernise the real estate professions, bringing in new residency and ownership requirements for agency directors, mandatory professional identity cards, tighter advertising rules, and increased sanctions — representing a significant turning point in how real estate activity is regulated in the Principality.

If the bill is adopted, professionals will be required to hold a licence card that clearly identifies the holder, the trading name of the establishment, the company’s corporate name where applicable, and the scope of authorised activities. Card holders will also be required to complete initial training within the first year of taking up their role, followed by periodic refresher training every five years as a renewal condition.

By comparison, in the UK estate agents are overseen by bodies such as The Property Ombudsman and must comply with the Estate Agents Act 1979; Monaco’s system has historically operated with a lighter regulatory touch, though the proposed 2025 reforms aim to close much of this gap. In the US, state-issued licences are compulsory for all practising agents and consumer protections are enforced at state level — a more prescriptive model than Monaco currently operates, though this is changing. Buyers should verify the current state of regulatory requirements directly with the Chambre Immobilière Monégasque or the Monaco Department of Economic Development, since the legislative reforms described above may have progressed since this article was published.

How much do estate agents charge in Monaco, and who pays the fees?

Monaco operates a dual-commission model that sets it apart from many other property markets. Unlike France or Germany, where the agent’s fee is typically borne by the seller alone, in Monaco both the buyer and the seller are required to pay a commission to the agent. This is a material financial consideration that buyers must incorporate into their overall budget from the outset.

As of 2025, agencies such as Ageprim charge a 5% fee to the seller and a 3% fee to the buyer, in line with the Chambre Immobilière de Monaco’s established rates. Both fees attract 20% VAT on top of the stated percentage. In summary, industry norms as of 2025 indicate agent fees of approximately 5% (plus 20% VAT) for sellers and 3% (plus 20% VAT) for buyers, though these figures can vary between agencies and should always be confirmed directly with the agent before any instructions are given.

Sellers of real estate in Monaco are not subject to capital gains tax on property disposals, and buyers carry their own commission obligation to the agent. This is distinct from markets such as Australia or New Zealand, where the seller customarily bears the agent’s full fee, and means that both parties in a Monaco transaction face commission costs.

Under the proposed 2025 legislative reforms, all real estate transactions will need to be underpinned by a written mandate of defined duration, and commissions or fees may not be charged until the transaction has been successfully completed. Once enacted, this will mean that a formal written agreement setting out fee arrangements must be in place before any work begins — bringing greater transparency than has traditionally been the case. Readers should check with the Chambre Immobilière Monégasque for the current status of these requirements.

As a practical guide to total acquisition costs: on the purchase of resale property, overall costs and fees amount to approximately 6.25% of the purchase price, payable by the buyer. This figure comprises registration duty (4.75%) and notarial fees (1.5%), applicable where the purchase is made by an individual or a Monaco SCI. Buyer agent fees of around 3% (plus VAT) are payable on top of this, bringing the total acquisition cost for individual buyers to typically 9–10% above the purchase price. Always verify the most current figures with your notary and agent before budgeting.

Where else can buyers find properties for sale in Monaco, apart from estate agents?

While estate agents dominate Monaco’s property market, several complementary channels are worth exploring — particularly for buyers carrying out their initial research from abroad.

Dedicated property listing websites

The two primary routes to locating property for purchase in Monaco are local agencies and online property platforms. The most useful aggregator for Monaco listings is the Chambre Immobilière Monégasque’s official portal, which consolidates properties from member agencies and provides a reliable starting point. International portals such as Rightmove Overseas, JamesEdition, and Kyero carry a selection of Monaco listings submitted by individual agencies and can be useful for forming a preliminary picture of price ranges and available stock before committing to a particular agent.

Individual agency websites

Many of the leading agencies — including Savills Monaco (en.savills.mc), Ageprim (ageprim.com), and Monaco Properties (monacoproperties.mc) — maintain searchable property databases on their own websites. Because many listings are held exclusively by a single agency and are not shared across a multiple listing system of the kind used in the US or Canada, browsing a number of individual agency sites is often essential to build a comprehensive view of what is actually available.

Expat forums and community networks

Expat-focused networks can serve as a valuable supplementary resource. Monaco’s expat community is active, and word-of-mouth referrals — including awareness of off-market properties — are commonplace. Working with a reputable local agent is strongly recommended, as they can provide access to listings that never surface publicly. Online expat forums and communities centred on the Côte d’Azur and Monaco can also surface useful contacts and informal leads, though any off-market deal should still be managed through a licensed professional and a notary.

Developer direct sales

For buyers interested in new-build property, Monaco periodically introduces contemporary residential complexes. New developments such as the Mareterra district are sometimes marketed directly by developers or through a small number of appointed agents. The Mareterra land extension project — the largest construction undertaking completed in the Principality in decades — adds considerably to the total stock of property available in Monaco and accommodates up to 1,000 residents. The project reached completion at the end of 2024 and includes additional public outdoor spaces. Monitoring developer announcements and Chambre Immobilière Monégasque communications is advisable for those interested in new-build opportunities.

Notarial offices

All property purchases in Monaco must be executed with the involvement of a notary, who is responsible for finalising real estate transactions, conducting due diligence, verifying legal title, and managing the transfer of funds and ownership. Engaging a notary at the earliest possible stage is recommended; there are three established, government-regulated notarial offices in the Principality. Notaries occasionally become aware of properties ahead of their formal listing with agents and can therefore be a valuable early point of contact.

Property magazines and press

Monaco-focused publications such as Monaco Property Magazine (monacopropertymag.com) and regional titles covering the Côte d’Azur — including Côte Magazine — carry property advertising and editorial content that can help buyers monitor market trends and identify agencies active in specific neighbourhoods. Online news outlets such as the Monaco Tribune and Monaco Life also periodically publish coverage of new developments and market commentary.

Is using a buyer’s agent common practice when purchasing property in Monaco?

Dedicated buyer’s agents — professionals who act solely on behalf of the purchaser with no connection to the seller — are less well established in Monaco than in a number of other major property markets. In Australia, for instance, buyer’s agents (sometimes called buyer’s advocates) are a recognised profession regulated at state level. In Monaco, the practice is gaining ground but remains a specialist offering rather than a standard expectation.

Some agencies in Monaco do provide a formal buyer-representation or “search mandate” service. Under this arrangement, the agent acts as a dedicated buying agent, canvassing the full market, securing access to both publicly listed and off-market properties, and negotiating exclusively in the buyer’s interest — an approach that can meaningfully strengthen the buyer’s position when it comes to agreeing terms.

A specialist buying agent or broker can provide valuable insight into local market conditions and assist in navigating the purchase process; however, a fee will generally apply for this service. Where a buyer’s agent service is offered, fees are typically structured as a percentage of the purchase price, broadly in line with the standard buyer’s commission of around 3% (plus 20% VAT) noted above (as of 2025). Some agents may alternatively offer a flat-fee arrangement or a retainer for intensive search work. Fees vary between providers and should be confirmed directly with individual agents, as no single published schedule governs buyer-agent-only arrangements.

Because Monaco agents often hold seller mandates yet also assist buyers in practice, the market functions differently from the UK buyer’s agent model, where a firm is retained purely to represent the purchaser and is paid exclusively by them. What Monaco buyers typically do instead of appointing a separate buyer’s agent is to build a close working relationship with one or more trusted agencies, providing a detailed brief and relying on their network access. Appointing a notary early in the process also provides an important layer of independent legal oversight that safeguards the buyer’s interests throughout.

Are there organisations in Monaco that support or represent foreign property buyers?

Monaco does not have a single dedicated government body or independent institution specifically established to protect or assist foreign property buyers in the way that, for example, the UK’s Property Ombudsman or Australia’s state-based consumer affairs bodies serve property purchasers. Nonetheless, several organisations and institutions offer relevant guidance and protection:

Chambre Immobilière Monégasque (Monaco Real Estate Chamber)

The Monaco Real Estate Chamber is the official representative body for real estate professionals in the Principality. While it exists primarily to represent its member agencies rather than individual buyers, its disciplinary commission provides a route through which complaints about member agent conduct can be raised. Every member is obligatorily covered by a bank guarantee and carries professional civil liability insurance, and the disciplinary commission addresses unprofessional behaviour, thereby underpinning standards across the profession.
Address: 27, Boulevard des Moulins, 98000 Monaco
Website: chambre-immobiliere-monaco.mc

Monaco Notaries

The notary’s role is central to the transaction — not only for ensuring legal validity but also for guiding buyers through the complexities of local law. Monegasque notaries hold exclusive authority over real estate transactions, the administration of estates, marriage contracts, and the formation of business entities. There are three notarial offices in the Principality, all regulated by the government. The notary operates as an independent state officer, and unlike a lawyer acting for one party, is obliged to ensure the legality of the transaction on behalf of all parties. Contact details for the three notarial offices as listed in official sources are:
Me Paul-Louis Aureglia, 4 Boulevard des Moulins, (+377) 9325-0707
Me Louis-Constant Crovetto, 26 Avenue de la Costa, (+377) 9350-5413
Me Henry Rey, 2 Rue Colonel Bellando de Castro, (+377) 9330-4150

Barreau de Monaco (Monaco Bar Association)

Foreign buyers who wish to obtain independent legal advice — separate from the notary’s role — should consult a qualified Monegasque lawyer (avocat). The Monaco Bar Association can assist in identifying lawyers with expertise in real estate and property law. It can be contacted through the official Monaco government portal at gouv.mc.

Monaco Government — Direction de l’Habitat (Housing Department)

The Monaco government’s Direction de l’Habitat oversees housing regulation within the Principality, including the rules governing protected and state-owned housing. Its guidance is relevant to buyers who want to establish clearly which properties are available on the open market and which are subject to restricted-use conditions. Information is accessible via the official government portal at gouv.mc.

Monaco Economic Board / Invest in Monaco

Buyers approaching Monaco property as an investment may find the Monaco Economic Board (monaco-economic.mc) a useful resource, as it provides guidance on the Principality’s economic and regulatory environment, including information relevant to foreign investors structuring an acquisition through a corporate entity or holding vehicle.

What other steps or considerations should foreign buyers be aware of when searching for property in Monaco?

No restrictions on foreign ownership — with one caveat

Foreign nationals may purchase property in Monaco without restriction. There are no citizenship- or residency-based limitations on ownership, meaning anyone — regardless of nationality — can legally acquire real estate in the Principality. That said, certain public or “domaine” properties are reserved for Monegasque nationals or are subject to strict allocation conditions, and these are not available for open purchase by foreigners. The freely purchasable market consists of private-sector properties, which constitute the majority of available stock.

The role of the notary

Every property purchase in Monaco must involve a notary, who takes responsibility for completing the transaction, conducting due diligence, verifying legal title, and managing the transfer of funds and ownership. Appearing before a Monegasque notary is mandatory for all real estate acquisitions. The notary is not the buyer’s personal legal adviser — they are a state-appointed officer whose duty is to safeguard the legality of the transaction. Buyers who require dedicated legal counsel should engage a separate Monegasque lawyer for that purpose.

No cooling-off period

Buyers commonly sign an offer or preliminary contract at an early stage of the process, but it is essential to understand that Monaco’s real estate market affords no “cooling-off” period or equivalent consumer protection. This demands that investment decisions be considered carefully and thoroughly before any documents are signed. Unlike France, where residential buyers benefit from a statutory 10-day withdrawal period following signature of a preliminary contract, Monaco offers no comparable right. Once a written offer is accepted, it becomes legally binding on both parties.

Language considerations

French is the official language of Monaco, and all legal documentation — including the preliminary contract (compromis de vente), the mandate, and the final deed of sale — is drafted in French. Most major agencies operate multilingually and can explain documents in English, Italian, Russian, and other languages. However, the legally binding version of every document will always be the French original. Translation and authentication of foreign documents may also be required, particularly for non-European buyers, and additional paperwork may be needed depending on the nature of the property or the buyer’s circumstances. Buyers should budget for translation costs and, where necessary, apostille certification of foreign documents.

Anti-money laundering compliance

When financing an acquisition, foreign buyers must comply with anti-money laundering regulations, which constitute an important and non-negotiable compliance requirement. Buyers should expect to provide detailed evidence of the source of their funds at an early stage — a step taken seriously by both agencies and notaries in Monaco. The scope of this requirement is broadly comparable to the Know Your Customer (KYC) procedures now standard across most European property markets, but may be more extensive than some buyers anticipate.

Banking and financing

Non-residents may apply for property financing through Monaco-based banks, though lending terms tend to be more conservative than in many other jurisdictions, with loan-to-value ratios often capped at 50–60%. While Monaco is genuinely welcoming to foreign investors and its financial institutions are experienced in dealing with international clients, buyers should typically expect to provide a substantial down payment of 30–50%. Opening a Monaco bank account ahead of the transaction is advisable, particularly where local financing is being arranged.

Property registration

Following signature of the deed, the notary registers the sale with the Monaco Land Registry. In the interim — after the deed has been signed by both parties but before registration is complete — the buyer receives a completion certificate (attestation de vente) that serves as proof of ownership. The Monaco Land Registry (Service des Domaines et du Patrimoine de l’État) operates under the Prince’s Government. Official information on land registration is available via gouv.mc.

Step-by-step purchase process

The key stages in a Monaco property purchase can be summarised as follows:

1. Define your brief and appoint an agent: Most buyers begin by establishing a clear brief covering size, location, budget, and lifestyle priorities — whether the goal is a Monte-Carlo pied-à-terre, a modern apartment in Larvotto, or a family home in Fontvieille. Verify that any agent you instruct is registered with the Chambre Immobilière Monégasque.
2. Arrange proof of funds early: Confirmation of financing or proof of funds is typically secured at an early stage to facilitate negotiations. Anti-money laundering checks will require documentation evidencing the origin of funds.
3. Appoint a notary: Engage one of the three Monegasque notarial offices as early in your search as possible. The notary will conduct due diligence and manage the entire legal process.
4. Submit a written offer: The first formal step in the legal process involves the buyer submitting a written offer to purchase, specifying the price and the period for which the offer is valid — typically between two and five days.
5. Sign the preliminary contract (compromis de vente): Once the right property is found and price and conditions are agreed, both parties sign a preliminary agreement (compromis de vente). Bear in mind that there is no cooling-off period once this document is executed.
6. Pay the 10% deposit: After the preliminary contract is signed, the buyer pays a deposit — typically 10% of the purchase price — into an escrow account held by the notary.
7. Complete the transaction at the notary’s office: Prior to completion, the remaining purchase price, registration duties, and notary and agent fees must all be paid to the notary. The final deed of sale is signed at the notary’s office, though buyers unable to attend in person may sign remotely via a power of attorney prepared by the notary.
8. Registration: Once all documents are signed and all payments received, the notaire registers the property with the Monaco Land Registry. Until registration is finalised, the buyer holds an Attestation de Vente as documentary proof of ownership.

Frequently asked questions

Can I search for property in Monaco remotely before visiting in person?

Yes. Most of the leading agencies — including Savills Monaco, Ageprim, and BALKIN — maintain searchable online databases and offer multilingual teams available for initial consultations by video call. The Chambre Immobilière Monégasque website also enables remote browsing across member agency listings. That said, because a substantial proportion of Monaco’s available properties are off-market and accessible only through agent relationships, making contact with one or more agencies early — even from abroad — is strongly advisable. You will still need to be present in Monaco in person (or grant a power of attorney to your notary) to complete the purchase.

Do I need a local bank account before I can buy property in Monaco?

For cash buyers, having a Monaco bank account is not a strict legal requirement, but it simplifies the transfer of funds into the notary’s escrow account and helps satisfy anti-money laundering obligations more smoothly. If you are seeking a Monaco mortgage, a local account will be necessary. Setting one up well before signing any agreement is the recommended approach regardless of how the purchase is being financed.

What happens if the seller withdraws from the sale after the preliminary contract is signed?

Monaco property contracts are legally binding on both parties from the moment they are signed. Pre-contracts for real estate sales are always treated as binding agreements. If a seller withdraws after the preliminary contract has been executed and the deposit paid, they will typically be liable to compensate the buyer in a sum equivalent to the deposit — effectively meaning the buyer recovers double the amount deposited. The precise remedies available will depend on the specific terms of the contract and should be discussed with your notary or lawyer.

Is there a property tax or capital gains tax I should budget for in Monaco?

Monaco does not levy income tax, capital gains tax, or wealth tax on individuals. There are no annual property taxes or wealth taxes applicable to real estate holdings, making the ongoing cost of ownership particularly favourable for foreign investors. The principal transaction costs are the registration duty and notary fees (approximately 6.25% of the purchase price for individual buyers of resale property, as of 2025), together with buyer agent fees of approximately 3% plus VAT. Always confirm current rates with your notary before finalising your budget.

Is there a cooling-off period after signing a preliminary contract in Monaco?

There is no cooling-off period or consumer credit protection available in Monaco’s real estate market. This stands in contrast to France, where a statutory 10-day withdrawal right applies to residential purchases. In Monaco, the moment a written offer is accepted or a preliminary contract is signed, both parties are fully and legally committed. Thorough due diligence — encompassing legal, financial, and structural checks — should be completed before any documents are executed.

How competitive is the Monaco property market, and how quickly must I act?

The Monaco property market is exceptionally competitive, with only a few hundred transactions occurring each year in one of the smallest and most densely built territories in the world. Properties change hands rapidly, and buyers who delay between identifying a suitable property and submitting a formal offer risk losing it to another purchaser. It is strongly advisable to have proof of funds or a mortgage pre-approval confirmed before beginning viewings, and to have a notary appointed and briefed so that the legal process can start immediately once a property is identified.

Do contracts have to be in French, and can I get a translated version?

Yes — all legal documents in Monaco, including the preliminary contract and the final deed of sale, are drafted in French, which is the Principality’s official language. Most major agencies offer multilingual support and can explain documentation in other languages, but the legally binding version of any contract will always be the French-language original. Buyers who are not fluent in French are strongly advised to appoint a bilingual Monegasque lawyer to review all documents prior to signing. Translation and authentication of foreign documents may also be required, particularly for buyers from outside Europe.

Can I buy property in Monaco as a company or holding structure, and does it change the costs?

Yes, it is possible to acquire Monaco property through a corporate vehicle — either a Monegasque SCI (Société Civile Immobilière) or a foreign company. However, the cost implications differ significantly depending on the structure used. Registration tax stands at 6% for individual buyers or a Monaco SCI, but rises to 9% for foreign companies, meaning that purchasing through an overseas corporate entity carries substantially higher acquisition duties. The choice of ownership structure has significant legal and fiscal implications and should be carefully discussed with a Monegasque lawyer and tax adviser before any decisions are made.