Monaco is one of the most expensive countries in the world, and the cost of living is very high, including rental prices. The country is known for its luxurious lifestyle and high-end properties, attracting many expats, especially those in the upper-income bracket. In areas such as Monte Carlo, the most popular and prestigious neighborhood in Monaco, rental prices can be extremely high.
A studio apartment in Monte Carlo can cost anywhere from €3,000 to €5,000 per month, while a one-bedroom apartment can cost between €5,000 and €10,000 per month. A two-bedroom apartment can cost between €10,000 and €20,000 per month, and a three-bedroom apartment can cost upwards of €20,000 per month.
Other popular areas for expats in Monaco include La Rousse, Larvotto, and Fontvieille, which offer slightly more affordable rental prices compared to Monte Carlo. In these areas, a studio apartment can cost between €2,000 and €3,000 per month, while a one-bedroom apartment can cost between €3,000 and €6,000 per month.
Rental Caps in Monaco
There are no rental caps in place in Monaco. Rental prices are determined by market demand and supply, and landlords are free to set their rental prices as they see fit.
Deposit and Rules for Its Return
When renting in Monaco, it is typical to pay a deposit equivalent to two months’ rent, which is held by the landlord as security for the property. The deposit is returned to the tenant at the end of the tenancy, provided that the property is in good condition and all rent payments have been made.
The rules for the return of the deposit are outlined in the rental agreement, which should be carefully read and understood by both the landlord and the tenant. The agreement should also include a detailed inventory of the property, including any furniture or fixtures, and the condition in which they should be returned at the end of the tenancy.
Changes in Rental Prices and Availability
Rental prices and availability in Monaco are largely unaffected by the time of year. The country has a stable economy, and rental prices remain high throughout the year, with demand for high-end properties consistently high.
However, some fluctuations in rental prices and availability may occur depending on major events and festivities taking place in the country, such as the Monaco Grand Prix, which attracts many visitors and may result in a temporary shortage of rental properties.
In conclusion, if you’re planning on renting in Monaco, be prepared to pay high rental prices, especially in popular areas such as Monte Carlo. It is also important to carefully read and understand the rental agreement and to keep track of your deposit and any other financial obligations during your tenancy.
