Buying Property in Monaco: The Steps of a Prestige Purchase
Buying in Monaco is nothing like a standard purchase in France or the UK. The market is narrow, properties sell fast, and the legal framework has its own rules. Here are the seven steps that mark an acquisition, from first thoughts to handover of the keys.
1. Define your project and your real budget
It starts with a simple question: what are you looking for, and for what use? Main residence, pied-Ã -terre, rental or wealth investment, each goal shapes the choice of neighbourhood, size and type of building. The budget must include acquisition costs from the outset: for a resale property bought in a personal name or through a Monaco SCI, expect around 6.25% of the price (4.75% registration duties and roughly 1.5% notary fees), plus agency fees. We detail these figures in our article on acquisition costs in Monaco.
2. Choose the purchase structure
Personal name, Monaco SCI or another structure: this choice is made before the offer, not after. It depends on the number of buyers, transmission goals and each person's wealth situation. A non-transparent foreign company triggers considerably higher duties, which is worth checking with a Monaco notary before taking any step.
3. Search and view
This is where market knowledge makes the difference. A large share of properties change hands off-market, with no public listing, and the best units go within days. Being identified by an agency as a qualified buyer, with a clear budget and the ability to decide quickly, gives you priority access to these opportunities. The choice of neighbourhood is also settled here: see our comparison in the article on which neighbourhood to choose for your profile.
4. Make a purchase offer
Once the property is identified, the purchase offer is put in writing. It states the proposed price, any conditions and the intended date for signing. It comes with a deposit of about 10% of the price, held in escrow by the notary. When the seller accepts the offer, the buyer can no longer withdraw without forfeiting this deposit. This is when the commitment becomes real.
5. Sign a preliminary agreement if needed
In Monaco, a preliminary sale agreement is not mandatory. It becomes useful whenever the purchase depends on a suspensive condition, for example obtaining bank financing. It sets each party's obligations and the deadlines up to final signing.
6. Signing the deed at the notary
The notary brings the parties together to sign the deed. The buyer pays the full amount, price and costs included. The notary settles the registration duties with the State, pays the seller what is due and covers the fees owed. You become the owner at that precise moment.
7. Handover of the keys and residency steps
Once the deed is signed, you take possession of the property. If you plan to settle in Monaco, the purchase provides the proof of accommodation required for the residence card, provided the property suits the size of your household. Our explanations on this point are in the article on the conditions for living in Monaco.
What slows down or weakens a purchase
Problems almost always come from three sources: a budget that leaves out costs, a purchase structure chosen too late, or a decision that comes too slowly on a property with several interested parties. Anticipating these three points is often enough to secure the transaction.
How we help
We stay with you at every step, from setting the budget to signing at the notary, with priority access to properties that are never published. Preparing to buy in Monaco? Get in touch with our team to talk it through.
