Transaction in Monaco
BUY A PROPERTY IN MONACO
If we analyze the statistics for the last 20 years, the real estate market in Monaco has shown steady, stable growth, making it a low-volatility market. Investing in Monaco is therefore a low-risk investment, with excellent prospects for capital gains.
To help you make the right decision and manage the administrative aspects of a transaction, Powers Properties provides a qualified team to accompany you every step of the way.
If a buyer wants to acquire a property, he must make a written offer to purchase, specifying the proposed price, and pay a deposit of 10% of the purchase price to be held escrow at the notary's office. This deposit will be refunded if the seller does not accept the written.
The list of documents required for the purchase of a property in Monaco:
For individual buyers :
- Identity documents.
- Current address and proof of address.
- Marital status; in the event of divorce, copy of divorce decree.
For corporate buyers :
- Articles of association signed by the managing director and certified as up to date
- For a Monegasque company, copy of the RCI dated less than 3 months; for a foreign company, copy of all incorporation documents
- List of beneficial owners (any shareholder holding 25% or more of the company's
shares)
What are the acquisition costs?
- Notary fees: 1.5% of the purchase price. For bank loans, an additional 1% of the loan amount.
- Registration fees: 4.75% of the purchase price.
- Agency fees*: 3% of purchase price + VAT (20%)
*Official rates of the Monegasque Real Estate Chamber
SELL A PROPERTY IN MONACO
In Monaco, unlike most other countries, signing a sales mandate is not mandatory. However, we recommend that our vendor clients sign an exclusive mandate to optimize the marketing and distribution of their property, and increase the chances of completing the transaction.
To discover the advantages of an exclusive mandate, click here
To sell a property, all you have to do is authorize a local real estate agency to include it in its
sales listings.
The seller must pay the agency commission of 5% plus VAT*. There are no other fees.
*Official rates of the Monegasque Real Estate Chamber
To sell a property, the real estate agency must collect the following documents:
- ID of owner(s) and proof of residence
- Marital status; in the event of divorce, copy of divorce decree
- Certificate of ownership
If the seller is a company :
- Articles of association signed by the managing director and certified as up to date.
- For a Monegasque company, copy of the RCI dated less than 3 months; for a foreign company, copy of all incorporation documents
- List of beneficial owners (any shareholder holding 25% or more of the company's shares)
In addition, the seller must provide :
- The latest building service charge statements
- The last three general assembly reports.
- A floor plan of the apartment, drawn up by a certified surveyor in Monaco.