Monaco Real Estate Guide: Market Trends and Opportunities

When it comes to luxury real estate, nowhere does things quite like Monaco.

This tiny but ultra-exclusive principality isn’t just a place to live – it’s a global symbol of wealth, prestige and financial freedom.

In 2025, Monaco remains the world’s most expensive real estate market, with average property prices soaring beyond €51,000 per square metre to the dizzying heights of €100,000+ per square metre in the most sought-after areas.

Yet, for the ultra-rich who either make Monaco their home or just their investment, price is no obstacle. 

The draw of Monaco goes far beyond real estate. Zero personal income tax, unmatched security and a world-class lifestyle make it one of the most desirable addresses in the world.

From the risk and glamour of Monte Carlo’s casinos (there’s more than one) to the sun-drenched shores of Larvotto, Monaco attracts billionaires, business moguls and celebrities like nowhere else.

But buying real estate here is complex, so whether you’re looking for a home, a getaway or a wise investment, Nomad Capitalist’s comprehensive guide will give you the inside track on everything you need to know about investing in Monaco real estate.

The guide outlines the benefits and potential of Monaco real estate investments and sheds some light on alternative markets you might have never considered.

Benefits of Investing in Monaco Real Estate

Before we get into the essentials of investing in real estate in Monaco, here are the main reasons this tiny state remains an exceptional real estate investment destination:

• Tax-Friendly Policies: Zero income and property tax is a major draw for many, especially the many millionaires who invest there. Residents can also benefit from no wealth, capital gains or local taxes.
• Safety and Security: The Principality enjoys one of the lowest crime rates in the world, providing investors and residents a strong sense of security.
• Strong Market: Monaco’s real estate sector continues to thrive, showing remarkable stability even amidst global economic fluctuations.

Why Invest in Monaco Real Estate?

Monaco’s real estate market is poised to maintain its remarkable growth in 2025.

Known for its exclusivity and stability, the principality stands as one of the globe’s most sought-after property markets.

Owning property in Monaco is the ultimate status symbol and offers an exceptional lifestyle.

The second-smallest country in the world has a compact area of only 2.08 km², resulting in consistently high real estate demand.

Monaco’s real estate market is known for its stability and resilience. Due to ongoing developments and infrastructure refinements, the market shows strong potential for appreciation.

Despite its tiny size, Monaco offers diverse property types. While apartments are common due to space issues, there’s also potential in luxury apartments, penthouses and standalone villas.

Monaco Market Trends and Opportunities

A Knight Frank report highlights a significant divide in Monaco’s property market in 2024. 

The average price of newly built properties soared to €36.4 million compared to €6 million for resales.

While overall sales increased by 12%, this growth was primarily driven by new developments. Monte Carlo remains the most active district, accounting for a third of these sales.

New-build sales soared to 101 units in 2024, a significant increase from 28 the previous year and the highest since 2006, driven mainly by the completion of Mareterra and Bay House.

Monaco’s resale market hit record prices in 2024, with the average cost per square meter reaching €51,967, marking a 1.1% annual increase and a 44.3% rise over the past decade.

Demand continues to exceed what is available. Even though we’re seeing an uptick in new property completions, the pipeline for development remains constrained, which is likely to keep pushing prices higher. 

And, as already mentioned, the tiny area of Monaco means new development opportunities are extremely limited.

With the UK set to eliminate its non-dom regime in April, which attracted many wealthy investors, Monaco may experience even greater demand.

Eco-Living

Sustainability is now a fundamental aspect of life, and this extends to luxury living.

In Monaco, developments such as Mareterra, located in the eco-district, are at the forefront of this change.

More investors and buyers are seeking properties that use green building materials and incorporate energy-efficient designs.

Technology Enhanced Real Estate

High-net-worth individuals are increasingly looking for properties that come with state-of-the-art smart home technologies.

The demand for integrated security systems, energy management solutions and voice-controlled environments is on the rise.

Demand for Rental Property

Monaco continues to be an appealing destination for buyers and investors aiming for strong rental yields.

The presence of wealthy expats and international entrepreneurs generates a steady demand for rental properties, contributing to reliable returns for property owners.

Purchasing Real Estate in Monaco

The average cost per square metre in Monaco ranks among the highest worldwide, with prices exceeding €50,000 to €120,000.

This unique real estate environment reinforces Monaco’s status as a safe investment and highlights its potential for value appreciation.

Residence and Citizenship in Monaco

Understanding the current real estate market climate is especially applicable to those pursuing residence.

To gain residency in Monaco, applicants must meet the following requirements:

• Accommodation: Provide proof of rental or property purchase
• Proof of funds: A minimum bank deposit of €500,000 (although most banks only accept €1,000,000), with a €500,000 property investment
• Net worth/income: Have a net worth of over €2 million or an annual income of at least €300,000
• Criminal record: Have a clean criminal record from the last two countries resided in for over 90 days within the past five years.

To become a naturalised citizen, you must live in Monaco for at least ten years. You can apply for citizenship within a year if you have held residency with a Privileged Resident Card.

A significant drawback is that dual citizenship is not allowed in Monaco. However, a benefit is that children under 18 automatically receive Monegasque nationality and the associated tax advantages.

A Monaco passport grants holders visa-free, visa-on-arrival or eTA (electronic Travel Authorisation) access to 168 countries, although, according to the Nomad Passport Index, it only ranks 24th overall in terms of power. 

The biggest downside is that Monaco doesn’t permit dual citizenship, so you’ll need to give away your existing citizenship to get your hands on a Monaco passport.

Taxation in Monaco

Monaco abolished income tax in 1869, becoming Europe’s only zero-tax jurisdiction and a haven for the wealthy.

There are also no gift or inheritance taxes for direct-line beneficiaries, though siblings face an 8% tax, and gifts to unrelated individuals incur a 16% tax.

Companies in Monaco are taxed at 33.3% if more than 25% of their revenue comes from abroad, but there are exemptions for new companies. If you set your business up strategically, you could only face a 2.8% corporate tax rate.

A value-added tax (VAT) of 20% applies to most goods, with reduced rates for essentials.

Pros of Investing in Monaco Real Estate

As highlighted above, there are plenty of benefits for those looking to invest in real estate in Monaco:

• High-End Market: This is one of the world’s most exclusive countries. For those who secure residency in Monaco, the benefits include high-end shopping, exquisite dining and prestigious events like the Monaco Grand Prix and the Monte Carlo Masters on their doorstep.

• Safety and Security: The principality and city state are renowned for an exceptionally high level of security, with over 1,100 surveillance cameras and a robust police presence, giving investors and full-time residents absolute peace of mind.

• Luxury Lifestyle: Monaco offers a high-end cultural and social scene. From Michelin-starred dining to world-class events and entertainment, the principality rivals Europe’s largest capitals while maintaining its intimate charm. Residents also enjoy proximity to beaches and ski resorts, making Monaco a year-round luxury destination.

Cons of Investing in Monaco Real Estate

While Monaco real estate has its major opportunities, it’s not for everyone. Here are some of the biggest downsides of investing in property here:

• Supply vs Demand: Monaco’s demand for high-value properties far exceeds the available supply. Studio apartments start at approximately €1 million, and larger residences command even higher premiums, particularly those with panoramic views or prime locations in districts such as Monte-Carlo and Larvotto. However, this also helps investors with steady appreciation.

• Management and Maintenance: Any property investment involves financial obligations, including insurance management and maintenance expenses. This is particularly true in Monaco.

• It’s Expensive: Sure, Monaco real estate might offer great returns, but it’s one of the highest-priced markets in the world. There are many real estate opportunities elsewhere that offer excellent prospects at a fraction of the price.

Real Estate in Emerging Markets

At Nomad Capitalist, we don’t believe in following the herd but instead look to the next frontier markets from an investment perspective. Monaco is a great prospect for property investment (if you can afford it). However, it’s important to keep looking at all the options. 

There are many other places where you can actually live, invest and potentially get a second passport. Here are just a few alternatives to Monaco real estate worth considering.

Turkey

Turkey has long been a favoured investment spot for wealthy Middle Easterners and, increasingly, for Westerners.

The Turkish government launched a citizenship-by-investment program that offers immediate citizenship to those who invest at least US$400,000 in real estate, provided they hold the investment for three years.

The program has become increasingly attractive in recent years and is now considered one of the better citizenship investment deals available.

Brazil

Brazil is a vast country, with some still undiscovered areas, especially in the northern parts of the country. This is a global powerhouse with one of the most diverse economies.

If you’re willing to live in Brazil, you can get a residence permit by buying real estate. You could then gain citizenship relatively quickly in just five years. However, taxes are not that favourable.

Although there is no official ‘economic citizenship program’, you can obtain a permanent visa by investing in real estate worth 1 million Brazilian reals (US$174,000) or 700,000 Brazilian reals (US$122,000) in the northern or northeast regions.

Brazil offers plenty of property options for various lifestyles and business needs.

Colombia

For the money you would put into real estate in Monaco, you could easily invest and live like a king in Colombia. Consider the up-and-coming markets in Bogota or Medellin. 

Investing around US$120,000 in real estate grants immediate permanent residency, which can lead to citizenship after five years with minimal residency requirements.

Montenegro

Montenegro has some of the most beautiful waters in the Mediterranean. As with Monaco, the ultra-wealthy, have been enjoying its stunning shores and tax incentives for a while.

To obtain residency, you need to buy a habitable property with at least 12 square metres per family member.

Small apartments near the sea start around US$30,000 to US$75,000 but may need renovations. Newer projects can begin in the mid-six figures.

Once you own property, you can apply for a one-year temporary residence permit.

Monaco Real Estate Guide: FAQs

Your Real Estate Plan

Investing in international property isn’t just about luxury – it’s about smart financial growth.

Many foreign properties appreciate faster than local markets, with rental yields in key locations reaching up to 15%.

But beyond returns, owning real estate abroad diversifies your portfolio, enhances asset protection and compliments offshore banking strategies.

A well-structured global portfolio of second homes and investment properties can offer both stability and profitability.

If you’re serious about offshore real estate, then reach out to us and let us help you.

Our proven, data-driven approach, coupled with our direct boots-on-the-ground experience, ensures you find the right markets, down to the best countries and neighbours, for your goals.

With more than a decade of experience and a trusted network of real estate experts, lawyers and accountants, we can streamline the buying process and give you a seamless path to international property ownership.

We call it going where you’re treated best. Let us help you get there.