Settle in Monaco

Buying a property to renovate in Monaco can be one of the most attractive ways to enter the Principality's real estate market. In a territory where supply is extremely limited and demand remains consistently high, purchasing an older apartment with renovation potential offers a unique opportunity to create a tailor-made home in one of the world's most prestigious locations. However, renovating in Monaco is very different from renovating in a traditional residential market. Construction costs, administrative procedures, condominium regulations, technical constraints and project timelines all require careful planning before making a purchase. Why Consider Buying a Property to Renovate? Monaco's real estate market is defined by one key characteristic: scarcity. With a territory of just over two square kilometres, available properties are limited. Buyers are therefore often faced with two choices: Purchase a fully renovated apartment at a premium price. Buy an older property and create value through renovation. Monaco remains one of the most expensive property markets in the world, with average prices often exceeding €50,000 per square metre, depending on the district, building and market conditions. For many buyers, renovating offers several advantages: A lower purchase price compared to turnkey properties. The opportunity to redesign the interior layout. Modern open-plan living spaces. High-end finishes and bespoke interiors. Smart home technology integration. Better use of terraces and outdoor areas. The Real Renovation Cost per Square Metre Renovation costs vary significantly depending on several factors, including: The condition of the apartment. The age of the building. The desired level of finish. The complexity of the works. Building access restrictions. A light renovation generally includes: Painting. New flooring. Lighting upgrades. Cosmetic improvements. A complete renovation may involve: Electrical systems. Plumbing. Bathrooms. Kitchen installation. Air conditioning. Bespoke joinery. Technical installations. Luxury finishes. Typical Budget As a general guideline, buyers should expect a quality renovation in Monaco to cost approximately: €2,500–€5,000 per sqm for a high-quality renovation. More than €5,000 per sqm for luxury projects involving premium materials, bespoke furniture, marble, home automation systems and complex technical solutions. These figures should always be considered indicative. Several factors can substantially increase the final budget, including: Building regulations. Restricted working hours. Limited access for contractors. Condominium requirements. Delivery logistics. Waste disposal procedures. Obtaining detailed quotations before purchasing is therefore essential. Administrative Procedures and Building Regulations Before beginning any renovation project, buyers must determine whether the works are limited to the apartment's interior or affect: Structural elements. The façade. Windows. Air-conditioning systems. Common areas. Any feature visible from outside the building. Depending on the scope of the project, official authorisations may be required. Certain applications must also be signed by an architect registered with the Order of Architects of the Principality of Monaco. The Direction de la Prospective, de l'Urbanisme et de la Mobilité oversees urban planning, construction control and building authorisations within Monaco. Condominium Rules Administrative approval is only part of the process. Every buyer must also comply with the building's condominium regulations. The building manager (syndic) may require: Prior approval before works begin. Detailed technical documentation. Contractor insurance certificates. Compliance with authorised working hours. Protection of common areas. Specific delivery schedules. Organised waste removal procedures. Ignoring these requirements can result in delays and additional costs. How Long Does a Renovation Take? Project timelines vary considerably depending on the scale of the renovation. As a general indication: A light renovation may take only a few weeks. A complete renovation usually requires several months. The overall project should include far more than the construction work itself. A realistic schedule generally includes: Technical inspection of the property. Architectural design. Budget preparation. Contractor quotations. Administrative approvals. Condominium approval. Material ordering. Construction works. Final inspections. For a standard full renovation, buyers should usually allow three to six months, while luxury projects often require considerably longer. Turnkey Property or Property to Renovate? Choosing between a fully renovated apartment and a property requiring renovation depends largely on your objectives, budget and timeline. Advantages of a Turnkey Property A move-in-ready apartment offers: Immediate comfort. No construction delays. Greater budget certainty. The possibility of renting the property immediately. Fewer administrative procedures. For buyers who value convenience and want to avoid the complexity of renovation works, a turnkey property is often the safest choice. The downside is that the purchase price generally reflects the value of the completed renovation, leaving less room for customization. Advantages of Buying a Property to Renovate A renovation project may be the better option if you want to: Create a bespoke interior. Optimize the apartment's layout. Introduce premium finishes. Modernize outdated living spaces. Enter Monaco's market at a potentially lower purchase price. Many older apartments occupy exceptional locations but no longer meet today's standards. Renovation allows buyers to transform these properties into contemporary luxury residences tailored to their lifestyle. The Opportunity Presented by Older Buildings Older residential buildings in Monaco often represent hidden opportunities. While some apartments feature outdated layouts or finishes, they may also offer: Prestigious addresses. Exceptional sea views. Large floor plans. High ceilings. Excellent natural light. Strong architectural character. Because new developments remain scarce and extremely expensive, renovating an existing apartment can provide access to highly desirable neighbourhoods while creating a home that meets modern luxury expectations. In some cases, thoughtful renovation can significantly enhance both the property's functionality and its long-term appeal. What Buyers Should Check Before Purchasing Before committing to a renovation project, buyers should evaluate much more than the asking price. Important aspects include: The property's overall technical condition. Floor plan efficiency. Ceiling height. Natural light. Building façade. Condition of the common areas. Lift quality. Parking availability. Cellar or storage space. Potential noise issues. Long-term prospects of the building. Verify What's Actually Possible Not every renovation idea can be implemented. Before purchasing, it is essential to verify whether the planned works are technically and legally feasible. Certain modifications may be subject to restrictions, including: Relocating the kitchen. Moving bathrooms. Replacing windows. Installing new air-conditioning systems. Altering structural or load-bearing walls. Working with experienced professionals before making an offer can help avoid costly surprises later. A project team may include: An architect. A building contractor. An interior designer. A property advisor. The building's syndic. Their expertise can identify risks, estimate realistic costs and confirm whether the renovation is feasible before the purchase is finalized. Final Thoughts Renovating a property in Monaco can represent an outstanding opportunity—but only when approached with careful planning and realistic expectations. The purchase price is only one part of the investment. Buyers should also consider: Renovation costs. Professional fees. Administrative procedures. Building regulations. Project timelines. Technical constraints. Condominium requirements. For some buyers, a turnkey apartment will provide the greatest peace of mind and immediate enjoyment. For others, purchasing a property to renovate may offer the opportunity to create a completely bespoke residence while unlocking long-term value in one of the world's most exclusive real estate markets. House & Co: Guiding Your Renovation Project in Monaco At House & Co, we help our clients evaluate far more than the property itself. Our advice covers every stage of the project, including: Property acquisition. Renovation potential. Budget planning. Timeline evaluation. Investment strategy. Future resale opportunities. Rental potential. Our objective is to ensure that every acquisition is based on informed decisions, realistic expectations and a clear long-term vision, helping clients transform a renovation project into an exceptional Monaco property.

Monaco is one of the most exclusive real estate markets in the world. Whether you are moving to the Principality, expanding your presence, relocating for professional reasons or simply looking for a secure base on the Riviera, one question inevitably arises: Is it better to buy or rent in Monaco? The answer depends on several factors, including your personal circumstances, the expected duration of your stay, your financial objectives, your lifestyle and the level of flexibility you wish to maintain. Renting in Monaco: Flexibility and Simplicity Renting is often the most practical solution for people who are moving to Monaco or who are not yet ready to make a long-term commitment. It allows you to: Discover different districts. Better understand your daily lifestyle. Evaluate the best location before purchasing a property. Advantages of Renting The main advantage of renting is flexibility. It is particularly suitable if you: May need to relocate quickly. Expect professional changes. Want to experience life in Monaco before making a major investment. Renting also comes with fewer responsibilities, as major structural works and certain long-term maintenance obligations remain the owner's responsibility. Things to Consider Renting also has some limitations. As a tenant: You do not build property equity. You remain subject to lease conditions. Rental prices may increase over time. The owner ultimately decides whether to renew or sell the property. In Monaco's competitive rental market, finding the right apartment often requires speed, preparation, and a strong application file. Buying in Monaco: Stability and Long-Term Value Purchasing property in Monaco is widely considered a strategic long-term investment. Ownership offers: Long-term stability. Greater security. A permanent residence in the Principality. For buyers planning to stay for several years, purchasing can be particularly attractive thanks to Monaco's limited property supply and consistently strong international demand. Benefits of Buying Owning a property allows you to: Personalize your home. Renovate according to local regulations. Benefit from potential long-term capital appreciation. For many buyers, acquiring real estate in Monaco is also part of a broader wealth management strategy, thanks to the international prestige and resilience of the local market. Costs to Consider Buying requires a significant financial commitment. Beyond the purchase price, buyers should also consider: Notary fees. Agency fees. Renovation costs (if applicable). Building service charges. Ongoing maintenance expenses. Carefully evaluating the total investment before purchasing is therefore essential. Should You Rent or Buy? Renting May Be the Best Choice If You: Need maximum flexibility. Plan to stay in Monaco temporarily. Want to understand the market before investing. Prefer to avoid a significant upfront capital commitment. Buying May Be the Best Choice If You: Intend to settle in Monaco for the long term. Are looking for stability and security. Wish to invest in one of the world's most prestigious real estate markets. Want to build a valuable long-term property asset. Choosing the Right Solution for Your Goals There is no universal answer. Both buying and renting offer significant advantages depending on your personal circumstances, financial strategy and long-term plans. The best decision ultimately depends on: Your expected length of stay Your financial objectives Your lifestyle Your investment strategy House & Co: Helping You Make the Right Decision At House & Co, we help every client identify the solution that best matches their needs. Whether you are looking for: A rental property A primary residence A pied-à-terre A long-term real estate investment in Monaco our team provides expert guidance throughout every stage of the process, helping you make informed decisions with confidence.

The Monaco real estate market once again confirms its unique character. According to the 2025 Real Estate Observatory published by IMSEE, the Principality continues to demonstrate remarkable resilience, despite a more selective international environment. In 2025, Monaco recorded 493 real estate transactions, representing a 5.8% increase compared with the previous year. The total value of sales and resales reached €5.9 billion, a level that remains close to the historic records of the Monaco market. A market driven by scarcity In Monaco, land scarcity remains one of the main drivers of real estate value. With an extremely limited territory and constant international demand, every available property represents a strategic opportunity, whether as a primary residence, a pied-à-terre or a long-term investment asset. This scarcity explains why the Monaco market maintains a distinctive dynamic: transaction volumes may vary from one year to another, but values remain supported by structurally strong demand. New-build sales are slowing, but remain at a high level The new-build sales market declined compared with 2024, which was a particularly exceptional year. In 2025, 64 sales were completed, for a total value of €2.6 billion. This slowdown does not reflect market weakness, but rather a return to a more normal level of activity after an extraordinary year. New developments in Monaco remain rare, highly sought-after and often positioned in the most premium segment of the market. Resales confirm their strength The resale market, meanwhile, grew significantly. In 2025, resales reached 429 transactions, up 17.5%, for a total value of €3.2 billion, setting a new record. This performance confirms the importance of the secondary market in Monaco. Buyers are looking for well-located properties that are immediately available and offer lasting patrimonial value. Family apartments, renovated properties, sea views, terraces and central addresses remain particularly sought-after. A price per square metre that remains historically high The average price per square metre remains at an exceptional level. In 2025, it stood at around €57,569/sqm, slightly below the 2024 peak but still at a historically very high level. This stability confirms the depth of the Monaco market. Even when certain indicators readjust, Monaco retains its status as a safe-haven market, supported by security, taxation, quality of life and the international appeal of the Principality. Monaco, a market of arbitration and precision In such a demanding market, every real estate decision must be supported by precise analysis: location, building, floor, exposure, property condition, renovation potential, future liquidity and price consistency. For sellers, the environment remains favourable, provided that they adopt a realistic positioning fully aligned with the market. For buyers, selectivity is essential: the best opportunities do exist, but they require responsiveness, expertise and in-depth knowledge of the local market. Conclusion The 2025 Real Estate Observatory confirms that Monaco remains a real estate market apart: rare, solid, international and deeply patrimonial. In a sometimes uncertain global environment, the Principality continues to attract a demanding clientele seeking stability, prestige and long-term value. More than ever, Monaco real estate remains a strategic asset.

Visiting a property in Monaco is not simply about walking into an elegant apartment and imagining what life there could look like. In the Principality, every property represents a significant investment, often connected not only to quality of life, but also to wealth management strategies, tax residency, and long-term value appreciation. For this reason, viewing a property in Monaco requires a much more careful and strategic approach than in many other real estate markets. Behind a beautiful terrace, a sea view, or a prestigious residence, there may be technical, legal, or financial aspects that deserve close attention. One of the first elements to consider is naturally the location. Monaco may be a very small territory, but each district offers a completely different lifestyle. Living in the Carré d’Or is not the same as living in Fontvieille, just as Larvotto has a very different atmosphere compared to Jardin Exotique or La Condamine. During a viewing, it is important to ask yourself not only whether you like the apartment, but whether the neighborhood truly matches your daily lifestyle and expectations. Proximity to services, accessibility, traffic exposure, sunlight, and even the level of privacy and tranquility can significantly impact the overall living experience. Many buyers initially focus on the aesthetics of a property, but in Monaco it is essential to look beyond the finishes. Some of the Principality’s iconic buildings are highly prestigious, yet not always recent. This is why it is important to assess the actual condition of both the apartment and the residence itself, including technical systems, air conditioning, insulation, common areas, and any planned co-ownership works. A property that appears perfect at first glance may still require substantial investment in the medium term. Natural light also plays a crucial role. In a market where every square meter carries exceptional value, the quality of natural light can strongly influence both everyday comfort and the future value of the property. It is always advisable to visit a property at different times of the day in order to better understand its exposure, privacy, and overall atmosphere. One of the most important, and often underestimated, aspects for international clients concerns the legal status of the property. In Monaco, some properties are subject to specific regulations, including protected housing laws or rental restrictions. These regulations may significantly affect usage rights, rental profitability, and future resale potential. Before making any decision, it is essential to clearly understand under which legal framework the property falls and what implications this may have. In Monaco, details that may appear secondary elsewhere often make a considerable difference. A parking space, an efficient concierge service, a well-exposed terrace, or an open view can greatly influence both market value and long-term attractiveness. Buying or renting in the Principality means entering one of the most exclusive and competitive real estate markets in the world. This is why every property viewing should be approached with attention, preparation, and long-term vision. At House & Co., we guide our clients through every stage of their property search in Monaco, offering a personalized approach, strategic advice, and in-depth knowledge of the local market. Because in Monaco, a property is not chosen only with the eyes, but with experience and vision.

Relocating to the Principality of Monaco represents far more than a simple real estate project; it is a true lifestyle choice, particularly for families who place great importance on their children’s education. At House & Co., we observe that the quality of Monaco’s education system is a key factor in our clients’ decision to settle in the Principality. Monaco’s education system is renowned for its high academic standards and international outlook. Inspired by the French model, it stands out for its strong focus on student support, mastery of foreign languages, and integration within a multicultural environment. Schools benefit from significant resources, allowing for small class sizes and personalized academic follow-up. The educational offering is structured around public schools, state-subsidized private institutions, and international schools. From an early age, students can attend public schools such as École des Carmes, École du Parc, École Stella, École de Fontvieille, École Saint-Charles, École de la Condamine, and École des Révoires. These are complemented by private institutions under contract, including Institution François d’Assise – Nicolas Barré (FANB) and École Saint-Maur. For international families, Monaco also offers private schools providing English-language curricula and international programs, such as the International School of Monaco and the British School of Monaco. At the secondary level, students may continue their education at Collège Charles III or within the FANB institution, while the International School of Monaco offers an international pathway tailored to expatriate profiles. This continues with leading institutions such as Lycée Albert Ier for general and technological studies, Lycée Rainier III for vocational education, as well as Lycée FANB and the International School of Monaco, which prepares students for the International Baccalaureate (IB). The Principality also offers high-quality higher education opportunities, with institutions such as the International University of Monaco (IUM), Pavillon Bosio – École Supérieure d’Arts Plastiques, and the Institute of Nursing Studies. In this context, choosing the right property becomes a strategic decision. Proximity to schools, accessibility, and the surrounding neighborhood environment are key factors in ensuring optimal family organization. Thanks to its in-depth knowledge of the Monaco real estate market, House & Co. supports its clients in selecting properties that perfectly align with their educational needs and lifestyle. Moving to Monaco means offering your family a safe, structured environment focused on excellence. As a real estate agency, our role is to facilitate this transition by providing tailored support and expert guidance. For further information or assistance with your relocation project, the House & Co. team remains at your full disposal. For a comprehensive understanding of the education system in the Principality, you may consult the official booklet published by the Monaco Government at the following link: download