Excellent climate, the highest service level, proximity to French Cote d’Azur and prestige make the purchase of housing in very attractive for foreign buyers. The real estate of this tiny European country is considered to be one of the most floating in the world. There are no legal restrictions for foreigners who wish to purchase real estate in this country. However, due to the small area of the country, the number of objects offered for sale is not so large, and it is almost impossible to buy an undeveloped land. The property is offered on the secondary market, directly from the owner. There are no new buildings in Monaco because of the lack of space for construction. So there is no possibility for a developer to purchase a land plot.
As the territory of Monaco is limited, almost all real estate is located near the sea. Apartments in the city are the most affordable objects. However, this is not an economy class. The very fact of the location of the object in Monaco implies luxury. Therefore, even the most “modest” apartments can be located in an antique house with a beautiful interior.
Houses in Monaco are often situated within walking distance from the beach and include a terrace with a view of the sea, a private garden, and a heated pool. The most spacious villas in Monaco have a dozen living rooms, several bathrooms, an office and a library.
Those who are interested in commercial property in the country should pay attention to hotels, restaurants or shops. Such objects are also often offered for sale.
Due to the high prices of real estate renting in Monaco becomes very popular. A lot of objects are rented, especially in the summer season. Rental housing is also quite expensive, but it does not scare away wealthy tourists.
Housing in this microstate is traditionally one of the most prestigious in the world, and it is in the list of the most stable countries where investments have extremely low risks. The crisis has had little impact on the housing market. The only thing it has affected is probably a temporary refusal of the authorities to expand the territories artificially.
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