Enquêtes

Real estate professionals are unanimous: the high-end British clientele is increasingly interested in establishing residency in Monaco. The reasons include Brexit, of course, but more importantly, the looming end of the "Non-Dom" tax status in the UK. This change is prompting many wealthy residents to seek refuge under Monaco's sun.

In a country where real estate is the most expensive in the world, service rooms are sold or rented at exorbitant prices. Other small spaces, such as cellars and parking spots, are also traded at a premium. They are highly sought after for personal use but have also become investment products.

The real estate market in Saint-Jean-Cap-Ferrat is dominated by prestigious villas with lush gardens. Sky-high prices have made this small French town an exclusive haven for a select, international clientele, with 80% of the properties being secondary residences. Key words: prestige, tranquility, and privacy.

The Menton area is attracting an increasingly diverse clientele. Demand for long-term rentals is exceeding supply, making the seafront progressively less accessible for locals. In response, the municipality is ramping up construction projects, especially in the higher areas of the city, to address the needs of working professionals and families.

A key pillar of Monaco’s economy, the construction sector was the Principality’s third-largest employer in 2023, with 6,645 employees (excluding temporary workers). However, this figure may significantly decrease soon. The major projects of Testimonio, Mareterra, and the Ilot Pasteur are nearing completion, and no new large-scale projects are currently scheduled. Fabien Deplanche, president of Monaco’s Building Industry Employers’ Association, fears significant job cuts and potential cash flow issues for businesses in this sector.

Established in 2016, "La Conciergerie" offers customized services to tenants and owners residing in the five properties of the Michel Pastor Group. These bespoke services cater to a discerning clientele in search of comfort and tranquility, going well beyond typical hotel standards.

In terms of real estate, the three most expensive cities in France are located on the French Riviera, according to a recent study by the National Federation of Real Estate (FNAIM). Housing is generally more expensive in coastal resort towns compared to other areas, driven by heightened post-COVID demand and a higher quality housing stock, especially in the South. However, climate risks, previously overlooked, could soon start dampening this enthusiasm.

Monaco is witnessing the arrival of a new wave of residents: wealthy, younger, and dynamic families drawn by its international schools and safe, high-quality living environment. This demographic shift is pushing the Principality to adapt its infrastructure and expand its educational offerings to meet growing demand.  

Nestled at the gates of the Principality, Beausoleil has become a haven for Monaco's workforce and "the place to be" for investors seeking a close but more affordable alternative. With an extremely tight rental market, robust demand, and upscale projects in the pipeline, Beausoleil’s real estate market shows no signs of slowing down.

Although the Principality is a highly cosmopolitan area, with residents from more than 140 nationalities, Americans, Asians, Middle Easterners, and Latin Americans show limited interest in Monaco’s real estate market or establishing residency. Here’s why.