what buyers should know about property fees in monaco
Buying property in Monaco is a significant investment that requires a clear understanding of the costs involved. Beyond the purchase price, buyers must take into account agency commission, notary fees, and additional expenses that are part of any real estate transaction in the Principality. This guide outlines the main costs and fees associated with purchasing property in Monaco to help you prepare with confidence.
OVERVIEW OF MONACO PROPERTY PURCHASE COSTS
- Agency commission: 5% + VAT (seller) and 3% + VAT (buyer)
- Notary fees: approximately 6% of the purchase price
- Buyer responsibility: the buyer covers almost all costs in Monaco transactions
- Additional expenses: mortgage registration, bank transfers, professional advisory fees, renovations
- Seller responsibility: usually limited to legal representation and any capital gains tax in their country of residence
AGENCY COMMISSION IN MONACO
In accordance with the scale established by the Monaco Real Estate Chamber, commission fees for property purchases are 5 percent of the sale price plus VAT for sellers and 3% plus VAT for buyers.
These fees cover a full professional service including:
- Property valuation
- Photography and promotional material
- Targeted marketing across digital and print channels
- Organisation of property visits
- Management of negotiations through to signing
NOTARY FEES AND LEGAL COSTS IN MONACO
All property transactions in Monaco must be formalised by a notary. Buyers should budget for notary fees of approximately 6 percent of the purchase price. These fees cover:
- Legal verification of property title
- Drafting of official sale documents
- Registration of the property in the cadastre
- Collection of transfer duties and taxes
OTHER COSTS WHEN BUYING PROPERTY IN MONACO
Beyond agency and notary fees, buyers may face additional expenses such as:
- Mortgage registration fees if financing is required
- Bank charges for international transfers
- Professional fees for legal or financial advisors
- Renovation or refurbishment costs after purchase
BENEFITS OF WORKING WITH A PROFESSIONAL REAL ESTATE AGENCY
By choosing Dameno Monaco Real Estate, you benefit from over 40 years of expertise in guiding international buyers through the local market. Our brokers ensure every step from valuation to final signing is handled with efficiency and care.
SPEAK TO OUR AGENTS
Expert guidance throughout the property purchase process in Monaco
MONACO PROPERTY PURCHASE FAQ
What Percentage Is the Agency Commission in Monaco?
Agency commission is split between the parties: the seller pays 5% before tax + VAT, and the buyer pays 3% before tax + VAT.
How Much Are Notary Fees in Monaco?
Notary fees amount to 6% of the purchase price and are paid by the buyer.
Are There Unexpected Fees When Buying in Monaco?
Buyers should anticipate costs such as mortgage registration, bank charges, and professional advisory fees, in addition to agency and notary costs.
Who Pays the Fees in a Monaco Property Transaction?
Both buyer and seller pay agency commission at the official rates. The buyer is responsible for notary and most additional costs, while the seller covers their agency fee and legal representation.
