Property buying guide for Monaco
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Mortgages in Monaco

Mortgages are available to foreign borrowers in Monaco. Loans can be issued to individuals, offshore companies, French property companies (Société Civile Immobilière) and Monégasque joint stock companies (Société Anonyme Monégasque).

In Monaco, taking a mortgage loan is beneficial thanks to the low ECB, which slid to a negative value in 2016.

Foreign mortgage loan terms in Monaco (as of January 2017) Source: Crédit Français, Lowell Finance, Tranio

LTV ratio 50-100%
Fixed rates 2.3-3.2% p.a.
Floating rates From 1.65% p.a.
Loan term 3-20 years
Maximum age of borrowerby the end of the loan term 75

According to Crédit Français, Tranio´s partner in France, Monégasque banks can finance 100% of the property value, commission fees and notarial charges in cases when borrowers are willing to deposit at least 50% of the loan amount into the lending bank's account. These funds are transferred to bank deposits or investment portfolios at the client's discretion.

Monégasque banks can also issue loans to buy residential property in France.

Documents

Mortgage applications in Monaco require the following documents:

  • proof of income (salary, savings, investment or rental income)
  • proof of identity (passport)
  • information on disbursements (bank statements and data on current loan payments)
  • cost estimate statement issued by a licensed appraiser (for renovation loans)

Documents must be translated into French and notarised.

The loan approval process typically takes 4-6 weeks.

Extra costs

Non-recurring mortgage costs in Monaco range from €500 to €6,000, excluding fees, which can amount to up to 2% of the loan amount. In addition, buyers are responsible for additional annual property insurance payments.

Additional mortgage costs in Monaco (as of January 2017) Source: Lowell Finance

Property appraisaland Due Diligence (if required) €500-6,000
Property insurance Calculatedindividually
Borrower's life insurance(optional)
Mortgage granting fee 0.25-1%of the loan amount
Loan registration notary fee 1% of the loan amount
Bank commissionfor asset management 0.5% of the amountof assets managed

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    Property buying guide for Monaco
    Article 1 of 1
    • Mortgage
    Tranio’s managers offer advice on buying real estate in Monaco
    Anna Boyarchukova
    Anna Boyarchukova
    Head of Residential Department
    +44 17 4822 0039
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    • Residence permit support
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