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How to buy in Monaco and get your money back

Posted on Monday 04th January 2016 by Lesley Thomas

At first glance, the price of the property for sale in Monaco is eye-watering, but do some maths and it can be the best investment you ever make. If you can afford an apartment in the heart of Monte Carlo then it could end up paying for itself.

First of all there’s the tax situation. Become a full resident of Monaco and you don't have to pay any income tax. That’s why some of the world’s richest people and half the F1 grid have a residence in this tiny enclave on the Cote d’Azur. Your apartment in Monaco will ensure that you don’t pay on your earnings again, which can be enough to offset the price of the initial investment.

Then there’s the potential to rent it out. Investors often put money into Monaco because the property market is buoyant, the Principality is immune to the issues facing France, thanks to the fact that it is home to the super rich and, with constantly increasing demand for properties in the city, and no chance of building more thanks to the way this tiny nation is enclosed by mountains, property prices can only really go up.

Long term rents are good, but short term rents can be simply incredible. If the apartment has a view of the Grand Prix circuit, for instance, then renting the apartment out for the F1 race, the classic Grand Prix and other race meetings can generate massive income for just a few weeks of the year. With the ATP Tennis Masters, Top Marques Motor Show and a whole host of other events aimed at the rich during the course of the year, there is always something going on and always a chance to rent the apartment out for the short term for top dollar.

Holidaymakers are always looking to skirt high hotel costs, too. Monaco is famous for the high rollers, but everybody wants to come and soak up the atmosphere of one of the world’s richest places and short term rentals can make exceptional money as Monaco always comes with a premium price tag.

So even though it might take a while, you really could buy a place in Monaco, and eventually get your money back.

If you’re looking for property for sale in the South of France or Monaco, Horizon Property Investments can help. We can provide you with local knowledge and contacts to help you unearth your perfect property; get in touch today to find out more.

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