Selling a property under the viager system is a solution to consider for Monegasque citizens and Monaco Residents who own a real estate in the Principality and who have reached a “respectable age” …
You can, if you wish, keep a Right of Use and Habitation of the apartment, as part of the Inhabited Viager. You can also sell your property in Vacant Viager. Other solutions exist, such as Forward Sale or Bare Property which can perfectly adapt to your situation.
From the day of the sale of the property, you will receive a cash sum called “the bouquet” or lump sum. Then the buyer will pay you an annuity every month for the rest of your life.
Among all the good reasons to sell under the viager system, here are the 5 reasons that come up most often :
1/ Continue to live at home, without changing your habits.
As part of a Inhabited Viager, you continue to occupy your apartment, without any changes, for as long as you wish.
2/ Ensure your financial security and enjoy life.
Thanks to the bouquet and the annuities you will have the means allowing you to fully enjoy your life.
3/ Reduce your expenses by saving on charges and taxes.
No longer worry about the maintenance of your building, think of yourself and enjoy life.
4/ Cover yourself against the risks of downward trends in property prices and obsolescence of buildings.
After a very long period of price increases in Monaco real estate, how will prices change in the coming years ? It is often better to sell at the end of a upward cycle, this is what a viager sale allows you to do today. Your property may also see its value fall due to the profound change in construction standards, mainly in the energy field. To sell under the viager system today will protect yourself against any future fall in the price of your property.
5/ Protect your spouse and help your family while you are alive.
With the bouquet you can help your children or grandchildren when they really need it and provide your spouse with an additional income for life through the reversion of the life annuities.
If you are concerned by at least 3 of these reasons, do not hesitate to contact Zodiaque Viager to estimate, without obligation, the possibilities that the viager system offers in Monaco in your specific situation.