Thinking of moving to Monaco? This dream is certainly not accessible for everyone, but if you can afford it, if you enjoy the Mediterranean climate, the quality of life in Monaco and the soft tax system, why not take the plunge ? A great solution is to use a real estate hunter. It will not cost you more and he will help you to find the apartment that fits your needs and requirements, at market price!
Successful real estate acquisition in Monaco is not an easy task. The Monegasque market is a small market with only 400 to 550 transactions per year in recent years. It is the most expensive market in the world, with a price per square meter above 40 000 €! Despite its small size (2 square kilometres), Monaco offers an impressive diversity of neighbourhoods that will take time to discover, understand and evaluate …
Obviously the Monegasque real estate agents are here to help you. They are competent and numerous, with more than 100 agencies in the Principality. But going around the agencies, visiting properties that do not always match your search, can be long and painful and you could lose a lot of time …
A very effective alternative in Monaco is to approach a real estate hunter, a “flat hunter” as there are many in the USA.
The real estate hunter will not try to guide you exclusively on the real estate he is marketing. It will rather seek to understand your expectations, your needs, your budget, with a high level of detail. Do you prefer the calm or the sight, the proximity of a school or the ease of circulation to leave the city? The real estate hunter will then analyse all products available on the market, whether they are marketed directly or by real estate agencies. In Monaco, real estate agencies, members of the Monegasque Real Estate Chamber, have a common tool for viewing all properties for sale in the Principality. The real estate hunter, if he is a member of the Real Estate Chamber, has access to all the goods available on the market. He will select the apartments that correspond to your needs and review for each of them the adequacy to your needs. He will visit interesting apartments with you, in order to bring out the most attractive offers, those that best fit your search and are offered at market prices. Your real estate hunter will assist you in the final choice and lead with you the ultimate negotiation, bringing you his expertise of the Monegasque real estate market. He can also help you with any subject related to your installation in Monaco.
What is surprising in Monaco is that the use of a real estate hunter should, ultimately, allow you to save money on your property acquisition. In terms of fees, you will not pay more than if you did the research yourself in relation to the various real estate agencies. Indeed in Monaco, the fees for real estate transactions, as defined by the Real Estate Chamber, are paid by both the seller and the purchaser. When a real estate agency represents both the buyer and the seller, it receives fees from both sides. If a real estate hunter represents you, he receives the buyer’s fees, while the agency that sells the property receives the seller’s fees. So in both cases, your acquisition will lead you to pay the fees due by the buyer, either to the agency that sells the property or to your property hunter. Concerning the purchase price, the help of a real estate expert who advises you should allow you to optimize the purchase price and ensure you do not buy above the market price.
The use of a real estate hunter appears to be an excellent solution to guarantee a successful relocation in Monaco, having by your side a professional who knows the Principality well, able to listen to you and advise you effectively.
Do not hesitate to contact us and to share your projects!