Are you looking for a property in the Monaco area, either for rent or for sale? To carry out your project, you will need to find a good luxury real estate agency in Monaco, which will provide you with a personalised service. Here are a few tips to help your Monaco real estate journey go smoothly.
- 1 The real estate sector
- 2 Luxury real estate
- 3 Discover the city of Monaco
- 4 Luxury real estate in Monaco: find a real estate agency on the Internet
- 5 Luxury real estate in Monaco: look at customer reviews
- 6 Monaco luxury real estate: beware of e-reputation
- 7 Monaco luxury real estate : consult your network
- 8 Monaco luxury real estate: word of mouth
- 9 Monaco luxury real estate: the first appointment
- 10 Luxury real estate in Monaco: trust your instinct
The real estate sector
In recent years, prices in the property sector have been rising steadily, mainly in the major cities but also in more remote locations. The Principality of Monaco is obviously no exception to the rule. Apart from the relatively high prices, there are other concerns for potential buyers, notably a very tight situation with few properties for sale and increased competition between buyers.
Even to find a simple rental, responsiveness is required. Without a qualified real estate agency by their side, it can take many years for a buyer to find a property, especially when their search is concentrated in a high-demand area with a small surface area. Finding your dream property in the right place has always been a challenge, but nowadays it is a real obstacle course.
Luxury real estate
Luxury is a special sector of the real estate industry. Despite the crisis, it has been doing well in recent years, and the search for a so-called “luxury” property is therefore just as complicated, if not more so, than the search for a classic property. Prices are skyrocketing due to the scarcity of this type of property and the fierce competition between the many potential buyers.
If you are looking for this type of property, you need to be reactive and position yourself as quickly as possible if you fall in love with it. Prices, which were already high a few years ago, have risen again for this category of property, and the trend is still upwards… However, there is sometimes room for negotiation… provided that you have a solid financing file!
Discover the city of Monaco
Would you like to move to Monaco, either permanently or during your holidays? Here is a (non-exhaustive) list of everything you need to know about the city and how to go about a property search in this area.
The city and its points of interest
Monaco is not just a city, it’s a principality with a change of scenery and plenty of places to visit and landscapes to admire. Many monuments are worth seeing, such as the princely palace, the casino and the Monte Carlo opera house.
Thanks to its favourable climate throughout the year, you can also enjoy the many lush parks, and in particular the splendid exotic garden, whose countless cacti and other palm trees give the impression of being in South America. For motor sport enthusiasts, the Formula 1 Grand Prix, which takes place every year on the streets of the Principality, is an event not to be missed.
You will also have the opportunity to enjoy the unique circuit, which winds its way through the streets of the city all year round. And of course, sea lovers will be delighted by the city’s marinas, where sumptuous yachts are moored.
There is never a dull moment in Monaco, as the city has a wide range of activities, both indoor and outdoor, day and night, to suit all types of visitors… and of course its inhabitants!
Monaco luxury real estate: our favourite districts
Monaco is divided into four districts: Monaco City, known as the “Rock”, Monte Carlo, La Condamine and Fontvieille. Monaco is a great place to live, but some areas are better suited to certain people than others. History buffs will appreciate the vintage charm of the old town, built on the famous Rock, while La Condamine benefits from its proximity to the Port Hercule.
If you’re looking for more peace and quiet, Monte Carlo is the place for you, as it is largely made up of luxury residences and hotels. Finally, you can opt for Fontvieille, a more recent area where construction began in 1971, reclaiming the maritime space. Whatever your family situation, your hobbies, and your daily needs, there is necessarily a district of Monaco that will correspond to them. In each of these areas, so-called “luxury” properties are regularly offered for sale.
Luxury real estate in Monaco: find a real estate agency on the Internet
From the very beginning of your Monaco property project, you need to find a quality real estate agency to support you every step of the way. Start your search on the Internet: nowadays, all agencies have a website. You will find all the information you need to make your choice: location of the agency, contact details of the agents, rates, properties on offer, etc.
An agency located near your current home, if you are already living in Monaco at least temporarily, is a plus. But distances in Monaco are quite small, and as many administrative points are now settled via the web, it is not an obligation either. Above all, check that the catalogue of properties is extensive, that the rates are reasonable, and what services are offered (during visits, drafting of deeds, preparation of your file, etc.).
Not all agencies offer the same things, and prices should be compared for equivalent services.
Luxury real estate in Monaco: look at customer reviews
In general, estate agency websites have a section containing the opinions of former clients, or you can find the opinions in question on a third-party website. Beware that fake reviews are rife on the web, and a few negative reviews should not worry you either, but consider them from an overall perspective.
Extremely glowing reviews can also be a red flag. Avoid agencies whose average rating is definitely too low, and read each review carefully to form your own opinion, especially on points that are important to you, such as punctuality, responsiveness, or the range of properties on offer. Before the Internet era, you had to hope to find a serious and competent agency, but with the Web, you can considerably increase your chances of choosing the perfect agency.
Monaco luxury real estate: beware of e-reputation
Thanks to the Internet, you can find out the e-reputation of the agency you are interested in. You will find not only reviews from former clients, but also opinions from third-party organisations and numerous testimonials attesting to the quality of the services offered.
Find out as much as you can about the agency concerned using your search engine. An agency that does its job properly should not be tainted by negative articles on the web. Do your research carefully to choose the best agency in the sector… and remember to always check your sources, which can sometimes be misleading!
Monaco luxury real estate : consult your network
Do you know people connected with the luxury real estate sector, even if they don’t necessarily work in the Monaco area? Don’t hesitate to call on these contacts, who can recommend colleagues to you.
No one is in a better position to recommend a professional than a colleague who knows the area well. It is therefore time to call on your network of acquaintances to find the rare pearl as quickly as possible. Nowadays, our networks of acquaintances are very extensive and generally allow us to contact the right person in any situation.
Monaco luxury real estate: word of mouth
Nowadays, the Internet allows you to do an incredible amount of things… but word of mouth remains a sure thing! Don’t hesitate to use this good old method which has proved its worth: talk about your project to your colleagues, your friends, your family members, and even the shopkeepers in your neighbourhood, and in general, to all the people you come into contact with every day.
If these people cannot help you, they may know someone in their own family, friends or professional circle who can recommend people to help you with your project. Word of mouth is a method that always ends up being successful, so you should use it as much as possible.
Monaco luxury real estate: the first appointment
Have you decided on a real estate agency? Then you need to make an appointment with one of the agents who work there, and think about many things during this first contact. Explain your project in great detail and make sure the agent takes notes. If he or she is a good real estate agent, he or she should be able to show you some properties immediately, or explain to you what might be problematic in your list of criteria, and which might require you to make concessions.
Ask questions about Monaco: a good agent knows the area where he or she works like the back of his or her hand, and should be able to recommend neighbourhoods according to your needs. Of course, check the agency’s fees during this first contact, to avoid any unpleasant financial surprises.
Luxury real estate in Monaco: trust your instinct
The time has come to sign with an agency, after a lot of online research and a few face-to-face meetings? If you still have doubts, trust your instinct: having a good feeling with the person you will be seeing very often in the coming months is absolutely essential!
If you have the same level of service, it is better to choose the agent who puts you at ease from the outset, and who will not only be totally professional throughout your project, but also courteous and pleasant. This is much more important than you might think, for a project that will include, we hope, many happy moments, but probably also some periods of doubt and difficulty, during which it will be important for you to be supported.
In conclusion, whether you are looking for a house or a flat, and whether you wish to rent or buy, combining the advantages of the Internet and a physical network of acquaintances should enable you to find the perfect estate agency, which will accompany you step by step in your luxury real estate project in the Principality of Monaco !