Real estate · Monaco

Real estate in Monaco: homes and areas

A city-state of about two square kilometres on the Riviera, where every home is in the city, most are apartments and space is the scarcest thing of all.

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Living in Monaco

Monaco is a sovereign city-state on the French Riviera, bordered by France on three sides and by the Mediterranean on the fourth, with the Italian border a short drive east. With about two square kilometres, the country is the city: its districts run from the old town on the Rock to the casino quarter of Monte-Carlo and the beaches of Larvotto. Banking, tourism, hotels and events drive the economy, and Monaco is a major employer for the whole area: businesses and the administration employ more than 65,000 people, nearly nine in ten of whom live outside the principality.

Residents come from 144 countries. Monegasque nationals are the largest group, at about a quarter of the population, followed by French and Italian citizens, then British, Swiss, Russian, Belgian and German residents. The population is relatively old. French is the official language. Residents of Monaco pay no personal income tax, with the exception of French nationals, who fall under a 1963 treaty with France; this is one reason so many people move here.

The principality is small enough to cross on foot, although steep, and the CAM bus network covers every district. The underground Monaco-Monte-Carlo station has regional trains along the coast to Nice and to Ventimiglia in Italy. The nearest airport is Nice Côte d’Azur, in France, reached by road, by train or by a seven-minute helicopter shuttle.

Almost everyone lives in an apartment. With so little land, Monaco has grown upwards and onto land reclaimed from the sea: Fontvieille in the 1970s, and Mareterra, a new waterfront district next to Larvotto, opened in December 2024. About one home in five is owned by the state and reserved for Monegasque nationals; everyone else rents or buys on the private market. Just across the border, the French towns of Beausoleil, Cap-d’Ail and Roquebrune-Cap-Martin merge seamlessly with Monaco, so some homes listed around Monaco are in fact in France.

Population
38,857 (2025)

Source: IMSEE (Monaco Statistics), 2025 Population Census (register-based), resident population at 31 December 2025, published May 2026

Neighbourhoods

Monte-Carlo
The most populous district, around the Casino and its luxury hotels and shops. Almost all homes here are privately owned apartments; very few belong to the state.
Larvotto and Mareterra
The beach district in the east of the principality, with apartment towers along the seafront. Mareterra, a new neighbourhood on reclaimed land with apartments, villas and a promenade, became part of Larvotto in 2024.
La Condamine
The district around Port Hercule, between the Rock and Monte-Carlo, with shops and a mix of older buildings and newer apartment blocks, both private and state-owned.
Monaco-Ville
The old town on the Rock, with the Prince’s Palace, the cathedral and narrow streets signed in French and Monegasque. The least populated district, with few homes.
Fontvieille
A district built on land reclaimed from the sea in the 1970s, with a second harbour, the Stade Louis II, businesses and the highest share of state-owned homes in Monaco.
La Rousse, Jardin Exotique and Les Moneghetti
Residential districts on the higher ground: La Rousse in the north-east by the French border, Jardin Exotique and Les Moneghetti in the west. Mostly apartment buildings, with many state-owned homes in Jardin Exotique.

House prices in Monaco

Resales by district in 2025
Resales 2024
365
Resales 2025
429
Change in number
+17.5%
Total value of resales 2025
€3,249,700,000
Change in value
+49.1%

Period: 2025 From the official regional figures for Monaco (all districts); the country page has the full table.

Source: IMSEE, Observatoire de l'immobilier 2025 (February 2026)

House prices in Monaco →

Practical information

  • Airport: Nice Côte d’Azur Airport in France is the nearest. Monacair runs a regular helicopter shuttle from the Monaco heliport that takes about seven minutes; the airport can also be reached by road or by train via Nice.
  • Getting around: the CAM runs bus lines across all districts, and the Monaco-Monte-Carlo station has SNCF regional trains to Nice, Menton and Ventimiglia.
  • Residence: foreigners aged 16 or over who want to live in Monaco need a residence permit (carte de séjour). You must show a home in Monaco (a deed or a registered lease), sufficient financial resources, usually with a reference from a Monaco bank, and a clean criminal record.
  • Schools: the state schools teach in French. The International School of Monaco offers a bilingual English and French education.
  • Healthcare: the Centre Hospitalier Princesse Grace is the principality’s public hospital.

Frequently asked questions

Can foreigners live in Monaco?

Yes, with a residence permit. You need a home in Monaco, bought or rented, proof that you have sufficient financial resources, and a clean criminal record. The application goes to the police department’s residency section.

Do residents of Monaco pay income tax?

Residents of Monaco pay no personal income tax, except French nationals, who remain taxable in France under a 1963 treaty. The exemption applies only to people who genuinely live in Monaco.

Who can live in state-owned housing?

State-owned (domanial) homes are allocated only to Monegasque nationals, using a points system. Foreign residents rent or buy on the private market, which makes up most of the housing stock.

How many people live in Monaco?

Monaco had 38,857 residents at 31 December 2025, according to the 2025 census of Monaco Statistics (IMSEE).

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Sources