Understanding Monaco’s Rental Market
Is it still possible to find a property to rent in the Principality? Yes, but Monaco’s rental market is under constant pressure. Caught between a shortage of available properties, rising rents, and strong international demand, the sector is struggling to keep pace. The imbalance shows no sign of easing. Today, patience is essential given market realities. Finding a rental in Monaco in 2024 is a real challenge marked by scarcity, increasing rents, and very short timeframes.
Rents in Monaco in 2024: steady increases
Counting several zeros to rent a property in Monaco is no longer exceptional. According to feedback from agents, here are the average prices observed depending on property type:
- studio: from €2,000/month;
- 1-bedroom apartment: from €3,500/month;
- 2-bedroom apartment: from €10,000/month.
Neighborhoods have a major impact on the final monthly rent. Expect €190 to €229/m² in the Carré d’Or, €115/m² in Larvotto, compared with €77/m² in Moneghetti.
For comparison, the average rental price of a studio with a doorman in New York is $4,103/month, according to the Manhattan Rental Market Report.
Monaco rental market: most sought-after property types
They say waiting increases desire—and future tenants know this feeling well. New arrivals may wait months before finally moving into a property. Notably, this shortage affects all budgets and all property sizes. Family apartments have become rare and extremely sought-after, particularly high-end furnished rentals with terraces or parking spaces. The same applies to seafront rental properties, which are experiencing maximum pressure.
Who rents in Monaco? Tenant profiles
Based on observations in the field, newcomers to the Principality often favor a transition period. Many choose to rent for one or two years before taking the step toward home ownership. Common profiles shaping the rental landscape include entrepreneurs, residents in the process of settling in, and a predominantly international clientele.
Leases: speed and duration of rentals in Monaco
Re-listed properties do not stay on the market for long. Much like in France, properties are rented very quickly: as soon as a listing is published, applications start pouring in. Some real estate agents report turnaround times of less than 15 days for well-maintained residences. Rental contracts follow one another rapidly. Leases are generally signed for 1 or 3 years, renewable, depending on the type of property.
MyCrown Estates’ analysis
Our agents confirm Monaco’s strong appeal to international clients. Rental demand is on the rise. Market tension is such that some prospective tenants begin the process during their very first visit. Despite the urgency to secure a property, future residents expect flawless operational efficiency and deep market knowledge from their real estate agent. At MyCrown Estates, our professionals are multilingual, proactive, and well-informed. They represent the best chance of finding your new address—even a temporary one.
Accessing opportunities requires anticipation and precision. Are you looking to find a property to rent in Monaco? MyCrown Estates opens the doors to a discreet, demanding, and opportunity-rich market. Even for an event-based or temporary rental, structured support remains essential.