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Real Estate & Construction

Monaco

The Principality of Monaco's buoyant economy, political stability, safety, ease of access and central location within Europe, attractive tax measures, excellent education system and pleasant climate mean high demand for property from Ultra High Net Worth Individuals (UHNWI) and a dynamic real estate sector for all involved.

The CMS team has significant expertise in property and construction law. Our property law team advises Monegasque and foreign clients on their complex transactions for the purchase, sale, audit, construction, rental or development of property. We also assist our clients with property disputes, including foreclosure and auction, as well as construction disputes.

Our lawyers have in-depth knowledge of real estate issues and advise clients on matters such as real estate construction and development, purchase and sale of property, commercial property, drafting and negotiating contracts, selling and leasing property, and any related disputes. We also work closely with our corporate law and banking and financial law teams to assist clients with financing and mortgage aspects.

Our specialisations include:

  • Purchase and sale of property
  • Investment and project financing
  • Property development
  • Construction
  • Residential and commercial leases
  • Litigation

We advise property developers, construction companies, banks, real estate companies, landlords, investors and tenants.

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    Construction & Development

    Monaco may be a small country but its real estate sector is constantly growing and new, large-scale public and private projects are regularly breaking ground.

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    Investment & Change of Owner

    Property prices in the Principality have risen constantly since 2010 and have reached record heights, making Monaco one of the most expensive property markets in the world per square metre and a highly sought-after investment target.

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    Management & Occupancy

    The Principality’s combination of economic success, tourism, high-end clientele and attractive tax system encourages high-potential businesses and professionals to set up there, which means property rental yields are high.

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    Urban planning & Environment

    Monaco is small, and its buildings naturally extend skywards or seawards. Urban planning and environmental issues are becoming increasingly crucial, especially given the high priority placed by His Serene Highness on sustainable development and environment protection.

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    18/05/2020
    COV­ID-19 | Sup­port Meas­ures for Mone­g­asque Com­pan­ies
    The Gov­ern­ment of Monaco has taken ex­cep­tion­al meas­ures to sup­port Mone­g­asque com­pan­ies fa­cing eco­nom­ic dif­fi­culties due to the COV­ID-19 pan­dem­ic. Find out more.
    06 April 2020
    CMS Ex­pert Guide to COV­ID-19 Im­pact on Con­struc­tion In­dustry
    As the en­tire eco­nomy has been hit hard by the out­break of the COV­ID-19, also the con­struc­tion in­dustry is cur­rently fa­cing dra­mat­ic and dis­rupt­ive chal­lenges re­gard­ing fin­an­cial pres­sure, la­bour short­ages and sup­ply chain is­sues. In or­der to help our cli­ents, we have pro­duced a fre­quently up­dated, com­par­at­ive guide over the im­pact the COV­ID-19 has on the con­struc­tion sec­tor across vari­ous jur­is­dic­tions.
    05 June 2020
    Ad­vance pay­ment bonds: “step­ping down” pro­vi­sions and more guid­ance on...
    Last month we re­por­ted on a TCC de­cision which con­sidered the re­quire­ments for mak­ing and re­ject­ing a de­mand un­der an ad­vance pay­ment bond sub­ject to the URDG. Very sim­il­ar is­sues have now been con­sidered...
    04/05/2020
    End of lock­down in Monaco: our of­fices will re­open on 11 May
    We are de­lighted to an­nounce the re­open­ing of our of­fices on 11 May. Find out more.
    31 March 2020
    CMS Ex­pert Guide to COV­ID-19 Im­pact on Lease Agree­ments
    COV­ID-19 is dom­in­at­ing the glob­al news and af­fect­ing all areas of busi­ness life. For both land­lords and ten­ants, the ques­tion arises as to the im­pact of the COV­ID-19 pan­dem­ic on their lease re­la­tion­ships. In this guide you will find a use­ful over­view of the im­pact COV­ID-19 has on leases across vari­ous jur­is­dic­tions. Please note that this com­par­at­ive ana­lys­is is based on our cur­rent eval­u­ation and is a sub­ject to fur­ther up­dates and amend­ments.
    07 May 2020
    The use of ex­perts in in­ter­na­tion­al con­struc­tion dis­putes: con­flicts of...
    A re­cent de­cision of the Tech­no­logy and Con­struc­tion Court ap­pears to be the first re­por­ted Eng­lish de­cision to up­hold a fudi­ciary duty of loy­alty in an ex­pert wit­ness ap­point­ment. The find­ing in this...
    06/04/2020
    Cre­ation of a tem­por­ary right to hous­ing in Monaco
    Cre­ation of a tem­por­ary right to hous­ing, what does the law say?
    07 May 2020
    GRESB 2020 – It’s Ques­tion Time!
    GRESB has launched its 2020 Real Es­tate As­sess­ment. GRESB is the lead­ing glob­al En­vir­on­ment­al, So­cial and Gov­ernance (ESG) bench­mark for the real es­tate and in­fra­struc­ture in­dus­tries. It is a vol­un­tary...
    27/03/2020
    Force ma­jeure, a rem­edy for COV­ID-19?
    The concept of force ma­jeure, some­times thought to be ob­sol­ete, is non­ethe­less one of the most ef­fect­ive solu­tions to deal with non-per­form­ance in the con­text of the COV­ID-19 pan­dem­ic.
    27/03/2020
    Real es­tate wealth tax (RE­WT)
    Al­though the real es­tate wealth tax is a French tax, it may be pay­able by any per­son resid­ing in Monaco and own­er in France of one or more prop­er­ties held dir­ectly or through an en­tity.
    25/03/2020
    COV­ID-19 | Sup­port meas­ures for Mone­g­asque com­pan­ies
    The Gov­ern­ment of Monaco has taken ex­cep­tion­al meas­ures to sup­port Mone­g­asque com­pan­ies fa­cing eco­nom­ic dif­fi­culties due to the coronavir­us COV­ID-19 pan­dem­ic. Find out more.
    14/10/2019
    CMS Pasquier Ciulla Mar­quet & Pas­tor moves to the “Villa des Cigognes”
    CMS Monaco | New ad­dress from 28 Oc­to­ber 2019