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Real Estate

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.

Our Real Estate & Construction brochure

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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
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
Management & Occupancy
The Principality’s combination of economic success, tourism, high-end clientele and attractive tax system encourages high-potential businesses a
Urban planning & Environment
Monaco is small, and its buildings naturally extend skywards or seawards. Urban planning and environmental issues are becoming increasingly crucial, e

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11/07/2024
Regulation of property dealers: A reform that kills three birds with one...
Following on from its previous tax reform initiated by law 1.548 of 6 July 2023 (see our article of 21 September 2023 entitled "Tax reform on real estate transfers when the legislator kills two birds...
12/04/2024
Best practice in the Real Estate sector (AML)
In order to respond to the recommendations of the Moneyval Mutual Evaluation Report (5th cycle) published in December 2022, a legislative arsenal relating to the fight against money laundering, financing...
08/04/2024
Real estate in France & Tax obligations
The direct or indirect ownership of real estate located in France by non-French residents - whether individuals, French or foreign legal entities, trusts or similar institutions - as well as the management...
05/04/2024
Height restrictions to build in Monaco
When it comes to easements and construction prohibitions, it is sometimes difficult to distinguish between truth and false­hood. Monaco Court of Appeal has provided some valuable clarification on this...
01/03/2024
Pre-conditions to arbitration and the FIDIC 2nd Edition
Amendments to the FIDIC 2nd Edition contracts published in November 2022 have narrowed the definition of “Dispute” to more closely align it with the pre-conditions to DAAB and arbitration proceedings...
23/02/2024
The CBAM – what is it and how will it affect the market?
Regulation (EU) 2023/956 establishing a carbon border adjustment mechanism (CBAM) entered into force on 17 May 2023. The implementation of the CBAM has been divided into a transitional period (from 1...
15/02/2024
Retail lease agreements in Monaco - Overview
Applicable law Leases for premises in which a commercial, industrial or a craft industry is carried out are regulated by (i) the mandatory provisions of the Law n°490 of 24th November 1948 (applicable...
06/02/2024
Gift of shares of a Monegasque SCI owning a real estate in France: risk...
The Monegasque civil company (SCI) is an excellent asset and wealth management tool, commonly used to facilitate the management and transfer of a real estate property in France. In this respect, the gift...
19/01/2024
CBAM: Just over a week to comply
As the deadline for the first Carbon Border Adjustment Mechanism (CBAM) report approaches on January 31st, it is crucial for undertakings engaged in importing relevant goods into the European Union to...
15/12/2023
Leasing Business Assets under Leasing Management
The conclusion of a business leas­ing-man­age­ment agreement ("gérance libre" in the Principality, under the terms of law n°546 of June 26, 1951) offers many benefits to the lessor. He can entrust the...
22/11/2023
Unlawful occupation & acquisition through adverse possession
In the Principality of Monaco, as elsewhere, ownership of properties with terraces or gardens is particularly valued. Access to terraces and gardens, whether they are part of a private or a common area...
02/11/2023
Undivided assets - how to avoid deadlock?
Joint ownership of property is common in case of joint inheritance and can be a source of numerous problems for the co-di­visors.   As the Monegasque Civil Code doesn’t provide any clear solutions and...