Monaco Tool
Rent vs Buy Calculator
Compare the long-term cost of renting vs buying in Monaco. Accounts for 4.5% registration tax, notary fees, agency commission and — critically — the residency tax benefits unlocked by ownership.
Monaco free market: 2-4%
Monaco 10yr avg: 3-5%
Deposit kept invested
Verdict
Buy
Over 10 years
Breakeven Year
Year 2
Buying becomes cheaper
Rent Total (10yr)
€2.569.089
Rent + opportunity cost
Buy Net (10yr)
€129.415
Costs minus equity built
Savings (if correct)
€2.439.673
Saved by buying
Upfront Cost to Buy
€2.066.300
Incl. €466.300 fees
Monthly Mortgage
€12.427
Home Value at Year 10
€5.375.666
Equity: €4.041.357
Buying in Monaco strengthens your residency application. Monaco residents pay zero income tax, zero CGT, zero wealth tax — if ownership helps unlock that, the effective tax shield can be worth ~€20.000/year (varies wildly with your income / wealth profile).
10-Year Total Cost Comparison
Rent: cumulative rent + opportunity cost. Buy: upfront + ongoing costs minus equity built.
Year-by-Year Breakdown
Green rows = buying ahead cumulatively.
| Year | Rent (cumu) | + Opp Cost | Buy (cumu) | Home Equity | Buy Net |
|---|---|---|---|---|---|
| Year 1 | €144.000 | €82.652 | €2.271.429 | €1.816.116 | €455.313 |
| Year 2 | €290.880 | €168.610 | €2.477.678 | €2.038.017 | €439.661 |
| Year 3 | €440.698 | €258.006 | €2.685.069 | €2.265.861 | €419.208 |
| Year 4 | €593.512 | €350.979 | €2.893.625 | €2.499.809 | €393.816 |
| Year 5 | €749.382 | €447.670 | €3.103.370 | €2.740.029 | €363.341 |
| Year 6 | €908.369 | €548.229 | €3.314.327 | €2.986.691 | €327.636 |
| Year 7 | €1.070.537 | €652.810 | €3.526.521 | €3.239.972 | €286.549 |
| Year 8 | €1.235.948 | €761.574 | €3.739.977 | €3.500.052 | €239.925 |
| Year 9 | €1.404.666 | €874.689 | €3.954.718 | €3.767.116 | €187.602 |
| Year 10 | €1.576.760 | €992.329 | €4.170.772 | €4.041.357 | €129.415 |
Upfront Costs to Buy
Deposit€1.600.000
Registration tax (4.5%)€180.000
Notary fees (sliding scale)€40.000
Agency commission + 20% VAT (5%)€240.000
Total upfront€2.066.300
How this works
- • Opportunity cost = deposit + fees invested at 4% / year.
- • Buying includes mortgage + ~1.2% charges + ~0.2% insurance, each inflating 2% / year.
- • Home equity = property value (growing at 3%) minus outstanding mortgage.
- • Buy Net = total cash out minus equity built. Lower is better.
- • Breakeven = first year Buy Net drops below Rent + Opportunity Cost.
- • Residency benefit (for residents) is shown separately — it can dominate the numeric comparison for HNW buyers.