Monaco Tool
Rental ROI Calculator
Model Monaco rental yield, net cash flow and total return. Monaco residents pay zero income tax on rental income — non-residents pay in their home country. Free-market rents with no caps.
For charges calculation
Residents 20%+ / non-res 40%+
Typical 40-80, luxury 150+
Residents only, ~€500-2000
Verdict
Weak
Monaco yields run low
Gross Yield
4.32%
Net Yield
2.54%
On property value
Cash-on-Cash
-2.98%
Return on deposit
Annual Cash Flow
-€59.523
Monthly Cash Flow
-€4.960
Total ROI
2.97%
Cash flow + principal paydown
Monthly Mortgage
€15.534
Annual Income & Cost Breakdown
Income
Gross rent (12 months)€216.000
Less vacancy (5%)-€10.800
Effective rental income€205.200
Costs
Charges de copropriété€6.000
Insurance€10.000
Management fees€12.312
Maintenance reserve€50.000
Mortgage payments€186.411
Net annual cash flow-€59.523
Monaco residents pay zero income tax on rental income and zero capital gains tax. Just the (modest) taxe d'habitation and copropriété charges.
Long-Term Projection
Equity build-up and cash flow at 1, 5, 10 and 20 years.
| Year | Property Value | Annual Rent | Cash Flow | Cumulative Equity |
|---|---|---|---|---|
| Year 1 | €5.150.000 | €220.320 | -€59.523 | €2.286.748 |
| Year 5 | €5.796.370 | €238.481 | -€64.430 | €3.480.109 |
| Year 10 | €6.719.582 | €263.303 | -€71.135 | €5.087.058 |
| Year 20 | €9.030.556 | €320.965 | -€86.714 | €8.765.509 |
Monaco Rental Market Notes
- • Rental market is completely free — no rent caps, no Section 24 equivalent, no tenant-friendly rent controls.
- • Gross yields are structurally low (2-3.5%) because of high purchase prices — most investors buy for capital preservation, not income.
- • Charges de copropriété for high-end buildings can be €100-150/sqm/year (Tour Odéon territory), dragging net yields further.
- • Monaco residents: zero income tax on rental, zero CGT on sale. That's where the real investment case sits.