Key facts:
- Client: German national
- Property type: Residence in Monaco
- Property value: €2,500,000
- Loan amount: €1,500,000
- LTV: 60%
- Product: 5 years, variable
The city-state Monaco also has an unparalleled reputation for being a premier home for high-net-worth individuals and a hugely advantageous taxation regime. The glamour of the location, scenery, superb infrastructure and the other benefits of living in the Principality mean Monaco is never out of fashion.
A recent case involves arranging a high value mortgage for a German national looking to acquire a residential property in Monaco. The real estate market is exceptionally competitive given the popularity of the Principality - there are often more buyers than there are sellers. As such, liquidity and being able to move forward quickly with a transaction are keys to success.
What is more, Monaco has a unique real estate and financing system - those who are not accustomed to the way things work here can be taken by surprise. Given real estate prices are so high, the traditional methods for financing property purchases in France and the surrounding areas are often rewritten in Monaco.
Here at Enness, however, we have done a plethora of successful deals in Monaco - cases of foreigners purchasing prime property in Monaco are common occurrences in which we excel. We have a track record of arranging Monaco mortgages for both EU and British nationals, as well as Russian and Iranian nationals to name a few. Due to our extensive network, we have access to a wide range of commercial and private banking groups familiar with financing property in the Principality.
When it comes to negotiating any kind of financing in Monaco, there is no substitute for having feet on the ground. Therefore, Enness has a multilingual and well-connected team that operates from the Principality. Your broker will be able to utilise your worldwide assets that you can use as collateral, use your cash flow to minimise interest rates and deliver the best deal to you in an extremely time-efficient manner.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
