Chambre Immobilière Monégasque
Recognised by the princely state since 1945, the Chambre Immobilière Monégasque [Monaco Real Estate Board] is the official representative of property professionals for the public authorities and the Fédération des Employeurs de Monaco [Monaco Employers’ Federation]. The SMIR Group has been a member of the Chambre Immobilière Monégasque since it was first founded.
All members are obliged to be covered by a financial guarantee issued by a bank, and must also be insured against professional civil liability.
A disciplinary committee penalises all 'misconduct' displayed by real estate agencies with respect to clients or other members, thus maintaining professionalism among all members.
The Chambre Immobilière Monégasque exercises its powers in all areas related to the property market (sales, rentals, management, association, promotion, expertise, etc.).
All members of the Chambre Immobilière Monégasque must meet selective admission criteria and agree to comply with internal regulations:
- A precise, set scale of fees recognised by the authorities and applied by all members,
- Meticulous professionalism,
- High quality advice,
- Expertise in their fields
FEE SCALE
|
SERVICES |
SELLER/LESSOR OR BORROWER |
BUYER/LESSEE |
|
Sale of property completed or cancelled by the seller or buyer |
5% |
3% |
|
Sale of business/industrial assets |
6% |
3% |
|
Exercising of pre-emption right |
6% |
|
|
Exchange of property or assets |
5% |
5% |
|
Business/industrial asset management (depending on the management period: 3 years maximum) |
5% |
5% |
|
Mortgage, collateral |
7% |
|
|
Unfurnished or furnished rental: - unfurnished for one year - furnished for the duration of the - commercial and industrial lease for one year |
10% |
10% |
|
Management fees |
|
|
|
Fees for general administration |
|
10% |
|
Furnished rental properties |
10% |
|
|
Unfurnished rental properties |
8% |
|
