Moving to Monaco can be challenging, and figuring out how much it will cost to live there can be even more difficult. This post is meant to give you a good idea of the cost of living in Monaco from rent prices, restaurant costs, clothes shopping and more.
Is Monaco expensive to live in?
Monaco is one of the most expensive countries in the world to live in, with a cost of living that is almost double that of other European countries. Despite this, Monaco is a popular destination for wealthy retirees and expats, drawn to its Mediterranean climate, tax-free status and luxurious lifestyle. If you’re thinking of moving to Monaco, be prepared for high prices on everything from rent to groceries.
Is Monaco Safe?
Monaco is safe, but you need to take care. The country has a low crime rate and is usually quiet at night. However, it’s always best to be careful and aware of your surroundings.
Monaco has its own security force called “The Sûreté Publique” who play an important role in ensuring that visitors are safe while they are in Monaco. They have an extensive policing network with officers stationed throughout the country at checkpoints along roads leading into Monaco and around major tourist attractions such as hotels and casinos.
Despite being surrounded by France, Monaco does not follow French laws when it comes to drug use or prostitution. It does however have strict rules about illegal drugs, which can result in fines or even prison time if you are caught distributing them.
Cost Of A Meal & Restaurants Food Prices In Monaco
In Monaco, the cost of a meal can vary depending on where you eat. A casual meal at a cafe or fast food restaurant will cost around 15-20 euros. A more formal meal at a sit-down restaurant will start at around 35 euros per person. For a truly luxurious dining experience, you can expect to pay upwards of 100 euros per person. Alcoholic beverages are also relatively expensive in Monaco, with a glass of wine starting at around 10 euros.
| Restaurants | Price in Euros (€) |
|---|---|
| Meal, Inexpensive Restaurant | 30.00€ |
| Meal for 2 People, Mid-range Restaurant, Three-course | 125.00€ |
| McMeal at McDonalds (or Equivalent Combo Meal) | 10.00€ |
| Domestic Beer (0.5 liter draught) | 7.19€ |
| Imported Beer (0.33 liter bottle) | 8.70€ |
| Cappuccino (regular) | 4.17€ |
| Coke/Pepsi (0.33 liter bottle) | 5.42€ |
| Water (0.33 liter bottle) | 6.09€ |
Cost Of Transportation and Travels In Monaco
Transportation and travels in Monaco are expensive. The public transport system is very good but it’s still more expensive than other European cities.
The most affordable option is to use public transport, which is fast and efficient. However, if you plan to use taxis a lot or need to rent a car, the costs will add up quickly.
Public Transport
The bus system in Monaco is quite good and extensive! You can take the bus from where you are staying to any destination in the principality for €1 per trip (€2 for a return ticket). If you want to go to Nice or Cannes, you can take the train from Monte Carlo station for about €4 per trip (€6 for a return ticket). However, if you have time and don’t mind walking up some hills, walking around Monaco is also an excellent way to explore this beautiful city!
Taxi
If you need to get around town quickly or when public transport isn’t available, taxis are a great alternative. Taxis are not always easy to find so make sure you ask at your hotel reception or call ahead of time before heading out so that someone can order one for you. The average cost of a taxi ride within Monaco will be about €10-15.
| Transportation | Price in Euros (€) |
|---|---|
| One-way Ticket (Local Transport) | 2.00€ |
| Monthly Pass (Regular Price) | 50.00€ |
| Taxi Start (Normal Tariff) | 3.00€ |
| Taxi 1km (Normal Tariff) | 1.80€ |
| Taxi 1hour Waiting (Normal Tariff) | 60.00€ |
| Gasoline (1 liter) | 2.06€ |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 25,000.00€ |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 25,333.33€ |
Cost Of Groceries & Consumer Goods In Monaco
The cost of groceries and consumer goods in Monaco is higher than average but still reasonable compared with other parts of Europe or North America.
The following information is based on data collected from Numbeo.com and should be used only as a guide.
| Groceries | Price in Euros (€) |
|---|---|
| Milk (regular), (1 liter) | 2.25€ |
| Loaf of Fresh White Bread (500g) | 2.75€ |
| Rice (white), (1kg) | 2.88€ |
| Eggs (regular) (12) | 2.98€ |
| Local Cheese (1kg) | 19.50€ |
| Chicken Fillets (1kg) | 11.25€ |
| Beef Round (1kg) (or Equivalent Back Leg Red Meat) | 18.33€ |
| Apples (1kg) | 2.50€ |
| Banana (1kg) | 4.67€ |
| Oranges (1kg) | 2.62€ |
| Tomato (1kg) | 2.62€ |
| Potato (1kg) | 2.62€ |
| Onion (1kg) | 2.67€ |
| Lettuce (1 head) | 2.00€ |
| Water (1.5 liter bottle) | 2.71€ |
| Bottle of Wine (Mid-Range) | 12.00€ |
| Domestic Beer (0.5 liter bottle) | 2.00€ |
| Imported Beer (0.33 liter bottle) | 3.25€ |
| Cigarettes 20 Pack (Marlboro) | 10.00€ |
Cost Of Basic Utilities In Monaco
If you’re considering a move to Monaco, one of the things you’ll want to factor in is the cost of utilities. Here’s a rundown of the average costs for basic utilities in Monaco:
| Utilities (Monthly) | Price in Euros (€) |
|---|---|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment | 193.59€ |
| 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) | 0.03€ |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 54.75 |
Cost of Entertainment in Monaco
If you thought the cost of living in Monaco was expensive, just wait until you see the price tags on the city’s entertainment options! From high-end nightclubs to expensive restaurants, there is no shortage of ways to spend your money in Monaco.
The cost of entertainment in Monaco is quite high. A trip to the casino can cost you up to a thousand dollars and watching an event at one of the many festivals can be well over that.
However, there are still plenty of ways to have fun without spending too much money. You can go for a walk along the beach or visit one of the local parks where you will find children playing with their parents or grandparents. There are also plenty of museums and art galleries that are free to enter, which makes them a great way to spend an afternoon with the kids.
If you want to go out in Monaco, then there are plenty of options available but they will all cost you money. The casino is probably one of the most expensive places in Europe if not the world as it charges hundreds if not thousands of dollars per hour depending on what type of table you want to play at. There are also restaurants and bars that charge very high prices for food and drink but there are some cheaper alternatives if you know where to look for them.
| Sports And Leisure | Price in Euros (€) |
|---|---|
| Fitness Club, Monthly Fee for 1 Adult | 158.33€ |
| Tennis Court Rent (1 Hour on Weekend) | 20.00€ |
| Cinema, International Release, 1 Seat | 10.00€ |
Cost Of Childcare and Education In Monaco
As a parent, one of your biggest concerns is ensuring that your children have access to quality education and childcare. In Moanco, you can rest assured that both of these needs will be well-provided for. Here, we take a look at the cost of childcare and education in Monaco, so that you can budget accordingly for your family.
The average cost of childcare in Monaco is $1,849 per month. This price can vary depending on the type of facility, whether or not a nanny is hired and the number of children in care.
The cost of private school tuition in Monaco ranges from $2,067 to $2,942 per year. The cost of public school varies by region, but you can expect to pay around $744 per year for elementary school and $1,998 per year for high school.
Overall, the cost of living in Monaco is very high, especially when it comes to childcare and education. With careful planning and budgeting, you can ensure that your children have everything they need to thrive in this beautiful country.
Cost of Clothing in Monaco
Clothing in Monaco is expensive because of the taxes and tariffs placed on imported goods, but many people still shop there because of the quality of the items. There are a few ways to save money on clothing in Monaco.
The first way is to buy designer clothing at an outlet store or in a discount store. This can be especially helpful if you are looking for designer jeans because they are often available at a discount price. Designer jeans are one of the most popular items that people buy from Monaco because they are made from high-quality materials and have a lot of style.
Another way to save money on clothing in Monaco is by shopping online or by catalog. There are several websites that offer great deals on clothes, including eBay and Amazon. You can also find great deals by going through catalogs that come in the mail every month. You can usually find coupons or special offers included with these catalogs so that you can get free shipping or other discounts when ordering online or through the mail.
Finally, if you know someone who lives in Monaco then you can ask them if they would like to buy something from your country and send it over to them as long as they pay for shipping costs and customs fees first.
Cost Of Personal and Health care In Austria
The cost of personal and health care in Monaco is high. Medical insurance is required for all foreign residents, but it is also available to non-residents. The cost of medical insurance is high, but a resident can get a better rate than a non-resident.
The average price of a visit to the doctor or hospital in Monaco is around $100. The average cost of one day’s stay at an intensive care unit (ICU) or coronary care unit (CCU) is $1,600-$8,000, while the average cost of one day’s stay at any other ward is $1,300-$3,400.
The average cost associated with dental visits in Monaco is about $2,500 for an extraction and about $4-6 for filling cavities.
Cost Of Housing and Accommodation In Monaco
Monaco is known as the playground of the rich and famous. Visitors to this tiny principality can expect to find high-end stores, luxury yachts, and beautiful villas. It’s also home to some of the world’s most expensive real estate.
The cost of housing in Monaco is among the highest in Europe. The average price for an apartment in Monaco is $3,000 per square meter (11 square feet). A typical apartment will measure about 100 square meters (1,076 square feet), so that means you could expect to pay as much as $300,000 for an apartment in Monaco.
If you’re looking for more space or a larger house, it won’t come cheap. The average price for a house in Monaco is between $4 million and $10 million.
To put those prices into perspective: If you make less than $2,500 per month and only want a small one-bedroom apartment, then you would have to spend over half your salary on rent alone!
Popular Tourist Attractions in Monaco
1. Monte Carlo Casino
The casino is the most famous landmark in Monaco and one of its main tourist attractions. The casino was built in 1863 on the site of a former fort and is one of the most famous casinos in the world. It is one of only two casinos in France, along with Le Touquet, that has been given a royal licence by the Prince of Monaco. The casino is operated by the Société des Bains de Mer et du Cercle des Etrangers à Monaco (SBM), which also runs other gambling establishments in Monte Carlo such as the Sporting Club and the Monte Carlo Bay Casino & Spa.
2. Oceanographic Museum
The Oceanographic Museum is a museum located in Monaco-Ville, dedicated to oceanography and marine science. It was founded by Prince Albert I in 1910 under the name Aquarium du Rocher (“Rock Aquarium”). It has been open to visitors since 1913, except during World War I and World War II when it served as a hospital for wounded soldiers; during these times it was known as Hospice de la Marine (“Navy Hospital”), or Hôpital de la Marine (“Navy Hospital”) for short.
3. Musée National de Monaco (MNM)
Musée National de Monaco (MNM)
The Musée National de Monaco is a museum located in the Palais Princier of Monaco. The museum was established by Prince Louis II in 1922 and opened on 15 October 1924. It is one of the largest art galleries in the world, with a collection of more than 10,000 pieces that represent various schools and periods, from antiquity to the present day.
Conclusion
If you’re considering a move to Monaco, be prepared for an expensive cost of living. While the city has a lot to offer in terms of luxury and lifestyle, it comes at a price. From housing and transportation costs to the price of basic necessities, living in Monaco can be quite pricey. However, if you’re able to budget and manage your finances well, you can still enjoy all that the city has to offer.