The Cost Of Living In Monaco In 2023

Introduction

Monaco, a sovereign city-state on the French Riviera, is known for its luxurious lifestyle and high cost of living. In this article, we will explore the cost of living in Monaco in 2023, including housing, food, transportation, and entertainment.

Housing Costs

One of the biggest expenses in Monaco is housing. The average monthly rent for a one-bedroom apartment in Monaco is around €3,500. If you’re looking for a larger apartment or a house, the prices can go up to €10,000 or more per month. If you’re planning to buy a property in Monaco, the average price per square meter is around €40,000. This means that a 100 square meter apartment would cost around €4 million.

Food and Drink

Monaco has a wide range of restaurants and cafes, catering to all tastes and budgets. A meal at a mid-range restaurant can cost around €50 per person, while a three-course meal at a high-end restaurant can cost around €150 or more. For groceries, the prices in Monaco are generally higher than in other European countries. A liter of milk costs around €1.50, a loaf of bread around €2, and a kilogram of chicken around €20.

Transportation Costs

Monaco is a small city-state, so it’s easy to get around on foot. However, if you need to travel further, there are several transportation options available. The cost of a single bus ticket is around €2, while a taxi ride can cost around €15 for a short distance. If you’re planning to buy a car in Monaco, be prepared to pay a high price. The average cost of a new car is around €50,000, while a used car can cost around €30,000 or more.

Entertainment Costs

Monaco is known for its glamorous nightlife, with many high-end bars and clubs to choose from. A cocktail at a trendy bar can cost around €20, while a bottle of champagne can cost several hundred euros. If you’re interested in cultural events, Monaco has several museums and art galleries, with admission prices ranging from €10 to €20.

Conclusion

In conclusion, the cost of living in Monaco in 2023 is high, with housing, food, transportation, and entertainment all costing more than in other European countries. However, if you’re able to afford it, Monaco offers a luxurious lifestyle with stunning views of the Mediterranean Sea and a mild climate year-round.