Monaco is a small but lavish principality situated on the French Riviera, known for its stunning coastline, world-class casinos, and luxurious lifestyle. However, it is also one of the most expensive places to live in the world. In this article, we will be discussing the cost of living in Monaco in 2023, focusing on everything from accommodation to food, transportation, and entertainment.
One of the most significant expenses in Monaco is accommodation. The average rent for a one-bedroom apartment in the city center is around €3,500 per month, while a three-bedroom apartment can cost upwards of €10,000 per month. If you’re looking to buy a property in Monaco, you can expect to pay around €50,000 per square meter.
Getting around Monaco is relatively easy, with a well-connected public transport system consisting of buses and trains. A single bus ride costs €2, while a monthly pass costs €50. If you prefer to drive, be prepared to pay high prices for parking, with hourly rates ranging from €2 to €5. However, if you’re looking for a more luxurious way to get around, you can always hire a chauffeur-driven car or a private yacht.
Food and Drink
Eating out in Monaco can be a costly affair, with a three-course meal for two people at a mid-range restaurant costing around €150. However, there are also plenty of affordable options available, such as local bakeries and street food vendors. Groceries are also expensive, with a liter of milk costing around €2 and a loaf of bread costing around €3.
Monaco is famous for its nightlife, with a plethora of bars, nightclubs, and casinos. However, be prepared to spend a considerable amount of money, with a cocktail costing around €20 and entry to a nightclub costing around €50. If you prefer a more cultural experience, there are plenty of museums and art galleries to explore, with admission prices ranging from €10 to €25.
Living in Monaco may be expensive, but it offers a unique and luxurious lifestyle that cannot be found anywhere else. From its stunning coastline to its world-class restaurants and entertainment options, there is always something to enjoy in this principality. However, it is important to be prepared for the high cost of living and to budget accordingly.