Accommodation prices in Monaco tend to be on the higher side. Saving money in the capital of luxury living isn't common, but if you're aware of some tourist secrets, you can find ways to have a more affordable stay in Monaco.
To estimate the cost of staying in Monaco, you should budget for accommodation, which typically starts at a minimum of 100 EUR per room for two people. Additionally, consider transportation costs, although Monaco's compact size often allows for walking, and plan for excursions, which usually have an average price of around 20 EUR for one adult.
One cost-effective option for staying in Monaco is to rent a room in a hotel located in Nice, which is about 40 minutes away by bus from Monaco. This way, you can have a comfortable night's stay and then arrive in Monaco in the afternoon for your outing.
You can also save money by booking a room at one of Monaco's top hotels during the low season, which typically falls between October-December and January-April.
It's worth noting that many wealthy individuals who invest in Monaco real estate don't reside in the Principality, and their apartments remain vacant. While renting apartments is becoming more popular, it may not always be the most cost-effective option for tourists in Monaco. The average price for an apartment accommodating four people starts at around 1500 EUR per week during the low season. Despite the cost, it's still a viable option to consider.