Monaco Government Advances Housing Expansion to Meet Local Needs

The Monaco government, under the stewardship of Minister of State Didier Guillaume, has reaffirmed its dedication to addressing the housing needs of its citizens by announcing the forthcoming second phase of the National Housing Plan. Originally initiated in 2019 by HSH Prince Albert II, this next phase is set to be unveiled before the summer of 2025. Over the past five years, Monaco has committed 1.5 billion euros to housing developments, resulting in the construction of 633 state-owned apartments, making it the largest budget allocation for 2025 at 314 million euros. Despite a high satisfaction rate among Monegasques, a survey indicates a rising demand for more housing due to the principality's limited land.

The government's approach to the escalating housing demand includes not only the continuation of existing projects but also the integration of new initiatives tailored to the community's needs. Details of these plans will remain confidential until mid-2025, with an emphasis on the flexibility of project scales and timelines. Current projects include the expansion of the Avenue Hector Otto development, which now aims to house up to 90 apartments, and the La Luciole project, which is set to add 27 new homes upon approval. Completion of the Bel Air site is anticipated by late 2027, with additional expansions under consideration.

Addressing the operational aspects of housing, Maryse Battaglia, Chair of the Housing Committee, highlighted the need for improved maintenance of existing properties and called for the timely issuance of tenant guides and rental charge statements. The government is also exploring reforms to extend the State's right of pre-emption to encompass commercial and artisanal properties, reflecting a strategic pivot toward integrated urban planning. This initiative aims to enhance land use efficiency and benefit the community at the neighborhood level, ensuring the principality's development is both strategic and sustainable.