Monaco Government Revises National Housing Assistance to Meet Resident Needs

The Prince’s Government of Monaco has announced revisions to the regulations governing National Housing Assistance and State-owned housing, aiming to more effectively address the diverse housing requirements of its residents. These updates, which were detailed in the Journal de Monaco on October 18, 2024, are designed to optimize the support system for various groups within the private housing sector.

Significant modifications include changes to how assistance is calculated to ensure that benefits are targeted and advantageous. Notably, older surviving spouses over 65 will continue to receive full assistance if they were previously allocated an extra room due to health concerns. Moreover, the revised rules will now allow for the exclusion of maintenance payments from household income calculations and omit earnings of student children from the family income assessment, up to a certain threshold.

Additionally, the government has set new reference rental rates that will take effect from January 1, 2025. These rates are structured as follows: studios at €2,720, two-room apartments at €5,310, three-room apartments at €8,850, four-room apartments at €13,490, and apartments with five rooms or more at €16,850. These adjustments follow earlier financial incentives aimed at encouraging households without dependents to vacate larger apartments, thereby facilitating better allocation and utilization of housing resources across Monaco.