Monaco’s government has placed housing at the forefront of its agenda, responding to the evolving needs of Monegasques with a renewed commitment to expanding state-owned housing. During budget debates in December 2024, Minister of State Didier Guillaume announced that the second phase of the National Housing Plan, originally launched in 2019 by HSH Prince Albert II, would be unveiled before summer 2025.
Over the past five years, Monaco has invested 1.5 billion euros in housing projects, delivering 633 state-owned apartments and making housing the largest allocation in the 2025 budget at 314 million euros. While a recent survey showed that 79 percent of Monegasques are satisfied with their homes, it also highlighted a growing demand for additional housing options, driven by limited available land within the principality.
The updated housing strategy aims to adapt to these challenges by balancing ongoing projects with new initiatives. Although specific details remain under wraps until mid-2025, the government has emphasised flexibility in scaling projects and adjusting timelines to better address community needs.
Several major developments are already underway. A key project on Avenue Hector Otto, initially planned for 60 units, now aims to deliver up to 90 apartments, with construction tenders scheduled for 2025. The La Luciole initiative is poised to add 27 apartments, pending final approval, while the Bel Air site is expected to be completed by late 2027, with potential expansions under review. Projects in Upper Larvotto and Les Lierres/Nathalie have reached critical stages, including land agreements and contractor selections, while Annonciade II is being reimagined within a broader urban planning framework that prioritises neighbourhood-wide development.
Maryse Battaglia, Chair of the Housing Committee, praised the government’s progress but pointed out areas for improvement. She called for better upkeep of existing properties, citing Saint-Charles and Fontvieille as examples, and urged the timely delivery of promised resources like tenant guides and rental charge statements. Enhancements to housing allocation processes, including the use of new technologies for faster and more transparent decision-making, were also emphasised.
In addition to housing, the government is taking steps to ensure the long-term availability of land for public use. Reforms to the State’s right of pre-emption are in the works, aiming to extend its scope to include commercial and artisanal properties. This aligns with Monaco’s strategic shift toward integrated urban planning, where projects are developed at a neighbourhood level to maximise efficiency and community impact.
