The Honoria and Réséda residence buildings, among the best state funded housing projects in the world, are nearing completion with the first Monegasque citizens set to move in in a matter of weeks.
The micro-state of Monaco has a very ambitious – and generous – housing plan to accommodate its native citizens, who would otherwise be priced out of what is the most expensive real estate market in the world.
State-owned housing is allocated to Monegasque households in line with their income and a strict call for applications applies to each new residential building.
The latest call took place between 29th August and 23rd September 2022, and 304 homes were allocated including those in the new Honoria and Réséda (Testimonio II) developments.
Tour of Honoria and Réséda
On Friday 16th June, Monaco’s Minister of Equipment, Environment and Town Planning Céline Caron-Dagioni, Minister of Economy and Finance Jean Castellini, President of the National Council Brigitte Boccone-Pages, and several elected officials visited the ‘Tour Honoria’ and ‘Tour Réséda’.
‘Honoria’, located on boulevard Belgique, consists of 84 apartments as well as a crèche which will be managed by the Mairie. Delivery of this new building is scheduled for this month and the first tenants will be able to move in during the summer of 2023.
The ‘Réséda Tower’ is part of the Testimonio II development on Boulevard d’Italie and it has a total of 197 apartments, following a decision to raise it by five additional floors. It’s due to receive residents in the first quarter of 2024.
“During this visit, those present were able to appreciate the quality of the apartments and look forward to future visits by the Monegasque beneficiaries. State tenants will thus be housed in very good conditions,” said the Prince’s Government in a statement. “These two operations constitute major achievements within the framework of the major efforts undertaken for several years by the Government for the housing of Monegasques in accordance with the wishes of H.S.H. the Sovereign Prince.”
Substantial funding of around €1 billion had been made available for housing construction between 2019 to 2023 alone.
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