Monaco has introduced a new housing scheme aimed at freeing up larger state-owned apartments for growing families by offering an incentive for residents to downsize. The initiative, developed by the National Council in collaboration with the Monegasque government, seeks to optimise the use of state housing and adapt to residents’ changing needs.

Under the new system, households occupying four- or five-room apartments, whose children have moved out, can relocate to a modern three-room apartment while maintaining the same subsidised rent, charges, and deposit conditions. To further ease the transition, the government is offering a fixed allowance of €10,000 to cover moving costs.

To facilitate the process, all available housing offers are now listed on a centralised platform, Mon Espace Domaines, which provides residents with better visibility of exchange opportunities. According to the National Council, a dedicated agent is also available to offer personalised support throughout the relocation process.

“These emblematic measures of the mandate, long awaited by the Monegasques, will allow for better management of state-owned housing to best satisfy the legitimate aspirations of our compatriots,” said Maryse Battaglia, President of the Housing Commission, adding that the measures reflect the authorities’ commitment to adapting to demographic changes and maximising the use of the Principality’s real estate resources.

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.

Photo credit: Cassandra Tanti, Monaco Life