The Monegasque government has unveiled the next phase of its ambitious housing initiative, confirming that a second wave of high-quality state-owned apartments will be delivered from 2025 to 2029.
Since the plan was first outlined by Prince Albert II in 2019, Monaco has invested €1.5 billion in public housing, resulting in 633 new apartments by the end of this year. That equates to an average of 105 units delivered annually, and marks what officials describe as a historic level of spending in the sector. While the government claims the first phase has addressed “the great majority” of national housing needs, demand remains high.
New construction to continue through 2029
The second phase, presented to the National Council this week, will see five major developments added to Monaco’s domanial housing stock. These include 197 units at Bel Air, up to 90 at Hector Otto, 50 at Résidence Héméra – Bloc A, 35 at Larvotto Supérieur, and 27 at La Luciole. The government says these projects will allow for a steady pace of deliveries through to 2029.
Target to house three-quarters of nationals
According to the current trajectory, officials expect that nearly 75% of Monegasques will be living in state-owned properties by the end of the decade. From 2030 onwards, delivery schedules will be adjusted based on demographic data provided by Monaco’s statistics office, IMSEE. The plan will be reviewed every five years to account for population shifts and changing housing demands.
Allocation system overhaul by 2026
A separate reform of the housing allocation system was also announced. The government says it will introduce a new methodology by the end of 2026 aimed at increasing the frequency of apartment allocations and better reflecting the preferences of applicants. Details of how this system will operate remain limited, but the plan was presented as part of a broader effort to make state housing more accessible and responsive.
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Photo of Larvotto, credit: Cassandra Tanti, Monaco Life