Monaco’s government will deliver a second wave of state-owned apartments from 2025-2029, building on a €1.5 billion investment since 2019 that has created 633 new units.
Since Prince Albert II launched the initiative in 2019, Monaco has invested €1.5 billion in public housing, yielding 633 new apartments by the end of this year. This averages 105 units annually, a level officials deem “historic” for the sector. Despite claims that the first phase met “the great majority” of national housing needs, demand persists.
Construction continues through 2029
The second phase, presented to the National Council this week, adds five major developments to Monaco housing expansion inventory: 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. These projects ensure consistent deliveries through 2029.
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75% of nationals targeted for state housing
Officials project that nearly 75% of Monegasques will reside in state-owned properties by 2030. Post-2030, delivery schedules will adapt to demographic data from IMSEE, Monaco’s statistics office. The plan will undergo a five-year review to accommodate population and housing demand shifts.
Housing allocation system to be reformed by 2026
A separate overhaul of the housing allocation system was also revealed. By late 2026, the government will implement a new methodology to increase allocation frequency and better match applicant preferences. While operational details are sparse, this reform is part of a broader effort to enhance accessibility and responsiveness in Monaco housing expansion.
