Press briefing on housing

 October 31, 2018

Jean Castellini / ©Direction de la Communication/Michael Alesi



Jean Castellini, Minister of Finance and Economy, gave an update today on the Government’s housing support policy. He highlighted two ministerial decrees relating first to the consideration given to the length of time applicants have been on the waiting list when allocating state-owned apartments, and second to state assistance, in the form of an interest-free loan, for paying deposits and agency fees in the non-regulated sector. These decrees will be published on Friday 2 November.

Mr Castellini stressed that

“The Government is pursuing a comprehensive vision for housing policy in cooperation with the National Council. This vision is reflected in the implementation of medium- and long-term structural measures and support measures.”

Baseline rents for national housing aid (ANL) and ceiling rents for differential rent allowance (ADL) will be increased on 1 January 2019: by between 15% and 29% in the first case, depending on the type of apartment (from studios to four-room apartments), and by 5% across the board in the second case.

In addition, the Prince’s Government is continuing its investment policy, made possible by the good fiscal health enjoyed by the Principality. Over the last three years, EUR 315 million have been invested in purchasing 13 buildings and more than 65 apartments. The preliminary budget for 2019 includes EUR 100 million to launch mid-size public construction projects and to purchase new buildings or apartments, with the aim of being able to house more Monegasque nationals in the state-owned sector.

During the press briefing, the Minister also announced the conclusion of negotiations to purchase Villa Les Platanes, enabling phase 1 of project Ida to be launched.

“These are all new measures intended to take account of the reality of the property market as well as the specific nature of the housing situation in Monaco,” he summed up.

Originally published at Government Portal


Tags: , ,

Subscribe to our weekly Monaco newsletter

* indicates required

Monaco Wealth Management will use the information you provide on this form to be in touch with you and to provide updates and marketing. Please let us know all the ways you would like to hear from us:

You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us, or by contacting us at We will treat your information with respect. For more information about our privacy practices please visit our website. By clicking below, you agree that we may process your information in accordance with these terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

Latest News
%d bloggers like this: