New Policies for Monaco’s Housing Market

 November 9, 2018

Housing in Monaco
Source: www.nytimes.com


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At a press meeting, Jean Castellini, Finance and Economy Minister, introduced new policies concerning housing support implemented by the Prince’s Government. Many new measures were announced which take into account the reality of Monaco’s real estate market, and, more generally, the limited size of the Principality.

The first announcement was an important advancement for the Ida 1 project. The government just finalized the acquisition of the Villa des Platanes, which constitutes the final obstacle before the implementation of the project.

Other policies in the housing sector for the short, medium and long-term were also announced. Two ministerial decrees took effect on 2 November, one of which concerns National housing aid with an overall envelope of 9 million euros. The initial 2019 budget will be 100 million euros of investment for the acquisition of new buildings or flats, to be able to house more Monegasques in the State sector. Measures that complement an investment policy of €315 million over the last three years for the acquisition of 13 buildings and 65 apartments.

Originally published by Olga Taran at HelloMonaco.com


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