Sustained action in favor of housing
Monaco is a town-State. It is clearly unnecessary to underline the Principality's strengths and the lack of housing leading to pressure on the real estate market.
The Prince's Government does not have the remit, except regarding certain priorities for the development of the territory, to intervene on the private real estate market. On the other hand, it is essential that Monegasque nationals and denizens can be adequately housed in the country, at conditions that are in line with their income.
The Prince's Government is thus taking affirmative action in three directions – the State sector, the intermediary sector and the rent-controlled housing of private tenure.
As initiated by H.S.H. Prince Rainier III, and under constant development, the State housing sector enables Monegasques to be housed in apartments belonging to the State. The apartments are allocated according to criteria defined by Ministerial Order. Rents are fixed according to the area and the geographical location of the dwelling. National Housing Aid may also be granted to households according to their income and the level of the rent.
Since 2010, Monegasque nationals housed in the State sector can also subscribe to a "housing-capitalisation contract".
Nationals can thus have access to accommodation that meets their needs.
The State Property Authority has 3,334 dwellings in Monaco, allocated by State Housing Commissions, and 600 in the communes of Beausoleil and Cap d’Ail for Government officials or those employed by State-owned firms, of nationalities other than Monegasque.
Although the cost of these constructions is considerable, it remains a Government priority to serve the population and provide adequate housing.
Rent-controlled housing of private tenure guarantees denizens fixed levels of rent in buildings built before 1947.