Monaco prioritizes housing expansion to meet 2040 targets

Monaco's Minister of State, Christophe Mirmand, has designated housing for Monégasques as a “priority absolue” (absolute priority) for the government. Following the delivery of 633 state-owned homes since 2019, a second national plan for 2026–2032 aims to provide approximately 435 additional units.

Projections from the Monaco Institute of Statistics and Economic Studies (Imsee) suggest the principality will need roughly 880 additional state-owned homes by 2040 to reach a target of 5,260 units. To meet this, the government is considering a third national plan and intends to present necessary credits in the 2027 budget. Proposed projects include developments in Bel Air, Larvotto-Supérieur, La Luciole, Hector Otto, and Les Lierres/Nathalie.

Mirmand noted that the government will explore optimizing operations through vertical extensions where architecturally compatible. However, he cautioned against unsustainable spending, noting that over 1.6 billion euros have already been mobilized for housing between 2019 and 2026, excluding land costs. Additionally, the government plans to increase the frequency of allocation commissions to prevent vacancies between annual cycles.