The Principality of Monaco, which is committed to reducing its greenhouse gas emissions with the aim of achieving carbon neutrality by 2050, has set up a national action plan focusing in particular on energy performance in buildings.

With a limited building area, the price of real estate in Monaco is notoriously high, even the highest in the world. Accommodation in Monaco can therefore be difficult for some tenants with modest incomes whether they are Monegasques or of other nationalities.

For this reason, and in order to continue to play its social role, the State has set up housing aid measures to prevent the rent burden from becoming too heavy.

 

The rent controlled sector concerns most of the apartments located in buildings constructed or completed before September 1^st, 1947 and enables “protected” tenants, mainly Monegasque people and “Children of the nation”, to benefit from dwellings at controlled rents, fixed by the State and lower than those in the non-regulated sector. Such dwellings are subject to Law No 1.235, which also aims to protect their rights.

The Principality remains the most expensive premium real estate market in the world and ignores the current particular and tumultuous period. Indeed, unlike other industries which are already fully suffering the economic consequences, the Monegasque property market is relentlessly pursuing its development.

The luxury eco-district, which should be completed in 2025, will welcome luxury dwellings, the expansion of the Grimaldi Forum, a car park, a small marina, gardens as well as public spaces and facilities, all set on a 6-hectare platform.

The Principality of Monaco remains an outstanding place which benefits from an unequalled quality of life enjoying an image of security, serenity, economic prosperity and favorable tax system. For all these reasons and many more, the demand for the acquisition or the rental of real estate in order to obtain either a residence or simple to invest, remain sustained.  

The restaurants, cafés and bars of the Principality reopened on June 2nd complying with strict rules: in addition to the health measures required, it will be preferable to make reservations for a maximum of 6 people per table.

This resumption of activity, which has been awaited for many weeks, will perhaps motivate the most undecisive persons to initiate or follow their professional project of installation or extension in the Principality.

The construction of the new underground car park, perpendicularly to the Portier street and on the edge of the future Anse du Portier eco-neighborhood, has been completed and the public can now use its 155 car spaces, including 10 reserved for electric vehicles in service and 16 pre-equipped and 7 reserved for people with reduced mobility, in addition to 34 spaces for two-wheelers. The entire complex is spread over 4 levels.

In order to overcome the economic difficulties encountered by monegasque companies, caused by the suspension of the activity due to the Covid-19 virus pandemic, the National Council adopted, at the Public Session of April 6^th, 2020, a draft law relating to the commercial and professional lease contracts for tenants in the private sector.

For one hundred and fifty years, the legend of Monaco has remained unalterable. Always fascinating and blooming, the Principality, remains an outstanding place which benefits from an unequalled quality of life enjoying an image of security, serenity, economic prosperity and advantageous tax system.

In line with the renovation works of the Larvotto district, which began with the sea extension of Anse du Portier, the sole public beach of the Principality will become more beautiful for greater conviviality and attractiveness.

In 2027, the aspect of the Fontvieille district will be transformed to become a place of the Riviera that will be iconic. The Prince's Government has signed a partnership with Socri, a company specialized in exceptional programs with a strong environmental dimension, to completely restructure the shopping center.

Like every year, the Monaco Institute of Statistics (IMSEE), publishes the figures regarding one of the main industry for the economy of Monaco, the real estate, and more specifically the private residential sector with its ten-year evolution

One year after the construction of the luxury real estate complex "One Monte-Carlo" and the rehabilitation of the Boulingrins gardens, Monte-Carlo goes on with its metamorphosis with the “Place du Casino” which should appear all brand new at Easter.

As every year the Monegasque Institute of Statistics (IMSEE), publishes the figures as part of a real estate study. The objective is to present one of the major industry of the Monegasque economy, and more specifically the private sector for residential use as well as its ten-year evolution.

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We had the privilege of having an interview for a press article on the Monegasque real estate market with the publication of one of our property that we propose for sale. 

https://www.bloomberg.com/news/articles/2019-05-15/monaco-real-estate-for-sale-rent-prices-neighborhoods-taxes?srnd=premium-europe