MODERNIZATION OF THE REAL ESTATE SECTOR IN MONACO

I would like to commend and thank our friend Nicolas Croesi for his Bill No. 271 submitted to the National Council on real estate activities and professions, for which he is the Rapporteur.

This major piece of legislation marks a decisive step in the structuring and modernization of the real estate market in the Principality. It responds to an essential need: to guarantee the highest standards, which are essential for Monaco's reputation, but also to protect our profession.


🔑 Key advances in this bill:

1. Strengthening of access conditions: Increased requirements for obtaining administrative authorization to ensure the competence of professionals.
2. Professionalization: Introduction of a professional license and a requirement for regular training for all players in the sector.
3. Securing Transactions: Real estate mandates become mandatory to clearly regulate relationships between professionals and their clients.
4. Combating Impersonation: Only professionals with administrative authorization will be able to collect commissions, thereby protecting authorized players and consumers.
5. Regulating Advertising: Stricter rules to ensure the integrity of communications.

This reform aims to protect consumers, combat abusive practices, and consolidate the reputation of our real estate market in line with international standards of compliance and transparency.

It is a strong commitment to making the Principality ever more attractive and competitive

A BIG thank you to you, Nicolas, and to the National Council for this fruitful collaborative work and for always defending our interests.