Property and construction law

The law firm GIACCARDI & BREZZO Avocats can assist in every step of a real estate project, throughout the construction operations and during the different phases of the life of a property, in particular:

• Project design and financing

• Implementation of contracts for the completion of the building

• Assistance regarding the treatment of difficulties encountered during construction

• Counselling and settlement of disputes relating to condominium

• Counselling and settlement of disputes relating to leases, including the special status of leases for office use and commercial leases

• Follow-up of judicial expertise

• Liability claims before the judicial and administrative courts

• Construction litigation


Monegasque property and construction law

The real estate sector holds an important place in the Principality and there is a great demand for property. The attractiveness of Monaco and its limited area are two important factors that define the characteristics of the sector.

There are many transactions and a constant stream of new construction projects, including the extension at sea (urbanization project of 6 hectares), in progress.

These projects, due to Monaco’s size and the geological constraints can be very technical. In this framework, a good knowledge of the regulatory constraints and geotechnical issues is essential.

The requirements of the Environmental Code created by Law No. 1.456 of 12 December 2017 must not be neglected (town planning permission, energy performance of buildings…).

In addition, Law No. 1.446 of 12 June 2017 on the preservation of the national heritage has amended the Ordinance-Law No. 674 of 3 November 1959 on town planning, construction and roadways. In the event of demolition of remarkable built-up elements and alteration of remarkable landscape elements (insalubrity, serious disorder or disaster, development operation in the perimeter of which the building appears), the owner may be forced to rebuild.

With regard to the rental sector, contrary to France, fewer laws are applicable. This allows, in principle, a significant contractual freedom for the assets of the so-called « free sector ».

By contrast, owners of properties in the protected sector must bear some legal constraints. Flats in buildings constructed before 1 September 1947 are governed by law No. 1.235 of 28 December 2000 (modified by law No.1.291 of December 21, 2004) and therefore, the contractual freedom of their owners is significantly diminished.

The lease for office created by Law No. 1.433 of 8 November 2016, which concerns the leasing of premises for the exercise of an intellectual and administrative activity, is a specificity of Monaco. Its regime is autonomous compared to other Monegasque leases (commercial, industrial or artisanal lease, rental lease).



Our related publications

Draft law No. 252 relating to the regulation of the profession of property trader

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Law n° 1.494 of 8 July 2020 relating to the fraudulent organisation of insolvency (Journal de Monaco N° 8495 of 17 July 2020) stems from Bill Bill No. 1002 relating to the fraudulent organisation of insolvency, received on 11 October 2019 by the ...

Focus on Legislative Drafts No. 249 and No. 250 1 adopted by the National Council of the Principality of Monaco on 6 April 2020

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Global Leaders Forum - 2nd Annual Wealth Management Forum

10-11/09/2019 (London) With the participation of Patricia KEMAYOU MENGUE. Event for corporate executives, regulators, legal professionals and business advisors. More information...

Eurojuris International Congress 2018

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Law against money laundering, the financing of terrorism and corruption

Law No. 1.462 of 28 June 2018 reinforcing the anti-money laundering, financing of terrorism and corruption mechanism transposes the EU's Fourth Anti-Money Laundering and Financing of Terrorism Directive[i] aligned with the revised FATF Recommendation...

Prevention of money laundering and financing of terrorism

Sovereign Order No. 7.065 of 26 July 2018 amending Sovereign Order No. 2.318 of 3 August 2009 amended, setting the conditions for application of Act No. 1.362 of 3 August 2009, amended by Act No. 1.462 of 28 June 2018 reinforcing the anti-money la...

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