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While sales and construction of housing are at half mast, the Prime Minister has proposed to buy 47,000 new unsold homes by public bodies.
Fewer housing units under construction and stocks of brand new apartments that cannot be sold for lack of buyers. Everywhere in France, promoters are going through an unprecedented crisis. On a singer near Orléans (Loiret), more than seven hectares of land are under construction. The work is on time, but the problem is that there are not enough customers. In total, 20% of homes already on sale do not find takers.
Rents 20% cheaper than in the private sector
So, to get the promoters out of the impasse, a subsidiary of the Caisse des dépôts takes out its checkbook. The social landlord is investing more than three billion euros, enough to order 17,000 new homes in tight areas and then rent them. The state buys them cheaper, but developers would find it in their interest. These accommodations will also offer rents 20% cheaper than in the private sector. Action Logement is also committed to buying 30,000 homes in order to rent them out.