Real estate purchase: what is the value of this real solidarity lease which allows you to afford housing 20 to 50% cheaper ?

The Altémed team will be present at the real estate fair this weekend, where we can find out about the BRS. -DR

Buying a real solidarity lease allows you to become an owner in a tense area at a lower cost. Advantages, disadvantages… Are we really owners ? And is this BRS really supportive ? Answers.

The Real Solidarity Lease (BRS) allows you to become an owner in the heart of urban areas, at an affordable price. Its principle is simple. It is based on the dissociation of land and buildings.

The BRS is presented as "a tool for social diversity, aimed at a wide range of households, from low-income families to the middle classes" , explains Agnès Pommereau, sales and customer director at ACM Habitat.

26% of new housing will be intended for BRS

And he finds a buyer. Currently, the BRS constitutes 26% of all new housing intended for social access, an increase of 7% since 2021. An upward revision of the resource ceilings is envisaged (read below ), with the aim of widening access to the system. Whether the BRS should remain in the field of social housing is open to question. How is he so supportive ?

"This makes it possible to lower the price of housing, by purchasing only the housing and renting the land to a non-profit Solidarity Land Organization (OFS), for a low rent, over a period of between 18 and 99 years, renewable, explains Agnès Pommereau. The buyer only buys the built part, the walls, but not the ground, which can reduce the price by 20 to 50%. "A fee of 1.30 € of the square meter was set by the Metropolis for the land". For housing of 70 m² for example, it’s 91€, "and it’is not supposed to increase over time".

The dream of being an owner that comes true for low incomes

For all these buyers, it’s a dream come true, so this young couple who will occupy in 2025 a T4 of 80 m² with terrace of 22 m² and parking at the Orion Sky in Port Marianne, developed by the OFS 3M and the developer Cogedim. "We saw a sign. We wondered if it was really serious!".

Acquired 50% cheaper than the market price, (the 3-room apartment of 64 m² is displayed at a base price of € 319,000), "with telescope on the roof! ", the couple already has their heads in the stars!

The Block Chain operation in Castelnau-le-Lez which includes 11 BRS housing units and 57 social rental housing units has taken off.

A response to the crisis

In the town, where the average price per m² new is estimated at 4800€ continuing its escalation for 5 years (+24% over 5 years), the gap with a BRS is more than striking. Proof by example: a T3 of 67 m² is displayed at 196,000 €, i.e. a selling price per square meter of 2,927 € ; a T4 at 2,970 €/m². Of the 11 accommodations, the average is 2,964 € "parking space and balcony of 22 m² included", adds Stéphanie Yvon, head of the brand new service called Accessiom, within ACM Habitat.

"The profiles are mainly couples with children or single-parent families. 70% of them come from social rental housing and the average contribution is 23,400 €."

4,000 housing units committed by 2032

The OFS Métropolitain created in 2022 by the Métropole, associates Altémed (SERM/SA3M and the social landlords ACM, CDC, FDI, SFHE-Arcade) and will commit to 4,000 housing units by 2032. 82 households have already been approved. 608 housing units are planned for commercial launch for 2024. In 2024, 175 housing units will be pre-marketed in the three ZACs: Eureka in Castelnau le Lez, République in Port Marianne, Cité creative ex-EAI, Beausoleil on avenue de Lodève, Roque Fraïsse in Saint-Jean-de-Védas. Ultimately, 22% of social housing will be in BRS. The Metropolis's investment in June 2023 on the emergency housing plan amounted to 100 million euros; on the BRS alone.

The Metropolis can also be requested to the amount of 5,000 € "to complete a financial contribution on a corresponding but limited profile".
Buyers are not chosen at the highest level of the resource ceiling, "on the contrary, being able to pay for your accommodation in cash does not necessarily benefit you when your file is submitted to the committee. For the moment, we are at revenues which are around 60% of the ceiling, because we are seeking to develop the residential pathway for tenants. On a BRS, we support the owner throughout his life. We advise not to exceed 28% debt.

Conditions, advantages, disadvantages of BRS

CONDITIONS The conditions of access to the system are subject to a resource ceiling linked to geographical area A. These do not cannot exceed 37,581 € for a single person, 56,169 € for two people, etc. The accommodation must be occupied as a main residence, otherwise the BRS will be terminated.

ADVANTAGES15% to 50% savings depending on the sector; the creation of capital for a reduced monthly payment; a guarantee of repurchase of the accommodation by the OFS in the event of resale; VAT reduced to 5.5%; the possibility of financing the purchase with a zero-interest loan for first-time buyers; the possibility of a property tax reduction from 30% to 100%.

DISADVANTAGESIn reality, there are few, it's a question of point of view. Resale must benefit households eligible for this system. In general, the sale price is equivalent to the purchase price of the home, but the added value is adjusted according to the Rent Reference Index (IRL) and the Construction Cost Index (ICC). The future buyer will also benefit from a BRS, from 18 to 99 years old. If, after the death of the owner, the accommodation is unoccupied, the beneficiaries can inherit it under certain conditions. They must themselves meet the eligibility conditions for accession to BRS. If this is the case, the heir(s) will benefit from a renewed lease. Otherwise, they must sell to an eligible household within 12 months. If, at the end of this period, the property is not sold, it is the OFS which buys it back under the conditions and amounts provided for in the lease.

A “madness” architectural architecture of the 21st century becomes accessible

Promoters have jumped on the bandwagon. The BRS represents serious construction opportunities, which does not mean that they will not be profitable. Indeed, the two markets complement each other.

The Oasis à Ovalie project by Sogeprom-Pragma, one of the 4 winners of the first wave of the Architectural Folies of the 21st century, is proof of this. Of the 53 housing units delivered within two years, 30% will be in BRS. With access to the 250 m² from bar to rooftop… Please!

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