New housing program helps buyer afford apartment

Alexis, a 39-year-old architect in Montpellier, purchased a three-bedroom apartment in the Orion Sky residence for 208,000 euros using a Solidarity Real Lease (BRS), a program aimed at making housing more affordable.

BRS lowers costs through special arrangements

The BRS program, launched by the Montpellier Metropolitan Area in 2022, uses a reduced VAT of 5.5% and separates land and building costs, offering discounts of at least 30% compared to open-market prices. This approach helps reduce the overall cost for buyers.

Land financing and long-term lease

The Solidarity Land Agency (OFS) manages the program by borrowing 95% of the land value from the Bank of Territories. In return, each homeowner pays a monthly fee of 1.3 euros per square meter as part of a 99-year lease agreement.

Financial support helps single father stay in neighborhood

Alexis, a single father, secured a zero-interest loan of 120,000 euros from Crédit Agricole and a 3.9% interest loan of 86,000 euros. With a monthly salary of 3200 euros, he now spends 900 euros a month on housing, down from 2000 euros in rent.

Program expands with ambitious targets

Currently, 1000 housing units are committed through BRS in Montpellier, with 100 already delivered and 540 reserved. The goal is to reach 4000 units in Montpellier and 5000 across the Metropolitan Area by 2032.

BRS includes both new and existing housing projects

The BRS program applies to both new construction and rehabilitation projects, with a requirement that 20% of units in each real estate development be offered through this model.