France: in Paris, housing for sale at 5,000 euros per square meter
The BRS, the real solidarity lease, is a system put in place by the city of Paris.
Home ownership which separates land from buildings and is intended for families with modest incomes.
REUTERS / Philippe Wojazer
Text by: RFI Follow
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Housing for sale at 5,000 euros per square meter in Paris, half the price of the market.
This is what will offer, from Tuesday April 6, the city of Paris to families with modest incomes.
Home ownership which separates land from buildings.
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Today when you buy an apartment, you own both the floor and the walls.
The idea of this device is to acquire only the buildings, for a period of 99 years, the land remains the property of the city of Paris.
This is called the BRS, the real solidarity lease.
Royalty fee
The owner will pay in addition, a royalty of two euros fifty per month and per square meter, to the Foncière of the city of Paris.
These three to four room apartments will be reserved for families with modest incomes.
For a couple with two children, there is a resource limit set at 5,000 euros net per month.
Link with Paris
The couple will also have to have a link with Paris, by living or working there.
The first lots for sale will be available in the 14th arrondissement.
There remains the succession.
To prevent any speculation, if the heir earns more than the resource limit, the City of Paris Property Office will buy back the property from him at the purchase price, reassessed with inflation.
This device is not so new.
It has already been implemented, with success, in other French cities such as Lille, Rennes and Lyon.
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To read: Protesters march in Paris to demand the requisition of empty housing
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France
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