Altarea launches a housing offer for first-time buyers

The objective is to launch “1.500 batches on this new model by the end of the year”, notably via the Cogedim brand, explains the group in a press release.

Faced with soaring interest rates, which make the purchase of a primary residence inaccessible for the majority of first-time buyers, "the idea is to start from the customer and the purchasing power of households, by raising one by one the obstacles that prevent you from buying: housing prices, personal contribution, credit that is too expensive,” explains Altarea.

The group promises buyers “loans at subsidized rates, without security deposit, without initial contribution”, with notary fees payable by the developer and an amount of monthly payments “close to, or even equivalent to, the price of a simple rent” .

To cover its costs, Altarea relies on the “strict limitation” of its operating costs and its promotion margin, as well as on an “optimized design of the building” with a “rework of the plans without unnecessary square meters”.

This results in interest rates "between 1,5 and 2%", insurance included, thanks to partnerships with banks (Crédit agricole IDF, LCL Habitat) and the new zero-rate loan (PTZ) refocused on the areas tense and collective housing.

“We are not losing money,” Alain Tavarella, founding president of the group, assured Le Figaro on Wednesday.

“Some land owners agree to lower their price of land. Some mayors agree to review their requirements, in particular to favor two or three rooms which correspond to the sociology and needs of households,” he added.

Like other developers, Altarea is bearing the brunt of the new real estate crisis, torn between rising construction costs and sluggish demand, under the effect of rising interest rates. However, it does not provide a job protection plan as is the case with its competitor Nexity.

However, it plans to reduce the weight of promotion in its overall turnover from 70% to 40% by diversifying into logistics, renewable energies or data centers.