Despite the crisis in new real estate, Action Logement has met its objectives for 2024

Action Logement, a giant in social housing and housing assistance, has achieved its 2024 objectives despite the crisis in new real estate, its chairman announced on Thursday, January 16, during the group's New Year's greetings.

"We have kept both our promises and our commitments," said Bruno Arcadipane, highlighting the "14 billion euros" invested in affordable housing, two billion more than last year.

Financed by a contribution from businesses, the former 1% housing managed by employers and unions manages more than a million social housing units.

In 2024, more than 44.000 housing units were started (+18,5% over one year) and more than 42.000 rehabilitated (+6,3%).

The group obtained more than 43.000 approvals (building permits) for social and intermediate housing, down 5% over one year.

These "efforts" meet the objectives of the five-year agreement 2023-2027 signed with the State in June 2023, while new real estate is hard hit by the crisis due to the rise in construction costs and the high level of borrowing rates.

In terms of supporting employees in their residential mobility, Action Logement's second mission, the group delivered 780.000 aids and services in 2024 and is aiming for a target of 800.000 for 2025.

According to its president, the group played "its role as a shock absorber" in the midst of the crisis.

"Don't touch the loot" said Bruno Arcadipane, in allusion to a line from the film "Les tontons flingueurs", regretting to see the financial resources of the group, which totaled 4,8 billion euros in 2023, "regularly targeted" by Bercy.

He also maintained his commitments for 2025 in front of the Minister of Housing Valérie Létard: "I will not change strategy in 2025. We must accelerate, accelerate again."

"We will have to continue to face the increase in construction costs, the urgency of the energy transition and the fight against housing insecurity," the minister recalled for her part.

The minister did, however, highlight the "positive outlook" for the coming year, citing the drop in the Livret A rate, brought down to 2,4% on February 1, and the expansion of the zero-rate loan.

Prime Minister François Bayrou has pledged to extend zero-rate loans to all of France for new housing.