The concept behind the shared-ownership lease (BRS) is simple. You purchase only the home and lease the land on which the development is built. This program lowers the purchase price and helps many households become homeowners.
The cost of the land accounts for 15 to 30% of the total price when purchasing a property. This can be a barrier to homeownership. That’s where the “bail réel solidaire” comes in. By separating the building from the land, this program significantly reduces the total cost of your purchase. Since 2016, it has greatly facilitated homeownership for a wider range of people. Explanations.
Community-based real estate lease: an opportunity
Unlike a traditional purchase, which includes both the land and the home, with the BRS program you purchase only the “structure.” The land, meanwhile, is owned by a community land trust (OFS). This is a nonprofit organization, approved by the regional prefect, to which you pay a very low rent for the land. Note that buyers are required to use the home as their primary residence.
With terms ranging from 18 to 99 years, the BRS also qualifies for a reduced VAT rate of 5.5% instead of 20%. For first-time homebuyers, it also offers the option to finance the purchase with an interest-free loan. Finally, resale is entirely possible. The property must simply be sold to a buyer eligible for the BRS. If you have not found a buyer after one year, the OFS will buy back your property.
BRS income limits to be adjusted in 2024!
Since eligibility for the BRS is means-tested, this is the good news at the start of the year. The income limits have been raised. These limits are based on the reference taxable income (from two years prior), which depends on the region (zones A, B, or C) where the residence is located and the number of people in the household:
- A single person (income: €37,581 in zones A and B1)
- 2 people (budget: €51,169 in zones A and B1)
- 3 people (budget: €73,630 in Zone A and €67,517 in Zone B1)
This adjustment will benefit a larger number of households and make it even easier to become a homeowner. It should be noted that the solidarity-based housing agency is responsible for selecting households that may be eligible for the solidarity-based lease.
BRS Programs at Villes et Villages
The shared ownership lease applies to off-plan purchases. At Villes et Villages, there are many opportunities available in several residential complexes:
Rivesud, new development in Sciez (Zone B1)
2-bedroom apartment (1 parking space) for €212,090
3-bedroom apartment (1 parking space) for €281,550
4-bedroom apartment (1 parking space) for €316,500
Précosy, new development in Villy-le-Pelloux (Zone B1)
Two-bedroom apartment (2 parking spaces) for €215,604
Salève Parc, upcoming new development in Archamps (Zone A)
Please contact us for property types and prices
To find out about availability and purchase options, please contact our advisors: Vincent POLLET at 06 75 21 08 12 and Sébastien BOLLON at 06 86 94 61 52
