GUADELOUPE AND THE CONSTANTLY RISING DEMAND FOR HOUSING
REAL ESTATE DIVISION – GJG
REAL ESTATE IN GUADELOUPE – THE STATISTICS
According to an INSEE report from 2017, outlining the situation on January 1, 2016, the 20% rate of social housing – 25% in some municipalities – established under Article 55 of Law 2000-1208 of December 13, 2000 on solidarity and urban renewal, would show huge disparities from one municipality to another. For instance, there is a proportion of more than 51% of social housing in Cap Excellence, compared to only 6% and 10% respectively on the Riviera du Levant and Nord Grande Terre. When adding up all the social housing in the regions that do not respect this 20% rule, the cumulative deficit would be as much as 8,200 missing social housing units. The study adds that in order to balance this deficit, it would be necessary to create 1,880 new social housing units per year, for 10 years in a row.
It is important to consider the demographic dynamics with this growing demand, because although Guadeloupe has a sustained birth rate, the migratory deficit counterbalances this dynamic to eventually show, since 2006, a very limited increase in population of a mere 0.1% per year. The surge in housing demand is exclusively linked to the loosening of households, which in 30 years have gone from an average of 3.8 people to 2.3 people
THE CHALLENGES OF URBAN RENEWAL IN GUADELOUPE
The bet on this renovation does not stop there but includes a factor of social diversity that will ultimately enable senior citizens, modest households and students to reinvent neighborhood life in new buildings where outdoor facilities will be of equal importance to the quality of the rental housing. In this way, the renovation of housing – and whenever too dilapidated, its reconstruction – goes hand in hand with the development of public spaces as well as the construction of commercial space so as to enable these less fortunate neighborhoods to regain attractiveness in the eyes of the population.
GJG and real estate in Guadeloupe
The real estate activity within the Jacques Gaddarkhan Group is divided into two sectors. On the one hand, real estate development, meeting the demand of private individuals and accounting for 20% of the activity, and on the other hand, for the remaining 80%, the construction of offices as well as making them available to public organizations through leases. Public requests are made by the regional and departmental councils.
The projects built in this context are subject to VEFA sales (Sales before Completion) or rental programs.
Many first-time buyers choose VEFA. This winning formula, which consists in buying a property either off-plan or while under construction, guarantees future owners a new home that meets current standards, while making it possible, most of the time, to customize their home. Moving a wall, eliminating a bedroom to expand the living room or choosing a shower rather than a bathtub are, depending on the particular conditions of the construction programs, all possible through the VEFA programs. Besides these material aspects, the payment is also secured through a staggered payment depending on the progress of the construction work.
All of the real estate programs offered by GJG comply with the safety standards in force and follow an exemplary High Environmental Quality (HQE) approach.