Real estate has resources. It was the baseline of the living room Simi which was held this week. Real estate will need the resource.
First of all, financial resources, to get through this rate shock that has shaken the entire edifice built in recent years, carefully or boldly, by investors. Clearly, the market is already distinguishing indebted players from others. The first victims fall, including historical ones, like the group Reside studies placed under backup procedure this month.
Financial resources will be needed, especially as the industry must pass another barrier, that of decarbonization. It is no longer even a question of performance or value, it has become a question of asset liquidity, that is to say, survival. And if the bill is not yet quantified (or quantifiable), it will certainly be expensive.
Especially since to implement it, another resource will be needed, that of human capital. One of the main concerns of the real estate sector is to retain talent and attract new talent in a crisis that promises to be long and profound.
But real estate is also a resource. And not only fiscal, as Bercy sees it.
More than ever, business real estate (or rather real estate for businesses) is a key tool to support France's desire to reindustrialize at the highest level of the State. As such, it deserves to be facilitated more than drowned in a straitjacket of sometimes contradictory normative injunctions. Likewise, it cannot be a local adjustment variable, and should be a national cause in the name of the social contract that should unite us more than divide us.
This social contract is the basis of which housing is located. The apathy of the government shocked not only professionals in the profession. It offends economic forces as well as the common sense of households. Especially since real estate in its global sense remains a reassuring savings vehicle for the French.
In recent years, the executive has somewhat forgotten these aspects, drawing on a sector that is too quickly assimilated to rent.
Fortunately, real estate players have another resource. Mental this time. This is what they tried to show during a particularly lively Simi. We'll see who still has resources during the 2024 edition.