French Government Accelerates Sale of Unused State Properties
The French government accelerates sales of unused properties to cut maintenance costs.
Key Points
- • The French government is selling off unused state properties to reduce maintenance costs.
- • The state's real estate portfolio was valued at €73.6 billion as of 2024.
- • Key properties for sale include Crous 'Le Rabot' in Grenoble and a house in Saint-Pierre-d’Entremont.
- • Properties are attracting high bids due to unique locations and public interest.
The French government is moving forward with an ambitious strategy to sell off its unused and under-maintained properties as part of efforts to reduce public spending. With a real estate portfolio valued at €73.6 billion as of 2024, which includes 195,745 buildings and over 31,000 plots of land, the state aims to alleviate the financial burden of maintaining such extensive assets.
One notable sale includes the Crous 'Le Rabot' university residence in Grenoble, which is set to close in August 2025. The state is currently seeking bids to repurpose this property for public use, with submissions required by December 15, 2025. A buyer is expected to be finalized by September 2026.
Additionally, a house in Saint-Pierre-d’Entremont, previously owned by the Office National des Forêts, was recently sold for €234,500, despite needs for significant repairs estimated at €150,000. This sale illustrates the high demand for government properties, reflecting their unique locations and potential.
Another property up for sale is an old mill in Livron-sur-Drôme, which also requires extensive renovations. The government's approach has involved auctioning these properties and calling for offers, with many bids rising above market prices due to competitive interest.
This strategic move by the French government aligns with efforts to manage state assets more effectively while maximizing public value, given the pressures of costly maintenance on its extensive portfolio.