US: IDF: Office vacancy is growing, what to fill the housing shortage?

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There are more and more empty offices in the Ile-de-France region, and this is perhaps good news for Ile-de-France housing. “Recent developments, teleworking, Flex-office broadcast (absence of a fixed office, editor's note), were an opportunity for companies to optimize their real estate strategies, increasing the vacancy of offices by 2.6 million m2 at the end of 2019 , just before the crisis, at 4.4 million m2 in mid-2022, including half a million on vacation of more than two years, "notes the IPR, this urban planning agency, financed mainly by the Ile region Ile -of France. Offices represent 53% of housing converted from 2013 to 2021 in Ile-de-France.

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In addition to the offices, there are also concerns by this retraining, commercial premises, storage, industrial and agricultural buildings, as well as public buildings (administrative, school, etc.) or air car parks.

“Zan and Zen objectives (zero net artificialisation and zero net emission, editor's note), the obsolescence of part of the buildings, teleworking, the necessary densification of the city (…) constitute a context particularly favorable to the development Transformations of non -residential buildings into housing, ”recall the authors.

brakes

but important brakes exist, in particular the fact that a building building "generates more tax revenue while weighing less on local public services".

In addition, these operations are more expensive than largely majority destruction-construction operations. Investors will have to "initiate more expensive technical studies, to which are added risks of greater unforeseen events, the possible presence of asbestos, different standards, loss of areas, etc. ».

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For the IPR, it is possible to "double" these conversions in the short term, with support for the sector.

Between 2013 and 2021, 1,900 dwellings were authorized each year in retraining of activity buildings in Ile-de-France. Two-thirds of the conversions are in Paris and in a small crown, especially due to the high price per m² which makes these operations more profitable.

In addition, 36 % of the accommodation was converted into residences with services, mainly in student residences or social vocation residences.

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