(AOF) – The Artea group, a specialist in low-carbon real estate, recorded a turnover of 111.1 million euros in 2023, up 42% compared to 2022. All of the group’s activities are growing. The year was characterized by a continued diversification of sources of income with a contribution from the promotion activity which decreased to 75% (compared to 80% in 2022 and 89% in 2021) for the benefit of the two new pillars which are the Renewable Energy (9%) and Services (16%) activities.
Revenue from promotion activity increased by 32% to 82.9 million euros. Renewable energies recorded a 2.4-fold increase in activity to 10.3 million euros.
The group has signed a new Vefa with Immobilière Durable for 10.5 million euros for an asset located in Aix-en-Provence. This asset will be delivered during the first half of 2024.
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A demand crisis
According to data from the Federation of Real Estate Developers (FPI), the figures for the third quarter of 2022 continue to be alarming. Sales of new collective housing fell by 12.4% over one year, to 19,006 units. Over the first nine months of 2022, the drop reached 10.2%, to 72,670 units.
Reservations are also plummeting due to the collapse of block sales to social landlords and institutional investors. With interest rates rising, institutional investors are renegotiating or halting operations. First-time buyers are penalized by the rise in rates and the tightening of the Pinel system puts off certain private investors.
Due to the sharp rise in construction costs, the FPI estimates that one in six authorized operations is ultimately not carried out for economic reasons.
Faced with this, prices are still rising: the sales prices of new collective housing increased by 5.9% across France in the third quarter of 2022. Ile-de-France is an exception, with a decrease of 0. 9%.