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Housing, François Ruffin

Social housing: 200,000 public homes with regulated rents a year

Direction of change: increase, compared with current law.

The lever. Construction of social housing: annual target, or obligations imposed on municipalities (loi SRU). Direction rule: ↑ more social housing, tougher obligations.

« La production massive de logements publics — à loyer réglementé — permettra de répondre aux besoins des mal-logés, des 3 millions de ménages en attente de logement social, et plus globalement de ramener les prix à la baisse. L’objectif est donc de produire chaque année 200 000 logements, dont 40 000 spécifiquement pour les étudiants et les jeunes travailleurs. […] Un retour à la situation d’avant 2018 (soit +2 à 3 milliards d’euros par an) est nécessaire à court terme et devra être amplifié progressivement. Cet effort pourra notamment être financé par la fin des avantages fiscaux aux multipropriétaires, en particulier l’abattement sur les plus-values immobilières. »1

Translation by the editorsThe massive production of public housing — with regulated rents — will make it possible to meet the needs of the badly housed, of the 3 million households waiting for social housing, and more generally to bring prices down. The objective is therefore to produce 200,000 homes each year, including 40,000 specifically for students and young workers. […] A return to the situation before 2018 (i.e. +2 to 3 billion euros a year) is necessary in the short term and will have to be gradually stepped up. This effort could in particular be financed by ending tax advantages for multi-property owners, in particular the allowance on real estate capital gains.

Encoding

ParameterCurrent lawProgrammeEffective date or horizon
Social housing units financed per year99,000 homes per year200,000 homes per year (assumption by the editors, see the costing)full year 2032, €bn/year

Costing

Announced by the candidate

amount not broken down

Amount announced with no readable annual amount for this position alone: « Un retour à la situation d’avant 2018 (soit +2 à 3 milliards d’euros par an) est nécessaire à court terme et devra être amplifié progressivement » [“A return to the pre-2018 situation (i.e. +€2bn to €3bn a year) is necessary in the short term and will have to be gradually amplified”] (public support for social landlords)

Published costings

none

No external costing of this position recorded to date.

Our calculation

−€1.6bn

per year for the public accounts, new spending, range −€1.7bn to −€1.4bn.

The calculation

  • Social housing units financed per year: (200,000 − 99,000) ÷ 10,000 = 10.1 times “10,000 more social housing units a year”, each a cost of €0.16bn (0.14 to 0.17).

Assumption by the editors. The candidate costs the short-term return to pre-2018 public support at « +2 à 3 milliards d’euros par an » [“+€2bn to €3bn a year”], to be amplified later, and finances it in particular by ending the allowance on real estate capital gains (“Tax and social security expenditures” lever, at least €3bn announced, not counted).

Coefficient calculated by the editors from AN, rapport spécial PLF 2026, Logement et hébergement d'urgence (F. Jolivet): the position is marked as an assumption by the editors.

Current law, sources and limits of the cost schedule

Current law. SRU act: 20 to 25% social housing. Solidarity rent reduction (RLS) levied on social landlords since 2018: €1.1bn in 2025, €1.3bn in the PLF 2026, with a compromise target in the Senate of €0.9bn. 99,000 social housing units approved in 2024, about 33,000 of them PLAI (very-low-income housing).

Horizon. full year 2032, €bn/year

Limits. Coefficient: the Institut Montaigne costs 135,000 additional social housing units per year at €1.9bn to €2.3bn (2.1 central) for general government, i.e. €0.14bn to €0.17bn per 10,000 dwellings (public subsidies of 8 to 9% of a construction cost of €156,000 to €172,000, increased for the RE2020 standard; editors' calculation). “Net” convention: these subsidies include those of Action logement, which is not a public administration; the source does not give its share and the page could not be re-checked in October 2026 (access refused): the coefficient is not net of it and therefore overstates the cost for general government. The reference pace is that of 2024 approvals (99,000); Montaigne started from 65,000 dwellings built. Not counted: the property tax exemption for 25 to 30 years, VAT at 5.5%, the interest rate advantage of loans from the fonds d'épargne (savings fund), land, the equity the State might have to provide (of the order of €2bn according to Montaigne) and the effect on VAT (from −€350m to +€350m depending on whether the dwellings replace or add to other construction). The 5 to 10% increase for the RE2020 standard, specific to the text costed in 2022 (Mélenchon), is applied as is to the other positions. FNAP bricks-and-mortar aid alone (about €5.5k per dwelling) would greatly underestimate the public cost. The RLS (rent reduction scheme) amounts differ according to the stage of the 2026 budget procedure (€1.3bn / €1.1bn / €0.9bn).

How to read these amounts. These are static costs and revenues, with no feedback effect, over a full year: nothing on growth, employment or the revenue that economic activity would gain or lose. A higher net cost does not on its own make a worse policy, nor net savings a better one: each programme rests on an economic model (demand-led stimulus, lower compulsory levies, consolidation of the public accounts…) that the cost schedule does not settle. GDP itself measures a volume of activity, not well-being or the usefulness of what is produced. Economic models and feedback effects.

This lever in the method · Costing for François Ruffin

  1. nouspresident.fr, cahier « Face à la crise du logement : faire sauter le verrou ». Read the programme page.

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