How can we keep young people in Martinique or encourage them to return? Action Logement has come up with a new tool: a loan of up to 50,000 euros at 0% or close to it. The initiative is already underway, with 100 applications approved out of the 500 mortgage loans that will be granted. To celebrate this milestone and sign an agreement, Crédit Agricole and Action Logement met on Friday at the bank’s offices in Fort-de-France.
Action Logement and Crédit Agricole celebrated the 100th «Jeune Actif» loan on Friday at the bank’s headquarters in Foyal. “In light of the rapidly aging population in our region, Crédit Agricole, as a major player in the region’s economic development, aims to help identify and implement solutions to make Martinique more attractive to its young people,” explains Thibault Reversé, CEO of Crédit Agricole. This mortgage loan aims to reduce barriers to homeownership for young working adults residing in Martinique through Action Logement, the government, and the bank.
«We need resources from Action Logement and the bank to coordinate and put together the applications.»
This partnership should serve as a catalyst for growth and create value for stakeholders in the housing sector.
In fact, INSEE reports that as of 1er As of January 2025, Martinique’s population is estimated at 355,500. However, the population decline continues, and the region has lost an average of 0.7 % of its population per year over the past decade. In ten years, the island has lost 25,400 residents—the equivalent of the combined populations of the municipalities of Schœlcher and Le Diamant.
Thus, since the end of June 2024, an agreement has been in place with the government and the CTM. The Action Logement group is providing a 50,000-euro loan at a near-zero interest rate (0.5%) over a 25-year term to young people under the age of 40, whether they work in the public or private sector. This is available regardless of income. The loan is guaranteed by the government.
«Today, we have expanded this offering through a non-exclusive partnership with Crédit Agricole so that they can provide additional solutions to supplement these 50,000 euros. The goal is to make it easier for first-time homebuyers under the age of 40 to purchase a home.»
, says Olivier Ricot, CEO of Action Logement Services. The program is limited to 500 applications over three years. Action Logement has allocated a budget of 25 million euros, of which 5 million euros have been disbursed since the program began. This is a unique initiative in France.
«It's up to us to prove that it works so we can see if it can be replicated in other regions.»
The stated goal of this initiative is to address the aging population, help young people put down roots in Martinique, and encourage them to return home. «This agreement with Crédit Agricole is the result of exceptional collaboration among the various parties.»
The signing of this agreement and the granting of 100e «This loan represents »a moment when the efforts of the Action Logement teams, on the one hand, and those of Crédit Agricole, on the other, come to fruition,'" adds Olivier Ricot. He notes that the French overseas departments and regions (DROM) are a matter of vital importance for Action Logement, a joint-management group.
«Celebrating this 100the »This loan demonstrates the success of this program. It is by working together that we achieve cohesion."
, explains Nadia Bouyer, CEO of Action Logement Groupe, who says she is very proud of the work that has been done. And this 100e The case turns out to be that of Jérémy Thomin. The young man from Foyal is benefiting from a boost from Action Logement with this loan at 0.5%. He estimates this saves him several dozen euros a month. «I came across an ad and saw this program, which I found interesting.» He also highlights the short processing times, which allow him to respond quickly to purchase offers.
For Prefect Etienne Desplanques, solutions must be found for these young people who are leaving the island. «According to INSEE, 2,500 people return to Martinique each year. Young people are indeed coming back. We just need to know how to listen to them. This policy to encourage their return is innovative,» he concludes.
Laurianne Nomel
