Expansion of Zero-Rate Loan (PTZ): Six Million Additional French People to Benefit

2023-10-07 16:45:49

In a context of real estate crisis, Bruno Le Maire announced a relaxation of the conditions of access to the zero-rate loan (PTZ). Six million additional people might benefit.

A new avenue for dealing with the real estate crisis. The conditions of access to the zero-interest loan (PTZ) will be relaxed to allow six million additional French people to benefit from it, announced the Minister of the Economy, Bruno Le Maire, to the regional daily South West.

“Faced with the increase in interest rates, we will expand access to zero-rate loans (PTZ) by simplifying the scale and increasing the ceiling,” said the Bercy tenant. The project will be implemented in the coming weeks.

This announcement comes at a time when the real estate sector is being hit hard by the rise in interest rates initiated a year and a half ago by central banks and subsequently passed on by banks in their credit policy. Consequence: the French have difficulty borrowing to purchase a property.

“154 new municipalities will integrate tense areas”

The income ceilings not to be exceeded to be eligible for this state-assisted loan depend on the municipality of the property purchased. These are classified with letters, from A to C, reflecting the more or less strong imbalance between supply and demand.

“In addition, 154 new municipalities will integrate tense areas”, therefore classified A, “and will therefore be eligible for intermediate housing and the new PTZ from 2024”, explained Bruno Le Maire, specifying that this represented 4.5 million inhabitants .

The zero-rate loan, extended until 2027, allows households, mainly first-time buyers, to limit the cost of financing their main residence, in new buildings but also in old ones only if they commit to the realization works, notably by improving energy performance.

In addition to this system, Bruno Le Maire is considering the creation of a subsidized rate loan which should offer more attractive credit financing conditions than those on the market.

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