2023-06-04 18:26:17
The Pinel tax exemption system should not be extended beyond the end of 2024. And no other system will replace it. The zero rate loan (PTZ) can no longer be used to build a house.
The revival of housing construction will pass neither through rental investment by individuals nor through the construction of individual houses. Elisabeth Borne must indeed present on Monday the main measures adopted at the end of the National Council for Refoundation (CNR) for housing. And we now know some of them.
Pinel is therefore in the hot seat. This rental investment scheme allows individuals to buy new properties with a tax reduction, provided that they practice capped rents. But the executive considers the Pinel expensive for a mediocre result. It therefore intends not to extend it beyond the end of 2024. And it will not be replaced by another device intended for individuals. This means that from 2025, there will no longer be any tax exemption tool of this type for individual investors. This will be a first in almost 40 years, since the establishment of a first device of this kind, the Méhaignerie in 1986.
Focus on institutions
This should not reassure real estate developers, for whom the Pinel often serves as a locomotive for their real estate projects. The government prefers to bet on institutions via another tool: intermediate rental housing (or LLI). “Intermediate housing is housing with regulated rents below market prices. They were created in 2014 with the aim of providing access to affordable housing in areas that are tight for the middle classes who do not have access to social housing. “, specifies the Ministry of Ecological Transition on his site. The government therefore wants to rely more on institutions for the construction of new buildings, while opening up the LLI to housing renovation.
However, in an environment of rising interest rates, real estate will automatically be less and less profitable for institutional investors. They have also already begun in recent months a shift towards other types of investments.
A PTZ extended until 2027 but refocused
Another major announcement: the zero-rate loan will be refocused. The PTZ must thus be extended until 2027, but with a refocusing on tense areas and for new collective housing. The PTZ will also be possible in the old building but under renovation conditions. In other words, households that used a PTZ to build their house will no longer be able to do so, especially on the outskirts of towns.
In addition, the executive intends to expand the Visale guarantee for unpaid rent, which today concerns around a million people. The goal is to cover 2.5 million people.
Matignon also wishes to revise the zoning of cities, and in particular to integrate more quickly into the tense zone category cities which are reindustrializing such as Dunkirk.
The government also wants to harmonize and flatten out taxation for furnished and unfurnished apartments and thus favor long-term rentals. But no details have filtered on this point.
Among the other measures announced, we can mention the monthly payment of the revision of the wear rate which will be extended (this mechanism was to end in July), and the increase in the ceilings so that more households can buy via the real solidarity lease. (with which one only buys the walls of a dwelling but not the land). Faced with these announcements, the professionals in the sector contacted by BFM Business are, to say the least, skeptical.
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