Quick, a plan B! Following the drop in the rate of booklet A – from 2.4% to 1.7% – on August 1, many savers are looking for a spare solution to place their savings. Among the booklets, the popular savings book (LEP) remains the best alternative, but it is not open to everyone. Life insurance in euros funds also seems to collect the savings of the disappointments of the booklet A. Finally, civil real estate investment companies (SCPI) can also be an alternative.
This placement consists in acquiring shares of a company that will invest in professional real estate (offices, shops, logistics, etc.), to rent them, then manage them. Thus, according to the number of shares subscribed, part of the rents collected by the SCPI is donated to investors (or “associated”), generally all quarters. However, this investment displays a much more interesting yield than the A. Booklet A. According to the broker France SCPI, the average distribution rate (TD, equivalent of the yield) should come to 4.68% this year, on the basis of dividends paid to the associates in the first half.
A yield of 4.68% in the first half
An estimate which could however be revised slightly upwards: “Management companies that administer SCPIs tend to distribute more dividends at the end of the year. This is all the more true this year in an uncertain environment ”explains Paul Bourdois, co-founder of France SCPI. Thus, a distribution rate ultimately higher than that measured in 2024 (4.72%) is possible.
Despite these great promises, it should be remembered that this placement has nothing to do with a bank booklet like booklet A. If the latter presents no risk of capital loss, this is not the case for SCPIs, which display a level of risk certainly moderate, but which is not zero: SCPIs are generally noted 3 or 4 out of 7 on the risk scale. This return much higher than that of the booklet A is therefore explained by a higher risk taking.
Yields to be taken with tweezers
In addition, these two investments do not meet the same objectives, so they are not completely interchangeable. The booklet A is rather reserved for precautionary savings, allows to face the unforeseen events, with the possibility of withdrawing its savings at any time. Conversely, SCPIs are a longer term placement, with a recommended detention period which is rather between eight and ten years minimum.
With these elements in mind, if you still want to reallor part of the funds held on your booklet A to SCPIs, be careful not to trust only yields of the first half. According to France SCPI, 13 SCPIs, for example, display distribution rates above 7% after the first six months of the year. But among them, 10 were created in 2024. Also, as it is a long -term placement, “It is better to see if the SCPI has good profitability over time, so if it has done as well or better than the average regularly, over several years”advises Paul Bourdois.
Finally, remember, unlike booklet A, the yields displayed by SCPIs are given tax gross. For 100% French SCPIs, the income generated is indeed subject to income tax according to the marginal tax tranche (TMI, from 0% to 45%), to which are added social security contributions to the rate of 17.2%.
