Real estate: zero taxation and no risk of renting for rent with this little -known investment

Particular investors are looking for alternative investments in real estate, since the abolition of one of the main tax advantages of non -professional furnished rental.

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Professional organizations and associations hammered it at ENVI, what real estate investors wish above all, is tax stability. Last change of rules to date, brought by the finance law for 2025: the increase in taxation to the resale of non -professional furnished rental, thus deprived of one of its main tax advantages. “Since then, we have been facing an influx of investors looking for alternative investments in real estate”indicates to Capital Stanley Nahon, associate director at Renée Costes, a company specializing in “real estate monetization”.

Among the alternatives he offers to these individuals is the investment in bare ownership. Concretely, you buy the walls of an apartment but you have neither “usus” nor “fructus”. It is the usufructuary, from which you buy bare ownership, which has the right to live in the accommodation or rent it to draw rental income. In return, you benefit from a discount of “40% to 50%” on the value of the property by buying it, explains Stanley Nahon. For example, if it is worth 300,000 euros in full ownership, you will only pay 150,000 to 200,000 euros to acquire bare ownership. And you will not pay notary fees, around 7% to 8% of the value of the property, only on 150,000 or 200,000 euros, not on 300,000 euros.

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A light taxation

Another advantage of the investment in bare ownership, you will not pay the property tax or the co-ownership charges, the usufructuary by being liable. It is still he who will have to carry out the menus work in the accommodation and the condominium. The heavy work, on the roof, the walls and the structure of the building, are however at your expense. Furthermore, as you do not receive rent, you are not subject to property income tax. And if you are liable for property wealth tax, it will only apply to the share of the bare ownership of the property, that is to say on 150,000 to 200,000 euros in our example.

Nude-owners sellers are generally retired, in search of an immediate back to school to reimburse a credit or make a donation, buyers obtain full ownership of the property after fifteen years, on the death of the usufructuary. The buyer can then decide to rent the property, to ensure an additional income. Or resell it, with added value since it gives in 100% of a property from which it has acquired 40% to 50% and has passed about 15 years since the purchase, which allowed the good to gain value. As “The resale comes after a fairly long period of detention, we benefit from abatements on the taxation of the capital gain”, Add Stanley Nahon. “By investing in bare ownership, you are not the subject of any taxation throughout the construction of the operation. And, if you choose to resell, the taxation is light “summarizes the expert.

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Buy bare ownership in new or old

It is also since the increase, about seven years ago, of the general social contribution (CSG) and the contribution to the reimbursement of social debt (CRDS), to which the income of the heritage is, that Stanley Nahon has seen the interest of investors for the bare ownership. Investors all the more interested since bare ownership, by nature, presents no risk of rent or rental vacancy. “When you buy bare ownership, the usufructuary has already lived in housing for years, it will continue to maintain it well, this represents a very secure framework for the investor”underlines Stanley Nahon. He notes “Lots of interest in bare ownership on the part of expatriates”who often live far from the place where they invest and for whom rental management would therefore not be simple, but also “From investors scalded by rent unpaids and housing degradations”.

To invest in bare ownership, forget Seloger and others. It is not on the classic real estate advertising platforms that you will come into contact with sellers of bare ownership but through specialists in real estate monetization. Note that there are two ways to buy bare ownership. In the old one, with a retiree who wishes to keep only the usufruct of his property, or in the new. In the latter case, you buy from a promoter and the usufructuary is a social landlord, who hires for 15 to 20 years. “The depth of the offer is more important in the old and you can get full ownership of the much faster than in new, depending on the life expectancy of the usufructuary”estimates Stanley Nahon.