Rental investment: this new system combines tax benefit and broken price

The Pinel rental investment system died on December 31, 2024. But there is a new form of new investment. It offers a tax advantage and a discount on the purchase price.

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More tax carrot, more private investors in real estate! The number of new housing sold asrental investment collapsed by 41% in the first quarter of 2025, according to the federation of real estate developers. A collapse that the FPI puts on the account of the abolition of the tax advantage Pinel, On December 31, 2024. For 10 years, this system has allowed individuals to obtain a reduction in their income tax, in return for their commitment to buy new accommodation to rent it for several years below market prices, to people with income not exceeding certain ceilings.

It is the first time in 40 years that a tax system for supporting private rental investment has disappeared without having been found a successor. However, there are “A new form of new investment”underlines the Icade Promotion group, in a press release published this Thursday, May 22. This is the Intermediate rental accommodation (LLI) for individuals. Halfway between the HLM and the private park, the LLI was created 11 years ago to facilitate the accommodation of the middle classes, too easy to claim the social park but not rich enough to accommodate properly on the free market. The LLI offers rents lower than 15% at market prices in so -called tense areas (A, ABIS, B1), characterized by a demand for housing much higher than the supply.

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An advantageous purchase price and a tax advantage

From 2014 to 2024, only legal persons were able to invest in the LLI. But the finance law for 2024 has it open to individuals. By purchasing intermediate rental housing, and therefore committing you to rent it subject to resources to a capped rent, you benefit from a rate of VAT of only 10%instead of 20%, on the acquisition of this property, and a tax credit which will compensate for the weight of your property tax for 20 years.

For example, for a T2 located in zone A, the market price is today 318,000 euros, based on the classic VAT rate of 20% for the purchase of new housing, illustrious Icade Promotion. As part of the LLI, with 10%VAT, the purchase price falls to 291,000 euros. Either An immediate saving of 26,500 euros for the buyer. As for the exemption from property tax, it represents a saving of 14,110 euros over 20 years, calculates the group.

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Obligation to create an SCI

This very recent device remains “Unknown”Icade promotion is suitable for it. It must be said that it requires creating a company, for example a Real estate civil society (SCI), in order to benefit from the status of legal person. An administrative and management complexity that can put off more than one particular investor. This is why Icade Promotion, in partnership with the chartered accountant-accountant Amarris Immo, offers rental investors interested in the LLI to support them in the creation of their SCI, then in its management during the first year, at a cost of around 1,700 euros. An offer quite similar to that deployed by its competitor Greencity Immobilier. Icade Promotion does not communicate any marketing objectives but “There is a market, as evidenced by the interest of banks and wealth management advisers, responsible for marketing this product with private investors”assures its general manager, Charles-Emmanuel Kühne. Adding that “The net profitability of the LLI for individuals is roughly equivalent to that of Pinel, around 3% to 3.5% ”.