Rental real estate: the purchase price drops from 15 to 18% thanks to this new tax advantage

The Pinel rental investment system ended on December 31. But “there is a solid alternative”, still unknown, assures the president of the federation of real estate developers.

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The Pinel was removed on December 31, 2024, without a new devicerental investment In new residential real estate succeeds him, unheard of for 40 years. But “There is a solid alternative to Pinel”which allowed private investors to obtain a tax reduction in return for the commitment to rent their property at a price lower than that of the market, to persons whose reference tax income did not exceed certain ceilings, assured Pascal Boulanger, president of the Federation of real estate developers (FPI), during its last conjuncture point on February 13.

This alternative to Pinel is the opening of the investment in intermediate rental housing (LLI) to individuals, provided for by the finance law for 2024, while this segment was previously reserved for institutional. A device “Again unknown But who checks all the boxes to become a real lever ” Investment in new, insists Pascal Boulanger.

A reduced VAT rate on the purchase of new housing

Halfway between the HLM and the private park, the intermediate rental accommodation is characterized by rents lower than 15% to private marketas was the case as part of the Pinel. It aims to help the middle classes to find accommodation in tense areas, where the demand for housing is much higher than the offer. “The LLI is particularly virtuous because, unlike other rental investment systems, it allows you to build housing where there are really needed, that is to say in tense areas A, A bis and B1, and in cities or buildings with at least 25% social housing. The resource and rent ceilings also guarantee access to this type of accommodation for modest households »estimates Christine Daric, associated lawyer at BCLP.

What are the advantages of LLI for investors? “Since the finance law for 2024, the intermediate rental housing regime, which provides VAT of 10% instead of 20% On these dwellings and the granting of a corporate tax credit which compensates for the payment of the property tax for 20 years, has been extended to any legal person, whatever their mode of detention “explains the lawyer.

A reduced purchase cost from 15 to 18%

“While, in the case of Pinel, investors had a tax advantage each year for a determined rental period (6, 9 or 12 years), with the LLI, they havean immediate advantage As soon as the accommodation is acquired ”develops Stéphane Aubay, president of Greencity Immobilier, one of the members of the FPI who began to develop the LLI for individuals.

Indeed, VAT reduced to 10% on the purchase of housing in LLI, coupled with less demanding surface standards than Pinel+ (the latest version of the Pinel) and lower material costs, due to lighter environmental standards than Pinel+, “Allows lower the purchase price of new accommodation from 15 to 18%»»figure Stéphane Aubay. “This is the first time that we have sold cheaper rental investment than home ownership, it is subject to 20%VAT”underlines the leader.

The obligation to create an SCI

But, in addition to the commitment to rent their property for at least 15 years, “Individual investors can only benefit from the LLI by creating a company, generally a SCI (Real estate civil society) at IR (income tax), the simplest of legal persons ”point Christine Daric. “It is easy to do on the Internet”says Pascal Boulanger. Nevertheless, “To prevent the creation of an SCI braking private investors, Greencity Immobilier will take care of the necessary administrative procedures and associated costs. These are around 2,000 euros ”indicates Stéphane Aubay.

A financial effort for the promoter but “After the end of the Pinel, we absolutely needed another rental investment device because it is thanks to rental investors that we can pre-marketing 40 to 50% of our programs, a level below which banks do not give us the financial guarantee of completion which allows us to start the site”explains the boss of Greencity.