“I look forward to constructive discussions on the creation of a tax status of the private lessorduring the examination of the 2026 budget by the National Assembly in public session, one day perhaps…”quipped Horizons MP François Jolivet this Thursday, November 6, during the examination of the second part of the finance bill (PLF) by the Finance Committee of the Assembly. It must be said that this project of creating a sustainable tax status for rental investors continues to play the Arlésienne. Requested by owners’ associations and federations of real estate agents for around ten years, it has finally been included in the PLF for 2026 via a government amendment.
But this amendment, placed after article 12 of the PLF, has still not been examined by the National Assembly in public session, the deputies having had to interrupt their work this Monday, November 3 to look at the Social Security financing bill. They must resume examination of the PLF on Wednesday November 12 and vote on it on November 24. During a meeting with journalists this Friday, November 7, Vincent Jeanbrun, Minister of Housingsaid “hope” that his amendment can be examined “between November 13 and 17”. There is urgency because, between the surge in property taxes, rent controls and other regulatory constraints, “individuals are turning away a little more every day from investing in real estate”recognizes the minister.
Real estate: MPs make it easier for you to pay your loan interest by… your employer
Reach a compromise on the depreciation rate
Just as he admits that his amendment, which would allow, for any rental investment in new properties made from January 1, 2026, to deduct from rent 2% of the value of the property each year, according to the amortization mechanism, “does not constitute a sufficient shock to invest in stone”. This depreciation rate of 2% is in fact much lower than the 5% for new buildings and 4% for old buildings recommended by the Daubresse-Cosson parliamentary mission. Vincent Jeanbrun is rightly banking on “the parliamentary debates which will resume on the PLF” to reach a compromise.
Judging the government copy “not up to expectations”François Jolivet has in fact tabled an amendment proposing a depreciation rate of 3.5% for new goods. His colleague Mickaël Cosson (Les Démocrates) defends an amendment providing for a depreciation rate of 4% in new buildings and 3.5% in old buildings. That of Salvatore Castiglione (Libertés, independents, overseas and territories) establishes rates of 3.5% in new buildings and 3% in old buildings, increased if the owner rents below market rents.
Nice VAT revenues for the State
To decide between these different rates, one of the justices of the peace will obviously be Bercy, taking into account the state of public finances. The fact remains that the shortfall in tax revenue linked to the creation of the private lessor status will be felt “long term”nuance Vincent Jeanbrun. Above all, this measure would generate “nice immediate VAT revenue for the State”underlines the Minister of Housing. The Daubresse-Cosson report estimates the number of new housing units built each year at 40,000 thanks to private landlord status. Gold “the State collects 40,000 to 50,000 euros of VAT on each home sold»figures the minister. A simple multiplication gives 1.6 billion euros in annual VAT revenue. For the lower end of the range, what’s more…
