Rent control, ban on renting out energy-intensive housing, rising credit costs… Rental investment has been an obstacle course for several years. And the abolition of the Pinel scheme at the end of 2024 risks dealing it the final blow. This scheme, which came into force ten years ago, allows individuals investing in new or renovated housing to benefit from a reduction in their income tax. In exchange, they grant their tenants rents that are 10% to 15% lower than market rates, to facilitate housing for the middle classes, whose incomes are too high to qualify for social housing but insufficient to find adequate private housing. The Pinel scheme thus finances the construction of so-called intermediate housing, whose rents are between those of social housing and those of the private sector. But this is a system with “very relative effectiveness, which justified its elimination on December 31, 2024,” asserts the resigning Minister of the Economy, Bruno Le Maire, in his response to a report from the Court of Auditors on Pinel, published this Thursday, September 5.
A report very different from that of 2018, in which the Court advocated the elimination of this rental investment scheme. First, the evaluation carried out by the Court of Auditors since the entry into force of Pinel in 2014 “shows that tenants correspond to the target aimed for by the scheme”. Indeed, the tenants that the Court consulted “expressed their (…)
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