Through Olivier Cheilan |
invest.fr |
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The year 2021 should still show good returns for the “stone-paper”, little impacted by the health crisis. The France SCPI platform predicts a year 2022 also under the best auspices.
SCPI: up to 7% for the best returns of the year 2021 | Photo credit: Shutterstock
The France SCPI distribution platform assesses the average 2021 return of SCPIs at 4.31%. This is a tiny bit less than the estimate of the online savings platform Linxea, which recently announced 4.42%, knowing that these data are still provisional because complete data from some SCPIs is missing. Either way, paper stone dividends are back to a level comparable to 2019 (4.40%) before the health crisis after falling to 4.18% in 2020.
France SCPI observes a clear improvement in the dividends paid in the last quarter of 2021 and recalls that this catch-up was foreseeable because the managers have become accustomed to paying their partners a modest dividend until the third quarter to carry out a rebalancing in end of year.
France SCPI remains very optimistic about the future performance of SCPIs. ” An inflationary environment, low-paying passbooks, nervous stock exchanges and struggling euro funds, all the planets therefore seem aligned so that 2022 is the year of SCPIs. Only a presidential program unfavorable to real estate could bring shade to the table », declares Paul Bourdois, co-founder of France SCPI.
New yield calculation method
These yields are still calculated with the “Distribution Rate on Market Value” (TDVM) method which gives way from 2022 to “Payout Rate“. This rate will no longer be calculated as the ratio between the dividends gross of taxation for the year and the average price of the share over the year but on the subscription price on January 1 of the year in the general case of SCPI with variable capital The return will now have to be communicated gross of foreign taxation.
Some SCPIs are already communicating their 2021 performance with this new method, which makes it possible to display a better return for those who have increased the price of their share during the year. Novaxia’s SCPI with no entry fees Neo thus displays one of the best yields in the sector at 6.49%, a rate which does not take into account the revaluation of the price of Neo shares in the middle of 2021.
It should be noted that management companies wishing to mention an overall annual performance of the SCPI, i.e. the sum of the distribution rate for year N and the variation in the realizable value per unit (between year N and year N-1), must now use the “Global Real Estate Return” indicator.
To date, the best 2021 returns are to be found among diversified SCPIs with 7.1% for the young SCPI without entry fees Iroko Zen or 7.03% for Corum Origin.