The France SCPI platform estimates 4.26%* the annualized average distribution rate of SCPIs for the first 9 months of the year. Thanks to a recovery in yields in the third quarter, this rate exceeds that of the first 9 of last year (4.20% as of September 30, 2021). ” This performance once again obliges the anti-stone-paper to admit the great resilience of the Civil Real Estate Investment Companies “, welcomes Paul Bourdois, co-founder of France SCPI.
Knowing that the distribution of dividends is traditionally cautious at the start of the financial year before benefiting from a positive rebalancing at the end of the year, Paul Bourdois expects a 2022 distribution rate at least equivalent to, or even higher than, that of 2021 ( 4.49% gross of foreign taxation). We could therefore exceed 4.5% this year and return to levels higher than 2019, which remains the benchmark year before the health crisis.
Logistics and diversified at the top of the podium
SCPIs dedicated to logistics and business premises have posted the best performance since the start of the year, at 5.4% on average. ” These players realize, however, that the depth of the French market for this type of asset may be reduced and are now opening their hunting grounds to Europe to seize new high-yield investment opportunities. “, observes France SCPI. Diversified SCPIs continue to perform very well, posting an annualized payout rate of over 5.2%.
The office remains in the average at around 4.3% and SCPIs oriented on businesses rise to 4.6%. France SCPI also highlights the revenge of SCPIs specializing in the hotel industry. After two years complicated by the health crisis, these vehicles dedicated to tourism now serve a yield of 4.53% higher than the sector average. ” These are therefore gradually finding their place in the landscape of SCPIs and once again becoming a way of diversifying your portfolio while boosting your performance, exactly as in 2019. “says Paul Bourdois.
collection record
France SCPI is also expecting a record inflows this year (we are already almost at the level of 2021 over only 3 quarters), with SCPIs attracting ever more savers looking for reassuring and tangible investments offering some protection against the inflation without exposing themselves to a lot of risk.
Paul Bourdois also considers that the rise in borrowing rates does not yet constitute a brake on the financing of SCPIs on credit. ” An important vector of investment, one could imagine that this rise in rates would slow the influx of savings into paper stone, but the leverage effect of credit still seems relevant. We will probably see a rate-related slowdown in inflows in the first half of 2023 “, he analyzes.
* France SCPI specifies that among all the management companies, AEW Ciloger, Amundi, Atream and PAREF Gestion did not wish to disseminate their performance figures. These have therefore been extrapolated on the basis of the year 2021 and the evolution of all the SCPIs on the market for the first 3 quarters of the year 2022.