LThe fall continues for new real estate. Only around 18,000 homes have been reserved for the second quarter of 2023, according to latest data from the Ministry of Ecological Transition, a level 18% lower than that known in the second quarter of 2020, “at the height of the effects of the Covid epidemic”…
However, these figures could rise again in 2024. At the beginning of October, the government revised the ABC zoning, which classifies municipalities according to the relationship between housing supply and demand. This zoning makes a town eligible or not for Pinel, a tax aid system for rental investment in new properties: only the most “tense” municipalities can benefit from it, those classified A, A bis or B1. Pinel thus became accessible in 153 new municipalities.
Furthermore, around fifty other municipalities which were already eligible for Pinel in B1 have accessed class A, more interesting for owners, insofar as the fixed rent ceiling is higher – this is also the case for income maximum tenants.
A measure welcomed by the Federation of Real Estate Developers (FPI), which nevertheless recalls, through its president, Pascal Boulanger, “that it alone will not make it possible to revive the construction sector”.
Ski resorts
The new zoning should especially benefit investors tempted by new housing in cities like Toulouse or Bordeaux, classified B1 just a few weeks ago. By accessing zone A, the rent ceiling authorized for the rental of these accommodations increases from 10.93 euros per square meter to 13.56 euros.
“In terms of rental profitability, this difference can push an investor to take action. A one-bedroom apartment in Bordeaux of 47 square meters located near the station sells for new properties for around 249,000 euros. Thanks to the transition from zone B1 to zone A, the investor’s gross profitability will increase from 2.84% to 3.56%.calculates Franck Vignaud, director of the Real Estate Laboratory.
In municipalities accessing zone B1 or A, however, investment opportunities will not be numerous, estimates David Regin, commercial director at Consultim Partners: “The market is so blocked that few developers will launch operations in these territories. We will mainly be working on small programs of around twenty lots where the developer already has land in stock and excellent relations with the mayor. »
For the three municipalities moving from zone C to zone A, vigilance is required. The latter are ski resorts where new property prices are already very high. In Samoëns (Haute-Savoie) for example, according to data from Yanport, a specialist in real estate data, the prices of new homes are estimated on average at 6,609 euros per square meter. Prices far too high to make this type of investment profitable, given the rent ceilings in Pinel, even in zone A.
You have 50% of this article left to read. The rest is reserved for subscribers.