The decree implementing the new zero-rate loan (PTZ) was published in Official newspaper on April 3, allowing the entry into force of the system announced in October 2023 by the Minister of the Economy, Bruno Le Maire. This loan aims to support access to property for households with modest and middle incomes. It allows you to acquire your first main residence and is granted subject to means conditions.
The zero-rate loan is interest-free, free and has a duration of 10, 15, 20 or 25 years with a deferred repayment period of 0, 2, 5, 8 or 10 years, during which the household does not pay any monthly payments. In recent weeks, banks have continued to distribute the old PTZ, while adapting their information systems to the future reform, which applies until December 31, 2027.
The main new feature is that the system no longer allows financing the purchase of a new individual house. The zero-interest loan is now refocused on first-time buyers buying a new apartment in a tight area or an old home with work in a relaxed area. HLM tenants purchasing their social housing are also affected. “All assistance for homeownership is welcome, but it is a shame to exclude new individual houses, which many buyers dream of”underlines Ludovic Huzieux, co-founder of the broker Artémis courtage.
29 million eligible tax households
Among the other modifications that have come into force, we note the revaluation of income ceilings and the creation of a fourth tranche, these measures aiming to increase the number of households potentially affected. In October, the government estimated that 29 million tax households were eligible for the new system, compared to 23 million in its previous version.
This number should increase: Bruno Le Maire and Guillaume Kasbarian, the minister responsible for housing, announced on March 22 the reclassification of 800 municipalities in tense zones from the month of June, which should expand the number by an additional 1.8 million. number of French people eligible for PTZ.
“We are not expecting a tidal wave. The new system should benefit 40,000 households in 2024 according to Bercy forecasts, compared to more than 60,000 in 2022., However, specifies Maël Bernier, spokesperson for Meilleurtaux. Higher prices than in existing properties, coupled with the rise in traditional property loan rates, do not favor purchasing new properties. “Young first-time buyers on a tight budget buy mainly in relaxed areas, in old buildings, so they are not in the PTZ target”, deciphers Maël Bernier “and those who buy a new apartment in a tense area generally have income higher than the ceiling of the system”.
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