Since 1er January 2025, the French real estate sector enters a new era. The changes go beyond a simple revision of previous rules. They reflect a political will to strengthen ecological requirements and adapt the tax framework to an uncertain economic context. The ban on renting energy class G housing, for example, embodies this priority given to the energy transition. At the same time, major tax upheavals, such as the end of the Pinel system or the postponement of the Zero Rate Loan, are redefining the incentives for investors and households. Finally, the renewal of the “anti-Airbnb law” and the stability of notary fees complete this picture of reforms, where each measure shapes the delicate balance between the expectations of owners, the needs of tenants and environmental imperatives. These adjustments, far from being anecdotal, herald a profound transformation of the real estate market.
Towards a greener real estate stock
French real estate has reached a decisive milestone on an ecological level. Since 1er January 2025, energy class G housing can no longer be offered for rental. This ban, included in the Climate and Resilience law, aims to eliminate the most energy-intensive properties from the rental market. “G-rated accommodation can no longer be rented” precise an official note, a measure intended to reduce the environmental impact of the building stock and contribute to national climate objectives.
However, this reform creates major challenges for many owners. Around 17% of French housing is classified F or G, meaning that thousands of households will have to undertake often costly renovation work to comply with the new requirements. Although the MaPrimeRénov' system remains available to financially support these initiatives, its operation in 2025 remains uncertain, as specific adjustments have yet to be specified. This lack of clarity could complicate work planning for owners, which would limit their ability to anticipate costs and deadlines.
Tax reforms and economic implications
The French political scene, marked by tensions and upheavals, has strongly influenced the tax reforms initially planned for 2025. Thus, the abolition of the Pinel system, effective since December 31, 2024, is one of the most relevant examples. This mechanism, which aimed to encourage rental investment in new properties, constituted an essential financial lever for many investors. Its disappearance leaves a significant tax gap, which makes real estate investment less attractive in certain sectors.
Added to this elimination is the postponement of the expansion of the Zero Rate Loan (PTZ), a measure intended to facilitate access to property. This gap particularly penalizes first-time buyers, who see their projects delayed or even compromised. Such a delay is part of a dynamic of revision of budgetary priorities, where the ecological emergency seems to have eclipsed other concerns.
On the other hand, certain legislations such as the “anti-Airbnb law» were confirmed despite government reshuffles. This measure, intended to regulate short-term rentals, responds to critics who claim that they contribute to rising rents and the scarcity of housing available for traditional tenants, particularly in large metropolises. Although it is welcomed by tenant associations, it causes concern among owners who use this economic model as a source of additional income.
In this context of upheaval, a certain stability is still preserved. Notary fees, often considered a financial obstacle during real estate transactions, will not increase in 2025. This maintenance constitutes a reassuring point, although modest, within a real estate landscape in full reconfiguration.
The reforms introduced in 1er January 2025 redefine the contours of the real estate market, which oscillates between constraints and new opportunities. On the one hand, ecological measures aim to make the rental stock more sustainable, but they require significant investments for owners. On the other hand, tax adjustments, such as the end of the Pinel system and the postponement of the PTZ, reflect a desire to rebalance the market and limit certain levers of access to property. Faced with these transformations, it is fundamental that players in the sector adapt quickly to overcome immediate challenges and fully exploit the prospects offered by these new dynamics.
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