Loi Pinel : dispositif clos depuis le 31/12/2024
What is this scheme?
The Pinel scheme was a tax reduction for investment in new or off-plan housing located in tense zones (A bis, A, B1). The reduction rate was 12%, 18% or 21% of cost price for 6, 9 or 12 years of commitment, capped at EUR 300,000 and EUR 5,500 per square metre. Since 1 January 2025, the scheme is definitively closed for NEW acquisitions. Contracts signed before this date continue to produce their effects until the end of their commitment (potentially up to 2036).
Eligibility requirements
The scheme was reserved for: - New or off-plan housing. - Zones A bis, A, B1 (tense zones). Zone B2 was excluded progressively, then all non-tense territory. - Unfurnished rental commitment, tenant's main residence, 6, 9 or 12 years. - Rent caps (zone-dependent) and tenant income caps to be respected. No new subscription possible since 1 January 2025.
Tax advantages
For investors already engaged before 31/12/2024, advantages remain valid: tax reduction spread over the commitment, capped at EUR 6,000/year maximum (21% over 12 years of EUR 300,000 / 12). The scheme remains cumulative with déficit foncier on charges not linked to the Pinel investment.
Drawbacks and limits
For new investors: no possible access. For already engaged investors: constraints remain in force (rent caps often below market, tense zones sometimes saturated, long commitment of 6-12 years with sanction in case of early resale). The end of the scheme marks a political will to recentre tax savings on renovated old stock (Denormandie) rather than new build.
Who is this scheme suited for?
Pinel no longer suits anyone for a NEW investment (scheme closed). For ALREADY engaged investors: continue the program to receive the full tax reduction (12 years maximum) before being able to resell or change regime. Investors who were looking for Pinel should turn to: Denormandie (renovated old in ACV/ORT zone), LMNP at real (furnished), déficit foncier (old to renovate), or simply classic investment in unfurnished or furnished rental.
Quantified example
Typical case of an investor engaged in 2023: new flat in Nantes at EUR 250,000 (cost price), commitment 12 years, Pinel tax reduction 21%. Total reduction: 250,000 × 21% = EUR 52,500 Spreading: EUR 5,250/year for 6 years, then EUR 4,375/year for 3 years, then EUR 1,458/year for the last 3 years. The investor continues to receive these reductions until 2034-2035 according to the schedule. The end of the scheme on 31/12/2024 does NOT call into question this existing commitment.
How does it compare to other schemes?
Pinel being closed, alternatives in 2026 are: - Denormandie: same principle as Pinel but on renovated old in ACV/ORT zone, same 12/18/21% rates. It is the natural successor. - LMNP at real: furnished rental with depreciation. More powerful for current rental properties. - Déficit foncier: to transform works into immediate tax saving. - SCI under IS: for large portfolios with depreciation and corporate tax. Use the Buy&Rent comparator to identify the best alternative according to your profile.