Home sweet home



Buy your home new, on plans - it is still the best way to acquire your dream place...

Buying a newly built (or to be built) house or apartment offers many advantages: it is the guarantee to benefit from significant savings in terms of energy consumption, manufacturer guarantees, reduced notary fees, latest quality and environmental labels, insulation and thermal performance, modern and secure equipment, low maintenance costs and not having to perform expensive works before long.

  • Comfort: buy new means ability to customize your home from floor to ceiling and it saves the costs of additional works. It is also the guarantee of enjoying functional and modern common areas. Nice finishes and latest technological equipment complete the picture.
  • Guarantees: 3 manufacturer's warranties protect the owners from possible defects and malfunctions: the guarantee of perfect completion (covers the repair of all the defects of conformity), the biennial guarantee (covers the possible malfunctions of equipment separable of the construction) and the ten-year guarantee (covers potential structural problems of the building itself).
  • Notary fees: they amount to about 2.5% of the acquisition price, against about 7.5% for older real estate.
  • Energy savings: the 'RT 2012' label sets consumption limits that must not be exceeded and has a direct impact on the efficiency and energy consumption of the building as well as comfort in non-air-conditioned buildings. It guarantees optimized exposure, sound and thermal insulation performance as well as environmentally friendly equipment using renewable energies. And if the consumption is reduced, the bills are reduced.

From customization to guarantees and reduced fees, from reduced energy consumption to environmental protection, new construction guarantees a particularly interesting investment!



As the name suggests, the interest-free loan allows you to borrow part of the price without paying interest. As for controlled prices, it allows future owners to buy a newly built (or to be built) home at prices lower than the market average, prices being subject to a ceiling (on the Toulouse region, these prices are about 20% lower than market prices).

Benefit from the Pinel law

Invest in new rental real estate and in return, enjoy a reduction in income tax. Up to 63,000 € tax reduction!


The Pinel law allows an investor who buys a new rental property in an eligible area to benefit from a tax reduction calculated on the amount of his acquisition. Naturally, many conditions must be respected to benefit from this advantage. They concern, in particular, the real estate (geographical area, construction standards), the rental conditions (amount of rent, lease commitment over 6, 9 or 12 years) and the tenant's situation (resources).
It should be noted that this system is subject to the overall cap on tax benefits (€ 10,000 / year). The calculation of the reduction also takes into account an investment ceiling.


The addition of the tax reduction obtained and the rents collected during the lease period plays a major role in the payment of the property itself.

To buy this house or this apartment, certainly you will have to provide a saving effort but thanks to:

  • the fiscal leverage
  • the rental leverage
  • the banking leverage (do not forget that borrowing rates are still extremely low)

this saving effort is minimized!


By buying a Pinel property, you develop your real estate assets and after a few years, you can:

  • Continue to rent the property to collect rents and therefore, additional income
  • Recover a large amount of capital by selling the property
  • Use the property for yourself as a primary or secondary residence

Investors initially had to be able to take advantage of this device for 4 years, until 2017. It generated such enthusiasm that the government, in its desire to support real estate construction, announced its extension until December 2021.


Subdivision of property rights

Are you ready to invest over a long period with a forward return on investment? So start with bare ownership!


The right of property on a property consists of 3 attributes: usus, fructus, abusus. Since they are owned by the same owner, the latter has his property in "full ownership". These rights can also be split; we then talk about subdivision of property.

  • Usufructuary: the one who owns the usufruct, be it the right to use the property and to collect the income, without having the right to dispose of it (to sell it).
  • Bare owner: the one who has the bare ownership, be it the right to dispose of the good, without being able to use it or to perceive the income.


A "lighter" investment for patient investors
To invest in bare ownership is to become owner at a lower cost because you only buy the bare ownership and you leave the usufruct to a lessor who manages the property for several years. And this subdivision is only temporary: eventually, you become the full owner of the property.
And because you will not enjoy your property for several years, it is normal to benefit from a sharp discount on the price. The longer the subdivision, the lower the price. We can thus expect on average a discount of 30 to 50% of the price, for a subdivision ranging from 12 to 20 years. The bare property allows to capture from the purchase, in the form of a price reduction, the equivalent of 12 to 20 years of rents, free from taxes.


Take the example of an apartment estimated at 200,000 € with a subdivision of ownership over 15 years. You buy the property for 60% of its value. The price to pay for bare ownership is therefore 120.000 €. This equates to an investment with a return of more than 3.5% net: no additional tax to pay, no risk of unpaid rent. And after 15 years, you are the proud owner of a property worth more than 200.000 €.


Can we freely dispose of a good whose property is divided?

Small reminder: the usufructuary enjoys the good either by living or renting it, in which case he receives the rental income. With rare exceptions, the prior consent of the bare owner will not be necessary to propose the property for rent.

With regard to the sale, 2 cases are to be distinguished:
• Usufruct created by an agreement (eg donation with usufruct reserve): the agreement may contain a clause specifying whether the usufructuary may or may not oppose the sale of the property.
• Usufruct created by law (eg inheritance): the civil code protects the usufructuary whose agreement is necessary to proceed with the sale. Even a judge can not order the sale of the property without his agreement. Failing agreement, the bare owner will sell his own right - the bare ownership - and the usufructuary will retain his rights to the property. To sell the property entirely to a single buyer, bare owner and usufructuary will sell their respective rights and each will receive a portion of the price.

NB: You can take advantage of the subdivision of ownership either through a direct acquisition or through the purchase of dismembered SCPI shares. Questions ?

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