Pinel scheme: ends on December 31, 2024, who still benefits from it?

No, it is no longer possible to invest in Pinel properties. The scheme ended on December 31, 2024: no new transactions are possible from January 1, 2025. Investments made between September 1, 2014 and December 31, 2024 continue to qualify for the tax reduction, as long as the conditions are met.

This page covers what remains applicable to a Pinel investor: the tax reduction, the rental commitment, what can jeopardize it, and the situation regarding moving abroad. It does not cover schemes still available in 2026, nor extensions of the commitment, which are each covered on their own page.

What the texts say

Three official sources agree on the dates.

• Service-public.gouv.fr, verified on 11/03/2026: "You can no longer make rental investments with the Pinel scheme since January 1, 2025."«
• Economie.gouv.fr, wrote on March 11, 2026: "The Pinel scheme ended on December 31, 2024." It applied to investments made since September 1, 2014.
• BOFiP (BOI-IR-RICI-360, version of 22/08/2024): the application period runs from September 1, 2014 to December 31, 2024.

For a purchased property, the acquisition date is the date of signing the authentic deed of purchase. For a property you are having built, it is the date the building permit application is filed.

If your reservation contract dates from before 2025 and your deed is dated 2025, this page does not address the situation. It will be verified in your file before any decision is made.

What is the Pinel reduction?

The Pinel scheme is an income tax reduction. It is available to taxpayers who have purchased and rented out, for a fixed period, a new or similar property. According to the French tax authorities (BOI-IR-RICI-360-40, § 90), the taxpayer must have been a tax resident of France at the time the investment was made.

Since January 1, 2021, only dwellings located in a multi-unit residential building are eligible for the reduction. Detached houses are excluded.

Zones A bis, A, and B1 are those used by service-public.gouv.fr and the BOFiP (BOI-IR-RICI-360-10-30, version of 22/08/2024). The BOFiP describes zones B2 and C as generally no longer eligible since January 1, 2018, except under a transitional arrangement. The ceiling tables on economie.gouv.fr still mention B2 and C "subject to approval." This discrepancy is not addressed here: the zone of your property and its eligibility are verified at the source, on your deed.

Rates vary depending on the year of investment

In mainland France, the reduction is calculated on the cost price of the accommodation.

The 2023 and 2024 rates apply to housing located outside priority urban policy areas and without a quality level exceeding regulations. For other housing, the rates of 12 % and 18 % remain unchanged in 2023 and 2024.

The tax credit is capped at €5,500 per square meter of living space and at €300,000 per taxpayer per year. The tax reduction applies to a maximum of two properties per year.

The tax reduction is applied in sixths or ninths, depending on whether the commitment is for 6 or 9 years. The Pinel scheme is also subject to an overall cap on tax benefits. The amount of this cap is not discussed here.

The conditions that still need to be met

To retain the discount, the property must remain rented under the terms of the agreement. Four points need to be understood.

• Available for rent. It must take place no later than 12 months after the completion or acquisition of the property.
• The tenant. The lease cannot be signed with a member of your tax household. An ascendant or descendant is permitted provided they are not part of your tax household. Their income must not exceed the limit.
• The rent. It is capped per square meter. The caps vary depending on the size of the dwelling and can be lowered locally.
• The pieces. According to the BOFiP (BOI-IR-RICI-360-50, version of 11/06/2015), a supplementary note outlining the rental commitment must be attached to the tax return for the year of completion or acquisition, along with a copy of the lease and the tenant's tax assessment notice. The required supporting documents are detailed in the instructions for the tax return for the relevant year.

Rent ceilings applicable to leases signed in 2026 in metropolitan France for zones A bis, A, and B1 (service-public.gouv.fr, verified on 11/03/2026). Ceilings for zones B2 and C are not included here due to discrepancies between sources for these zones.

Resources are assessed based on the 2024 reference tax income for a lease signed in 2026. Increases per dependent are not included here.

This calls into question the reduction

The BOFiP (BOI-IR-RICI-360-40) lists the situations that call the reduction into question:

• failure to comply with the rental conditions; ;
• the transfer of the property, whether for consideration or free of charge; ;
• the transfer of undivided rights; ;
• the division of ownership; ;
• the interruption of the lease for more than 12 months.

If the tax reduction is challenged during the commitment period, the tax due for the year of the event is increased by the full amount of the reduction obtained. Late payment interest and penalties may also be added. The challenge must be made no later than December 31 of the third year following the event.

The BOFiP (Official Bulletin of Public Finances) stipulates that the tax advantage is not revoked when the transfer of ownership results from the death of one member of a couple filing jointly. Transfers for consideration are subject to exceptions outlined in tax doctrine; these apply to your specific case.

You are leaving France: what happens to the discount?

The answer depends on the date of the investment. It matters for taxpayers who move abroad.

• Investment starting from January 1, 2019. Transferring your tax residence abroad does not invalidate the tax benefit. You can continue to deduct the tax reduction for the remaining years, against the tax calculated according to Article 197 A of the French General Tax Code (CGI). According to the French Official Tax Bulletin (BOFiP), the tax reduction is non-refundable. You must have been a tax resident of France at the time of the investment.
• Investment before January 1, 2019. Leaving France does not invalidate the benefit already obtained. During the years you are not domiciled in France, the tax reduction cannot be applied, and unused amounts cannot be carried forward. To extend the commitment, you must be a French tax resident in the year of the extension.

Regarding the extension of an investment made after 2019 following a move abroad, this page does not provide an answer: the case needs to be examined.

Numerical example (fictitious profile)

Situation. In 2024, Marc and Sophie purchased a new, two-room apartment of 48 m² in a multi-unit building for €230,000. The apartment is located outside a priority urban policy area and does not exceed regulatory standards: the 12% tax rate for 9 years in 2024 applies under these circumstances. They have committed to renting the apartment for 9 years. They are residents of France.

Issue. In 2026, they want to know what the reduction still brings them, and what would happen if the tax for a given year was less than the annual fraction.

Strategy. Reconstruct the tax base, the rate for their investment year, and the spreading of the tax, then compare the annual fraction to the tax for a given year. Any excess reduction cannot be carried forward or refunded.

Result.

With a 6-year commitment to 9 %, the total reduction would be €20,700, or €3,450 per year. If the first four installments had been fully applied before a breach of the commitment, the tax for the year of the breach would be increased by €12,266.67.

This profile is fictitious. The price of €230,000, the surface area of 48 m², the absence of a priority neighborhood or a higher quality rating, the tax of €2,000, and the four allocated fractions are assumptions. The calculation does not take into account the overall cap on tax benefits or the specific circumstances of any household.

What changes depending on your situation

• The year of your investment : it determines the rate.
• The choice of 6 or 9 years and the possible extension.
• Your tax each year : the reduction is applied to the progressive tax, before tax credits, and is not applied to taxes at a proportional rate.
• Your tax residence and the date of the investment, in case of departure abroad.
• The nature of the operation : new housing, housing to be built, SCPI units (acquired from January 1, 2013 to December 31, 2024 for the Duflot and Pinel schemes). An investment in SCPI units carries a risk of capital loss.
• The planned events : resale, donation, division of ownership or change of tenant.

No results are guaranteed. The outcome depends on your specific case.