Real estate tax
optimization 2026.
LMNP, Denormandie, Malraux, property income deficit. Compare the active schemes over 6, 9, and 12 years. Pinel+ included for historical reference only (expired on 12/31/2024). Legal basis: French Tax Code art. 199 novovicies.
Tax optimization scheme
Marginal income tax bracket
Projection period
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Which scheme to choose based on your profile
Pinel+ 2024, new build in high-demand zones (expired 12/31/2024)
Historical information. The Pinel/Pinel+ scheme ended on December 31, 2024 (art. 199 novovicies of the French Tax Code). No new acquisition has been eligible since that date. Acquisitions completed before then continue to benefit from the reduction according to the original schedule. The simulator only returns a Pinel+ result for an acquisition date no later than December 31, 2024, as a historical reading.
Historical features: classic Pinel 2024, tax reduction of 9% (6 years), 12% (9 years), 14% (12 years); Pinel+, reserved for homes meeting the quality criteria, 12%, 18% and 21% over the same periods, which is what this simulator computes. Purchase price capped at 300,000 EUR and 5,500 EUR/m². Zones A, Abis, B1 only. Required an EPC class A or B rating and a minimum area of 45 m² for a 1-bedroom, 62 m² for a 2-bedroom.
LMNP - furnished rental in a residence or tourism unit
Two regimes, micro-BIC (flat-rate 50% allowance) or actual expenses (deduction of actual costs + property depreciation of 2-3%/yr + furniture 10%/yr). The actual-expenses regime often fully offsets taxable rental income for 10-20 years. French Tax Code art. 35 + BOI-BIC-CHAMP-40-20.
What the resale takes back
For disposals made on or after February 15, 2025, the depreciation deducted during the rental years is added back into the capital gain, raising it by the same amount. The non-professional landlord is still taxed under the capital gains regime for private individuals, like an unfurnished rental, holding-period allowances included; only the professional landlord falls under professional capital gains. The add-back does not apply to homes in student residences, residences for young people in training or for people over sixty-five, in social-care establishments including EHPAD nursing homes, or in long-term care establishments. Tourism residences are not excluded. French Tax Code art. 150 VB, source impots.gouv.fr.
Denormandie - existing city-center property + works
Similar to Pinel but for existing property with works ≥ 25% of total cost. Action Cœur de Ville municipalities or ORT agreement. Same tax reduction rates of 12/18/21% over 6/9/12 years. Cap of 300,000 EUR.
Malraux - protected heritage area
Reduction of 30% of the works in a remarkable heritage site covered by an approved safeguarding and enhancement plan, or of 22% in a remarkable heritage site covered by an architecture and heritage enhancement plan, or when the restoration is declared to be in the public interest. Expenses capped at 400,000 EUR over four consecutive years, up to 120,000 EUR in savings. French Tax Code art. 199 tervicies. Complete restoration of the building required.
Property income deficit - unfurnished ownership + works
Deductible works on an unfurnished rental property create a property income deficit offsettable against overall income up to 10,700 EUR/yr (French Tax Code art. 156 I 3°), with the balance carried forward over 10 years. Raised to 21,400 EUR per year for energy renovation works taking the dwelling from class E, F or G to class A to D, with the new rating evidenced no later than December 31, 2027.