There will be no Revolution (the title of his best selling program book) on the property market if Emmanuel Macron gets elected on Sunday, May 7th.
The candidate of the movement “En Marche!” is pleading for stability on the housing market. He repeatedly committed to bringing more stability to the fiscal and regulatory framework during his five-year term, once the first adjustments will be made. Indeed French and non French property owners and tax payers are complaining steadily of a non stop flow of new laws and of a permanent revolution in fiscal rules.
What should remain:
• Rent restrictions. Emmanuel Macron proposes to keep the system as it is while an evaluation is being made
• The Pinel tax reduction system for investors committing to letting a newly bought property for the next 6 years (unfurnished only).
• Taxation of capital gains.
What may change:
The candidate does not intend to change the legislation on rentals but nevertheless proposes a new type of rental lease more flexible (one year duration, less protection for the tenant) for persons on fixed-term or interim contracts.
Exemption of 80% of the households from paying the housing tax.
He also wishes to assess the Solidarity Tax on Wealth (ISF – Impôts Sur la Fortune) on the sole real estate assets and thus to exclude productive investments from the ISF base.
Mr Macron also wants to turn the tax credit for energy transition (ISCED) into an immediately available premium to pay for the works.
Wait (4 days left) and See..