The Denormandie law

18 January 2019

New investment tax system in rental real estate, the Denormandie Law is applicable in France since January 1, 2019.

The Denormandie Law applies to the purchase of old real estate with a lot of work to do (at least 25% of the total cost of the operation) between January 1, 2019 and December 31, 2021. The property must be located in a city whose center need rehabilitation.

Depending on the owner's lease term, the amount of the tax reduction will vary between 12%, 18% and 21% of the total cost price of the property (purchase price + notary fees + works). The tenant must respect conditions of income and resources. The rent will be capped according to the surface of the housing. Finally, the housing must be the main residence of the tenant.


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