Going back through our own older posts recently, we realised one of them was quietly wrong: the piece we’d written years ago explaining “the Pinel law” as something you could still use today. You can’t, not anymore, and we’d rather correct that plainly than leave an outdated article standing. The scheme that shaped so much new-build investment on the Riviera for over a decade closed its doors to new buyers at the start of 2025.
The Pinel tax reduction scheme ended definitively for new purchases on 1 January 2025; owners who bought before that date keep their existing tax benefits under the terms they originally signed, but anyone investing today needs to look at a different set of options. Several of those alternatives, LMNP, Denormandie, déficit foncier and a newer scheme sometimes called Jeanbrun, now fill the gap Pinel left behind.
In short:
- No new Pinel investment has been possible since 1 January 2025.
- Existing Pinel commitments continue exactly as agreed at signature, for the remaining years of the rental engagement.
- The closest replacement for long-term unfurnished rental is a new scheme known as Jeanbrun (Relance Logement), based on amortisation rather than a straight tax reduction.
- LMNP, Denormandie and déficit foncier remain valid routes depending on the property and your own tax situation.
What the Pinel law actually was
For anyone who bought under the scheme, or is trying to understand a property they inherited, Pinel offered a tax reduction in exchange for a rental commitment on a new or fully renovated property. The reduction scaled with how long you agreed to rent the place out: 12% of the purchase price for a six-year commitment, 18% for nine years, 21% for twelve years, up to a ceiling of 300,000 € invested per year and 5,500 € per square metre. On a 300,000 € investment over twelve years, that could mean a tax reduction as high as 63,000 €.
Rent and tenant income were both capped under the scheme, with ceilings that varied by zone, roughly 10 to 17 € per square metre depending on location, and a version adapted for French overseas territories offered somewhat more generous rates, up to 32% over twelve years. If a tenant left during the commitment period, the owner had one year to find a replacement without losing the tax benefit, and reselling before the end of the engagement triggered a clawback of the reductions already received.
Why the scheme closed and what replaces it
Pinel was extended several times after its original end date, each time in a narrower form, before the government let it lapse for good. From 1 January 2025, no new Pinel investment is possible anywhere in France, only properties acquired before that date continue under their original terms for the rest of their commitment period.
In its place, several schemes now compete for the same investor profile. The one closest in spirit to Pinel, informally known as Jeanbrun or the “statut du bailleur privé,” works differently: rather than a straight percentage taken off the purchase price, it lets an owner deduct an annual amortisation of the building’s value, typically based on around 80% of the acquisition cost, from taxable rental income. LMNP (furnished rental under non-professional status) remains untouched by Pinel’s end and stays a solid option for anyone comfortable renting furnished rather than bare. Denormandie targets renovation in select town centres, and déficit foncier lets rental losses from major works offset other taxable income.
| Scheme | Status in 2026 | Main mechanism |
|---|---|---|
| Pinel | Closed to new buyers since 1 Jan 2025 | Tax reduction on purchase price |
| Jeanbrun / statut du bailleur privé | Available | Amortisation deducted from rental income |
| LMNP | Available | Furnished rental, non-professional tax status |
| Denormandie | Available | Tax reduction for renovation in eligible town centres |
What this means if you’re buying on the Riviera today
If you’re weighing up buying an apartment in Nice, the honest starting point in 2026 is to stop searching for “the new Pinel” as if one single scheme will replace it, because it won’t. Which option fits best depends on whether the property is new or needs renovation, whether you’re comfortable with furnished rental, and how the numbers compare once amortisation or deduction rules are applied to your own tax bracket. It also depends on how the property fits within the wider legal framework for rental investment, worth reviewing in more detail if you’re new to the regulations around investing in real estate in France.
Frequently asked questions
Can I still buy under Pinel if I sign a reservation contract now?
No, the cut-off was based on the final acquisition date; any purchase completed from 1 January 2025 onward falls outside the scheme regardless of when the search began.
What happens to an existing Pinel commitment if I need to sell early?
Selling before the end of your rental engagement generally triggers a clawback of the tax reductions already received, so it’s worth checking the exact terms with a tax adviser before any early sale.
Is Jeanbrun as generous as Pinel was?
It’s built on a different mechanism entirely, amortisation rather than a flat percentage, so a direct comparison depends heavily on your income and the property’s value; a tax professional can run the real numbers for your situation.
We’re not accountants, and tax law in this area shifts more often than most people expect, what applied when we first wrote about Pinel years ago clearly doesn’t apply anymore. Anything involving a rental tax scheme deserves a proper conversation with a notaire or a tax adviser before you commit, this article is only meant to point you toward the right questions to ask.
Published in 2019, updated 29 July 2026.
Sources: service-public.fr, Anah, and industry summaries (Valority, Nacarat, Trackstone) on the end of the Pinel scheme and its 2026 alternatives.