รายละเอียด Insights

Buying real estate without a significant down payment is an increasingly difficult challenge, especially for first-time buyers. While mortgage rates continue to exceed 3%, and new property prices remain high despite the crisis, the government is expanding access criteria for the zero-interest loan (PTZ) starting April 1st, 2025. A new development that relates to two lesser-known schemes, allowing for the purchase of a home at a lower cost and spreading out its acquisition. In a context where the lack of personal contribution hinders many households, co-acquisition could be an effective solution. This scheme, already tested by Crédit Mutuel Ark éa with its Duoprimo program, allows the buyer to fund a majority share of their property, while the bank covers up to 10% of the price. Such financial support stretches over a maximum duration of 10 years, after which the buyer repurchases the share held by the bank and becomes 100% owner of their home. From April 1st, this acquisition method can be financed through the PTZ, thereby facilitating access to housing for first-time buyers struggling to gather sufficient funds. How does co-acquisition work with PTZ? The government’s stated objective is clear: to reduce the financial barrier to homeownership. During the Mipim real estate fair, the Minister of Housing, Valérie Létard, justified this measure and explained that “the priority is to support households struggling with the current market conditions.” The integration of co-acquisition into the PTZ could indeed encourage more households to take the leap, providing them with a secure and gradual framework to finance their real estate project. The other alternative now eligible for PTZ is real estate dismemberment. This approach is similar to automobile leasing. The model is based on a simple principle: an investment fund buys a new property and then sells 50% to the buyer for a period of 25 years. Thus, the buyer only finances half of the total price, significantly reducing their initial debt. During this period, they have an option to purchase which allows them to regain full ownership when their financial situation permits. This solution, notably supported by the startup Neoproprio, offers a flexible and reassuring framework, with a usage right guaranteed by a notarial contract. The addition of this scheme within the PTZ framework opens new perspectives for households wishing to invest progressively. Through this type of financing arrangement, the government hopes to revive real estate buying in a market that is slowing down. However, these new mechanisms also raise questions about their actual accessibility: what will be the demand from banks? Will there be enough developers to offer these formulas? This decree, which specifies the income ceilings and financing quotas for the expanded PTZ, is expected within the next fifteen days, and should provide more clarity on the exact conditions for implementation. Such developments could mark a turning point for first-time buyers. With solutions tailored to current budgetary constraints , the government aims for a more gradual and inclusive approach to homeownership. It remains to be seen whether these schemes will appeal to banks and developers, and above all, if households seeking housing will take advantage of them.