Remuneration ceiling linked to the intermediation of tax-exempting real estate: the professionals warn the government§
Our organisations wish to react and express their concern following the integration of the amendment introduced at the Senate in the finance law for 2018, which aims at putting a ceiling by decree on the remuneration of intermediaries in the framework of the Pinel tax-exempting sales.
This amendment has been initiated by The Republicans party Senator Albéric de Montgolfier. The stated objective is to fight against the “abuses” and the misappropriation of the fiscal advantage during an investment by abnormal distribution margins. The desire seems to be to put a ceiling by decree on the remuneration rate at around 5% without being able to understand in reality what the aimed remuneration exactly covers.
The amendment was presented mid-December. Not a single professional organisation from asset management or traditional real estate, not even the CNTGI (Conseil National de la Transaction et de la Gestion Immobilières), the obligatory consultative body imposed by the recent ALUR (Accès au logement et urbanisme rénové / Access to Housing and Urban Renovation) law and not a single real estate actor was solicited before the proposal of the amendment, which will without any doubt call into question the ecosystem of new real estate. However, at this time, the Finance law is voted and promulgated.