A real estate investment in 2024 is primarily guided by three filters: the energy performance of the property, financing conditions, and the local regulatory framework. Ignoring any of these filters exposes one to a depreciation at resale or a degraded rental yield. Here are the real estate trends that are truly influencing purchasing decisions this year.
EPC and property depreciation: energy classification now sets the price
The energy performance diagnosis is no longer just an administrative document tucked away in a drawer. It acts as a value marker that guides negotiations from the very first visit.
The Notaires de France have documented, based on transactions in 2024, a significant depreciation of properties classified F or G compared to better-rated properties. The price gap between energy classes is widening year by year, meaning that a purchase in an energy-inefficient property is only a good deal if the renovation budget is factored into the profitability calculation.
For an investor, this changes the perspective. A property rated D or E in a tight market can offer a decent rental yield after renovation, provided that the cost of bringing it up to standard has been accurately estimated. In contrast, buying an F/G without a renovation plan amounts to betting on an asset whose resale value will continue to erode. You can discover immorush on Immo Galaxy to follow the evolution of these market dynamics.
Tighter rental regulations: what changes for furnished and seasonal rentals
The anti-Airbnb framework has tightened significantly. Municipalities now have stricter levers: reinforced limits on tourist rental duration, increased reporting obligations, and heightened checks on co-ownership regulations.
This evolution directly impacts the profitability of seasonal strategies. An apartment rented short-term in a city that imposes a low annual cap generates mechanically less income than anticipated, especially if management costs (cleaning, platform fees, tourist tax) remain fixed.
Checks to conduct before any furnished rental purchase
- Consult the co-ownership regulations to verify that it explicitly allows short-term rentals, or risk having to abandon this strategy after acquisition
- Identify the current municipal rules (registration at the town hall, registration number, night limits) as they vary significantly from one municipality to another
- Compare the net yield between long-term furnished rentals and seasonal rentals once local constraints are integrated, to choose the truly suitable operating mode
Long-term furnished rentals are becoming competitive in several urban markets where restrictions on seasonal rentals have reduced the profitability gap between the two operating modes.
Real estate financing in 2024: a credit market that is assessed on a case-by-case basis
After the rapid rise in rates observed in 2023, the mortgage credit market has returned to a form of normalization. Applications are now processed more on a case-by-case basis, meaning that the quality of the borrower profile weighs more than the displayed interest rate.
In practical terms, two buyers targeting the same property can obtain very different conditions depending on their contribution, their remaining living expenses, and the stability of their income. Banks no longer apply a uniform scale.
Three criteria that can sway a credit application
The personal contribution remains the primary lever. A contribution covering notary fees and part of the purchase price allows for negotiating a lower rate and more flexible insurance conditions.
The debt ratio, capped around the regulatory threshold, filters out overly ambitious projects. Investors who have both a primary residence loan and a rental loan must anticipate this cap from the simulation stage.
The remaining living expenses after monthly payments often determine the final acceptance of the application, more so than the debt ratio alone. A bank will more readily accept a high-debt application if the remaining living expenses remain comfortable.
Climate resilience: an investment angle that has become concrete
Extreme heat is no longer a secondary comfort issue. It affects the rental attractiveness of properties, operating costs, and long-term valuation. JLL’s feedback on offices shows that climate resilience audits are becoming a prerequisite before acquisition, including in commercial real estate.
For residential properties, the reasoning translates: an apartment under the roof without insulation or mechanical ventilation loses rental attractiveness every summer. Tenants now choose between a low rent and a livable home during heatwaves.
The investor who incorporates this parameter from the selection stage (orientation, floor, presence of external blinds or ventilation) anticipates a risk of summer vacancy that was not included in traditional analysis grids.
Real estate market 2024: where to focus your analytical effort
The four filters described (EPC, rental regulations, financing, climate resilience) do not operate in isolation. A property rated C in a city without Airbnb restrictions, financed with a good bank profile, and located in a well-ventilated building, accumulates favorable conditions.
In contrast, a property rated F in a municipality that is tightening its rental rules, purchased with minimal contribution and exposed full south on the top floor without thermal protection, silently adds risks.
Profitable real estate investment in 2024 relies on a convergence of criteria, not on a single market signal. A temporary drop in price per square meter does not compensate for an unfavorable regulatory framework or an underestimated energy renovation cost.