A property owner discovering that their G-rated property can no longer be rented out, a buyer whose loan application is rejected due to the energy performance diagnosis (DPE), an investor whose rental yield is reduced by a tax on tourist rentals: the real estate market of 2025-2026 is first understood through these concrete situations.
Keeping up with real estate news is no longer enough. It is essential to understand how new regulatory constraints, interest rate movements, and local policies are changing decisions regarding buying, selling, or investing.
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DPE and thermal sieves: what really blocks transactions
There is a lot of talk about the Climate and Resilience Law, but on the ground, the consequences are felt at the moment of signing. A G-rated property can no longer be offered for rent. F-rated properties are following the same path.
The first visible effect is the decrease in the sale price of poorly rated housing. Notaries and agency networks like Century 21 or Orpi are already documenting significant price gaps between a renovated property and an energy-hungry one in the same neighborhood.
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The second effect concerns financing. Some banks refuse to finance a purchase if the DPE is too poor, or condition the loan on a detailed work plan. To follow the latest news on Actu Immobilier, it quickly becomes clear that this mechanism transforms the negotiation between sellers and buyers.
Specifically, three situations keep recurring:
- The seller who sets their price based on the old market and finds themselves without offers, as buyers factor in the cost of energy renovation work into their calculations.
- The rental investor who buys a lot to renovate thinking they can rent it out quickly, only to discover that the timeframes for work and the constraints of obtaining aid extend the rental vacancy by several months.
- The first-time buyer targeting an old property at a reduced price, but whose bank application stalls because the bank requires a sufficient remaining income after financing the renovations.
The DPE is no longer just an administrative document. It determines the financial feasibility of a project, and ignoring the energy label is akin to buying blind.
Tourist rentals and second homes: tightening local rules
Paris, Lyon, Bordeaux, a large part of the Atlantic and Mediterranean coast: tourist municipalities have increased constraints on Airbnb-type furnished rentals since 2023-2024. Quotas, change of use permits, and increased fines for unregistered rentals.
For an owner renting out a seasonal apartment, the profitability calculation has changed. Permits take longer to obtain, certain areas are completely banned, and fines for illegal rentals have been raised.
At the same time, several mayors of coastal and mountain municipalities are experimenting with moratoriums on second homes or surcharges on housing tax. The stated goal: to preserve the stock of year-round housing for permanent residents.
On the ground, these measures create a dual market. On one side, properties with proper tourist rental permits maintain their value. On the other, properties without permits lose some of their appeal to investors, which can affect prices in seaside resorts or highly touristic city centers.
Mortgage rates: renegotiation and extended loan durations
We have seen rates rise sharply, then begin a partial decline. This movement has given rise to a concrete phenomenon: a structured market for mortgage renegotiation.
Borrowers who signed at the peak of rates are looking to renegotiate, either with their bank or by refinancing with a competitor. Brokers report an influx of requests, and banks, lacking new files, are more willing to review conditions.
Extension of loan durations: a double-edged sword
To keep monthly payments manageable despite still high prices in major cities, the average loan duration has increased. We now see loans of 27 or 30 years offered by some institutions, where the standard used to be 20-25 years.
The immediate gain in purchasing power exists, but the total cost of credit significantly increases over time. For a buyer, the question to consider is no longer just “what rate?”, but “what is the total cost and what resale capacity in ten years?”.
Real estate monitoring: which topics to prioritize
The real estate market in France is understood through a few operational indicators, not through macro trends disconnected from daily life. Here are the points we are closely monitoring:
- The evolution of the rental ban schedule for thermal sieves, which can be accelerated or adjusted by decree.
- Municipal decisions on rent control and tourist rental rules, city by city.
- The behavior of banks regarding loan granting conditions, particularly flexibility on debt ratios and duration.
- The government’s budgetary decisions on renovation aid (MaPrimeRénov’ and local schemes), which change regularly in amount and criteria.
The political context also weighs in. The prospect of the presidential election in 2027 creates a wait-and-see attitude among some buyers and sellers, as noted by several market observers. This period of electoral uncertainty tends to slow down purchasing decisions, especially for high-value properties.
Whether one is a buyer, seller, investor, or simply curious, understanding the market involves these concrete signals. Regulatory announcements and interest rate movements only make sense when related to a specific situation, a real project, an identified property.