- 3 min
Amundi Immobilier launches PREMELY Habitat 2, the second in its "Scellier" real estate investment trust series
Buoyed by the success of its first "Scellier" SCPI (1), which leads the French market by size (€100 million) and market share (21%), Amundi Immobilier is launching PREMELY Habitat 2, the second in its PREMELY Habitat series. This is an opportunity for individuals looking to invest indirectly in new buy-to-let residential real estate and take advantage of the benefits offered under the Scellier Act, which allows investors to deduct 25% (2) of eligible 2010 investments from income tax over nine years(3) (up to €300,000 per year and per household for tax purposes).
The PREMELY Habitat 2 SCPI focuses on high-quality, carefully selected assets, investing primarily in real estate that is geared to family housing needs in France. Assets are located in areas of major economic activity (Paris and its metropolitan area, in and around France's main cities), chiefly in zones A (5) and B1(6), according to the Scellier zoning rules. The purpose of this selective approach is to maximise tenancy rates, as well as price and liquidity at resale, in order to enhance overall returns.
For a minimum outlay of €10,000 (includes entry fee of 8.392% and tax), PREMELY Habitat 2 offers investors a simple way to get into the real estate market and tap the benefits provided under the Scellier Act. What is more, investors can forget about the worries of property management. In return for an annual management fee, Amundi Immobilier, which boasts over 30 years' experience on the French market, handles the entire process of selection and investment, resale of assets when the trust matures, as well as supervision and oversight of property and rental management. PREMELY Habitat 2 can also diversify and spread risk, through the number and nature of assets and the wide range of regions and cities where the trust invests.
Investors who want to build up or diversify their wealth can reduce their income tax through PREMELY Habitat 2. Used instead of or combined with a direct "Scellier" investment, this trust can ensure that tax advantages are optimised up to the allowed maximum.
PREMELY Habitat 2 aims to have assets in excess of €100 million by the end of 2010 and is being marketed until 20 December 2010 in branches of Crédit Agricole, Société Générale and LCL. Additions to the PREMELY Habitat series are planned for 2011 and 2012.
(1) SCPI: Société Civile de Placement Immobilier, or Real Estate Investment Trust.
(2) Under current tax rules.
(3) Taxpayers are entitled to receive multiple tax reductions through separate investments4 in different real estate sectors in the areas of tourism, low-cost holiday centres, overseas housing and heritage restoration (Articles 199 (10) E to 199 (10) G, 199 (10) I, 199 (11) A and 199 (23) of the General Tax Code).
(4) A taxpayer investing in several different SCPIs is entitled to receive the tax reductions for each of the investments in these different sectors, provided all other conditions are met, including the maximum annual ceiling of €300,000.
(5) Paris, inner ring and outer ring to the boundaries of the greater Paris area, Côte d'Azur (Hyères-Menton coast), French Geneva area.
(6) Urban areas of more than 250,000 residents, Paris outer ring, a number of expensive urban areas, along the Côte d'Azur, overseas departments, Corsica and Islands.