Investing in housing: beware of overly tempting promises

Investments in nursing homes, student accommodation, holiday residences… all offered very attractive tax benefits thanks to the Censi-Bouvard system, widely promoted by distributors of this type of scheme. Unfortunately, there was sometimes little discussion of the financial risks involved. Several professional footballers have paid for it. ” About fifteen years ago, the UNFP, through its subsidiary ESC, proposed several investments in nursing homes.recalls Benjamin Cabagno, a lawyer at Choise et al. Many footballers of the time paid, sometimes up to €300,000, for rooms, despite being in unattractive areas. For this, they were promised a rent of more than 4% per year and favorable taxation (income tax reduction, land deficit, etc.). »

On the one hand, however, these rents were not , as the lease could be renegotiated. On the other hand, the investment did not entitle the operation to be approved. ” In other words, if the operator decided to move, the players remained the owners of simple rooms, without an operator and without the possibility of reverse conversion.specifies Benjamin Cabagno. Unfortunately, this event happened. They have invested in empty shells that are not resaleable or 80% off because they are old buildings that are no longer of interest to care home operators. They could lose several hundred thousand euros. »

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