A landlord renting out a furnished tourist accommodation in a tight zone since the end of 2024 must now present a minimum energy performance certificate (DPE) rated E. This requirement, created by the Le Meur law of November 19, 2024, adds to the already tight schedule of the Climate and Resilience law. The two regimes overlap, and on the ground, the consequences for short-term rental investors are immediate.
Enforceable DPE in 2024: the legal risk that changes the game for sellers
Since July 2021, the DPE has been enforceable. In practice, initial feedback from the field shows that the financial consequences are becoming clearer year after year. In case of diagnostic error, sellers can be ordered to compensate up to 7.5% of the sale price, with a trend in case law towards partial reimbursement.
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It is observed that many sellers still underestimate this risk. A hastily conducted DPE, with a careless diagnostician, can trigger a dispute several months after signing. Buyers, better informed, no longer hesitate to contest the announced energy class when actual bills do not match.
For those following real estate news on Immo Galaxy, this rise in disputes around the DPE is one of the most commented topics by industry professionals. The energy diagnosis is no longer a secondary administrative document: it has become a central negotiation element in any transaction.
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Le Meur Law and tourist accommodations: what has changed concretely in tight zones
The Le Meur law of November 19, 2024, introduced a distinct regime for Airbnb-type tourist accommodations in tight zones. Any new rental must display at least a DPE rated E. The threshold will be raised to D starting in 2034.
This point is often misunderstood: this obligation does not replace the general schedule of the Climate and Resilience law (prohibition of renting G-rated properties starting in 2025, F in 2028, E in 2034). The two systems overlap, creating a double constraint for investors positioned in short-term rentals.
In practice, a landlord with a property rated F in a tight zone finds themselves caught in a bind. Long-term rentals will be prohibited in 2028 without renovations, and tourist rentals are already restricted. For an investor who planned to switch from one regime to another based on profitability, this strategy no longer works.
Items to check before renting short-term
- The current DPE class of the property, with a recent and reliable diagnosis (feedback varies on reliability depending on diagnosticians, hence the usefulness of obtaining a second opinion in case of doubt)
- The zoning of the municipality: check if it is classified as a tight zone, as obligations differ radically between tight and relaxed zones
- The estimated cost of energy renovation work to achieve class E or D, taking into account available aids (notably MaPrimeRénov’)
Real estate market 2024: price correction and more selective credit
The year 2024 confirmed a downward trend in prices in many French regions. According to data available from notaries and INSEE, prices have fallen by about 5% on average compared to the previous year. This correction has not been uniform: some metropolitan areas have resisted better than others, and attractive rural areas have sometimes maintained their levels.
On the credit side, high interest rates continued to weigh on households’ borrowing capacity. The volume of transactions has significantly decreased, with about 950,000 sales recorded in 2023, representing a 15% drop compared to the previous year. The trend continued into 2024, although a slight easing of lending conditions was noted at the end of the year.
What this correction changes for buyers
For first-time buyers, the drop in prices does not always offset the rise in the cost of credit. Real estate purchasing power remains lower than that of 2021-2022 in most major urban areas. Negotiations are longer, and sellers are accepting more price reductions than they did two years ago.
Investors, on the other hand, are scrutinizing properties to renovate to capture the discount associated with poor energy performance. A property rated F or G is negotiated with a significant margin, but the calculation only holds if the cost of renovations remains controlled.
Thermal sieves and regulatory calendar: deadlines to remember
The calendar of the Climate and Resilience law now structures all rental investment decisions in France. The prohibition on renting G-rated properties came into effect in 2025. F-rated properties will follow in 2028, and E-rated properties in 2034.
- G-rated properties prohibited from rental since January 2025: landlords who have not renovated must withdraw the property from the rental market or undertake work
- F-rated properties: deadline 2028, which leaves a tight timeframe for co-ownerships where decisions on work are slow
- E-rated properties: deadline 2034, with an anticipated effect on prices already now (buyers are already factoring in the cost of compliance in their offers)
On the ground, energy renovation of co-ownerships remains the main bottleneck. An isolated landlord can undertake work quickly, but in co-ownership, obtaining a favorable vote in the general assembly often takes more than a year. For properties rated F, the countdown to 2028 is already tight.
The real estate market in 2024 will thus be marked by this convergence of energy constraints, tightening credit, and price correction. Investors who anticipate regulatory deadlines stay ahead, provided they accurately assess the cost of compliance before purchasing.