Pinel tax reduction extended to 2021 and refocused on high-demand areas

Article 68 of the 2018 Finance Act extends by four years, to 31 December 2021, the income tax reduction for buy-to-let investment known as "Pinel" (article 199 novovicies of the General Tax Code). It limits it to homes in zones A bis, A and B1 and to municipalities covered by a defence site redevelopment contract, removing approvals in zones B2 and C, except for homes whose building permit was applied for by 31 December 2017 and acquired by 31 December 2018 (extended to 15 March 2019 by the 2019 Finance Act). It also caps intermediaries' fees and commissions by decree. The scheme was later extended to 2024.