Tax reduction for buying units in social-purpose residential hotels

Article 71 of the 2006 amending Finance Act creates Article 199 decies I of the General Tax Code: taxpayers who buy, between 1 January 2007 and 31 December 2010, a new or renovated unit in a social-purpose residential hotel (résidence hôtelière à vocation sociale) and let it unfurnished to the operator for at least nine years receive an income tax reduction of 25% of the cost price. The base is capped at €50,000 for a single person and €100,000 for a couple, and the reduction is spread over six years. A decree sets the implementing conditions.