The new market in 2025 is viewed through two overlapping grids: the regulatory thresholds RE2020 that are tightening in stages and the financing conditions that are restructuring around the energy performance of the building. Cross-referencing these two parameters before comparing real estate offers helps avoid misjudgments about the actual acquisition cost.
Construction Ic indicator and RE2020 thresholds: what changes in the interpretation of a new offer
Since January 1, 2025, building permits submitted require the display of the carbon footprint of the building (construction Ic indicator) in technical notices and marketing files. This is not an optional label: it is a regulatory obligation stemming from RE2020, with a significant reduction in Ic ceilings in 2025 followed by a new stage planned for 2028.
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We observe that this constraint directly modifies the structure of the offers. A developer who submits their permit at the end of 2024 escapes the 2025 threshold and markets a program that is technically less demanding. Conversely, a program submitted in 2025 shows a lower Ic, which implies different construction choices (low carbon concrete, wood, bio-sourced materials) and often a recalibrated price per square meter.
Before comparing two new programs, we recommend checking the date of submission of the building permit. Two residences delivered in the same year may fall under different RE2020 thresholds, with unrelated carbon performances and construction costs.
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To track the evolution of available programs and their technical characteristics, RapidActu’s real estate offers aggregate listings while specifying the key data for each lot.
Bank eco-loans and green weighting: financing as a purchasing lever in new builds
The face value of a new apartment does not reflect its actual acquisition cost. Since 2024, several major banks (Crédit Agricole, Banque Populaire, Caisse d’Épargne) offer specific rate discounts for new homes classified A or B in energy performance. These bonuses meet the green weighting requirements of their real estate portfolios.
The mechanism is straightforward: a new RE2020 home, more expensive to purchase than an old equivalent in size, can generate a comparable or even lower monthly payment thanks to a discounted rate. An old property poorly rated in the DPE (labels E, F, or G) faces additional premiums or refusals of financing, reversing the pricing power between new and old.
The expanded PTZ since the 2025 finance law amplifies this effect. Financing up to half of the acquisition price at zero interest transforms the structure of a financing plan, provided that the property and the buyer meet the zoning and income criteria.
Verification points before banking simulation
- Ask the developer for the projected energy label of the lot and confirm that it corresponds to the RE2020 threshold of the submitted permit, not to an optimistic commercial projection.
- Compare the rate grids of three distinct institutions while specifying the DPE class of the property: the bonus varies from one bank to another and can represent several dozen basis points.
- Check PTZ eligibility on the ANIL website with the actual parameters of the program (zone, resource ceilings, financeable share) before validating a projected budget.
Bulk sales and developer destocking: deciphering discounted offers
Any developer discount has an identifiable technical or financial cause. Since 2024, the rise of bulk sales to institutional investors (social landlords, real estate companies) has changed the availability of lots for individual buyers. When a developer sells a significant portion of a program to a landlord, the remaining lots are sometimes re-offered with adjusted commercial conditions.
Several situations explain the promotion of a lot:
- Ground-floor apartments or those facing north, statistically the last to be sold, for which the developer grants a discount to complete sales before delivery.
- Programs where the sales pace is below initial projections, forcing the developer to offer waived notary fees, an equipped kitchen, or a direct discount on the price.
- Lots recovered after a buyer’s withdrawal in VEFA, sometimes re-sold under more favorable conditions than the initial price due to calendar pressure.
We recommend always requesting the marketing table of the program. A program sold with less than half of its lots a few months before delivery signals a risk of delay or an initially too high pricing position. The discount then compensates for a market shortfall, not a generosity of the developer.
Rental yield in new builds: balancing between medium-sized cities and metropolitan areas
Gross rental yield varies significantly depending on location. Metropolitan areas show high purchase prices that compress yield, while dynamic medium-sized cities offer a better rent/acquisition price ratio. The LMNP status (non-professional furnished rental) allows for accounting depreciation of the property and receiving net rental income for several years, which improves net profitability without relying solely on rental tension.
The decision-making process is not limited to gross yield. A new apartment in a medium-sized city with a higher yield but more frequent vacancies may underperform a property in a metropolitan area with a lower face yield but continuous occupancy. The actual occupancy rate weighs as much as the theoretical rent in the calculation of net profitability.
The choice of geographical sector also depends on the wealth strategy: an investment oriented towards long-term capital gains will favor a metropolitan area under land pressure, while an immediate cash flow objective directs towards markets where the price per square meter remains moderate compared to the rents charged.
The cross-reading of the applicable RE2020 threshold, the banking financing conditions, and the geographical positioning of the program constitutes the minimal technical triptych for evaluating a new real estate offer. Ignoring any of these three parameters amounts to comparing prices without comparing products.