France’s election campaign is putting the brakes on rent-to-buy schemes

France’s landlords in slow motion. A recent survey shows that one in three French people are bringing forward or postponing their property purchase for rental purposes, depending on the outcome of the 2027 presidential election. There is more to this than mere nervousness. Uncertainty surrounding taxes, regulation and refurbishment costs is having a direct impact on the future supply of rental properties.

The trigger is quantifiable. In the first Maslow.immo barometer, 33 per cent of respondents stated that the outcome of the 2027 presidential election could influence their plans to buy a property to let. The survey was conducted on 3 August 2026 amongst 1,000 adults in France and thus reflects a market that was already suffering from high prices, borrowing costs and increasing regulation even before the election campaign began.

At the same time, this form of investment remains sought-after. According to the barometer, 50 per cent of French people consider rental investments attractive, whilst 22 per cent are considering buying a property to let within the next year. It is precisely this contradiction that makes the political dimension so explosive. The demand for investment properties is there, but many households are waiting for clearer rules on taxation, tenancy law and the economic environment.

Regulation has long been a factor in the calculations
This caution is not merely a perception. Since 1 January 2025, properties in France with energy efficiency class G may no longer be newly let, renewed or tacitly extended. For private investors, this means that future renovation costs will become a direct factor in their return calculations. Added to this are rent control measures in high-demand areas, as well as tax incentives that have been adjusted several times in recent years.

This explains why political uncertainty in France has such a direct impact on the property market. For many households there, home ownership serves not only as an investment but also as a cornerstone of retirement planning, financial security and the transfer of wealth. If this framework is perceived as unpredictable in the run-up to a presidential election, a wait-and-see approach becomes an investment decision in itself.

Fewer purchases ultimately affect the rental market
For the property sector, this is not merely a question of sentiment. When private buyers postpone projects, the rental market is left short of flats in the future. This is all the more delicate because 68 per cent of those surveyed consider private landlords to be essential or important for providing housing for the population. At the same time, 40 per cent cite rent defaults or squatting as a key obstacle, 39 per cent cite property prices and 34 per cent cite interest rates.

Even before the election, the French market is thus demonstrating just how closely politics, regulation and housing supply are linked. The 2027 election will not yet decide anything regarding specific taxes or tenancy regulations. But it is already influencing investment decisions today. It is precisely this early slowdown that is likely to become more important for property developers, estate agents and landlords in the coming months than any general election campaign rhetoric.