Discover the benefits of investing with cogedim

The rise of the Jeanbrun scheme marks a decisive turning point for the new-build real estate market, offering a robust alternative following the end of the Pinel regime. Our analysis shows that investment with Cogedim captures this momentum through a strategy focused on the amortization of the asset, capable of neutralizing taxation on rental income for taxpayers in marginal tax brackets above 30%. In 2026, rigorous asset selection, notably in areas with high rental pressure such as Bordeaux or Greater Paris, becomes the main lever of net profitability, turning a simple investment into a genuine tool for the transfer of wealth. This developer’s ability to integrate rental management services and guarantees against unpaid rent secures cash flow, a critical point for any real estate project financed with leverage.

• Tax optimization : Use of the new Jeanbrun framework for effective accounting amortization.
• Geographic diversification : Access to strategic areas such as Montpellier, Paris 13th and the Geneva border region.
• Rental security : Partnerships with renowned operators for student and senior residences.
• Turnkey offer : Inclusion of notary fees and a fitted kitchen within the Cogedim Avantages package.
• Usufruct strategy : Bare ownership solutions for capitalization without immediate tax pressure.

Analysis of the fiscal renewal with the Jeanbrun scheme and the Cogedim offering

The landscape of rental investment has radically changed following the disappearance of traditional direct tax reduction schemes. The Jeanbrun scheme, now at the heart of wealth strategies, is based on the principle of amortizing the real estate asset. Unlike previous systems, it allows a fraction of the acquisition price to be deducted from taxable income over a long period, which mathematically reduces the tax base. For a savvy investor, this approach is far more sustainable because it does not rely solely on a temporary tax niche but on the intrinsic value of the asset and its capacity to generate an accounting rental deficit.

Cogedim anticipated this shift by adapting its programs to the requirements of Intermediate Rental Housing (LLI). This structure, particularly powerful when implemented via an SCI, allows one to benefit from a reduced VAT at 10% and an exemption from property tax for fifteen years. By combining the Jeanbrun mechanism and the LLI, we observe simulations where the tax burden on received rents is virtually nil during the first decade. This maximizes the self-financing capacity of the investment, a strong argument in a context of financing rates that require millimetric cash flow management. Programs located in Bordeaux, notably in the Belvédère district, perfectly illustrate this synergy with attractive entry prices and a potential for long-term capital gain thanks to the development of local infrastructure.

Cogedim‘s expertise is not limited to construction; it extends to the financial structuring of the real estate project. The group has recently marketed more than eight thousand units, proving that demand for high environmental quality assets remains strong. In 2026, a building’s green value is no longer optional but a condition of its future liquidity. Timber-framed residences, like those offered in Paris’s 13th arrondissement, meet the strictest standards, ensuring that the wealth will not suffer a discount related to future thermal regulations. This is where the support of specialized advisors makes all the difference: determining whether the Jeanbrun framework or property dismemberment is best suited to your overall tax situation.

To illustrate the performance of these structures, we analyzed the average returns observed on recent program launches. The gross profitability, although often highlighted by sales teams, must be restated to obtain net profitability after taxation. With Cogedim solutions, the integration of management fees and insurance from the simulation phase helps avoid unpleasant surprises. The investor’s role is to focus on location, while the developer secures the project’s technical and fiscal execution.

Property dismemberment: a serene capitalization strategy

Property dismemberment imposes itself as an excellent solution for those who wish to grow their real estate wealth without increasing their immediate tax burden. The principle consists of separating the bare ownership (the walls) from the usufruct (the right to occupy or rent). By investing only in the bare ownership, you buy the property at a significant discount, generally between 30% and 40% of its full ownership value. In return, you forgo rents during a contractual period of fifteen to sixteen years. At the end of this period, you automatically regain full ownership without additional costs, thus benefiting from mechanical capitalization and the market’s potential capital gain.

Cogedim has developed sharp expertise in this field, notably with its “Flex nue-pro” offering. This innovation allows the duration of dismemberment to be adjusted over shorter periods, ranging from six to eleven years, on standard new properties. This flexibility is ideal for executives aged 40 to 50 who are preparing for retirement. The absence of rental income during the dismemberment phase means no increase in income tax or social contributions. Moreover, the asset is removed from the IFI (French real estate wealth tax) base for the bare owner, making it an extremely effective wealth diversification tool for highly taxed taxpayers.

Take as an example an investment in Montpellier or Saint-Laurent-du-Var. In these areas, rental demand is such that social landlords are willing to acquire the usufruct to house tenants, thereby guaranteeing perfect maintenance of the building throughout the dismemberment period. For the investor, it’s a “worry-free” investment: no tenant management, no repair work, no common condominium charges. We consider this approach one of the safest ways to build quality wealth in metropolitan areas where full ownership purchase prices might be prohibitive for some budgets.

Beyond the purely financial aspect, investing in bare ownership with Cogedim is also a civic act that facilitates access to housing in tight markets. By collaborating with social or institutional landlords, the group enables the creation of affordable housing while offering total contractual security to private investors. This demonstrates the private market’s ability to respond to societal challenges while generating solid economic performance for individuals. Transmission is also facilitated, as donating the bare ownership of an already dismembered property can significantly optimize inheritance duties.

Managed real estate and the LMNP status: yield and flexibility

For investors seeking immediate complementary income, the status of Loueur en Meublé Non Professionnel (LMNP) remains a cornerstone. Cogedim offers two distinct approaches: managed LMNP in serviced residences (student, senior) and unmanaged LMNP in classic residential real estate. In the first case, the investor signs a commercial lease with a professional operator such as Studéa or Les Belles Années. This guarantees the payment of rents whether the accommodation is occupied or not. In 2026, the shortage of student housing remains a major issue in France, which ensures occupancy rates close to 100% in major university cities like Lyon or Bordeaux.

The main advantage of LMNP lies in taxation. Thanks to the accounting amortization mechanism of furniture and real estate, it is possible to receive rents that are almost tax-free over a very long period. To explore this technical aspect further, I invite you to consult our complete guide to investing in LMNP. This strategy is particularly suitable for supplementing a retirement pension or financing one’s children’s studies, while building a tangible asset. Entry tickets for student residences often start around €100,000 excluding VAT, making this type of investment accessible to a wide range of savers.

On the other hand, unmanaged LMNP offers total flexibility. Cogedim supports owners by equipping units with “kitchen and furniture” packs and ensuring rental placement via Altarea Gestion Immobilière. This solution appeals to investors who wish to keep control of their property and potentially reclaim it for personal use later. Targeted profitability ranges around 4% to 5%, a very competitive figure compared to traditional financial investments. The developer’s expertise ensures the housing meets modern tenants’ expectations: connectivity, optimized spaces and top-tier energy performance.

It is crucial to note that the quality of the operator is the number one risk factor in managed real estate. Cogedim works exclusively with robust players who have a solid financial base. As an analyst, we always recommend checking the operator’s track record before committing. However, signing with a leader like Cogedim provides an additional layer of security, as the buildings are designed to facilitate daily operation and limit long-term maintenance costs, thereby preserving the value of your wealth.

The Cogedim Avantages Offer: optimizing the total cost of investment

Investing in new-builds often presents an acquisition cost perceived as higher than in older properties. To counter this barrier, the “Cogedim Avantages” offer groups a series of measures designed to boost profitability from day one. The developer covers notary fees, which represent approximately 2 to 3% of the price in new builds, compared with 7 to 8% in old properties. This immediate saving reduces the need for personal down payment and mechanically improves the leverage effect of bank financing. In a market where credit conditions are closely scrutinized, every percentage point gained on the total cost of the real estate project is decisive.

Turnkey support is the other pillar of this offer. Cogedim often includes the fitted kitchen and offers one year of free rental management. For an investor, this means faster leasing and no initial vacancy. In addition, the integrated rent guarantee (GLI) secures the return. Our analysis shows that these packaged services can save several thousand euros over the first two years of holding. It’s a smart strategy for those who do not have the time to manage the operational details of a rental setup.

Another little-known but essential aspect is the legal and tax support. Cogedim provides precise simulators and sometimes covers the fees of an accounting firm for the first LMNP declaration. This administrative rigor is essential to validate chosen tax options and ensure the structure’s compliance. To understand how these tools can transform your management, you can explore the energy performance solutions in real estate that directly impact resale value. By centralizing all investor needs, from financing to management, the group simplifies a journey that is often complex and anxiety-inducing for newcomers.

Finally, investing with this developer means choosing a brand recognized by banks. Obtaining a loan for a Cogedim program is generally easier because financial institutions know the reliability of delivery and the quality of selected locations. This “brand guarantee” is a valuable intangible asset. Whether you are a first-time investor or an experienced owner looking to diversify your assets, these commercial advantages transform a standard real estate transaction into an optimized wealth solution capable of withstanding economic fluctuations.

Expert Analysis: Pitfalls to avoid and wealth planning trade-offs

My analysis as a former private banker leads me to a clear conclusion: new-build real estate should never be bought solely for its tax incentive. The classic trap lies in overpricing the sale price compared to the local market for older properties. With Cogedim, price transparency is reinforced by their volume of activity, but it is up to the investor to verify the coherence of estimated rents. Do not rely blindly on marketing brochures. Systematically compare the advertised rent with real sector data. An overly optimistic estimate can turn a promising investment into a financial abyss if the actual savings effort exceeds your capacities.

The other point of vigilance concerns condominium charges in residences with numerous services (pool, concierge). While these facilities attract tenants, they weigh heavily on net profitability. The pro tip is to favor medium-sized residences where charges are controlled. As part of a prudent investment, energy and technical sobriety often translate into long-term performance. Always check the quality of insulation and the heating systems offered; in 2026, a poor energy performance diagnosis (DPE) will make your property unlettable or require costly works before you have even finished repaying your loan.

Finally, consider the trade-off. A real estate project is not an end in itself but a link in your overall strategy. Sometimes it may be wiser to sell a full ownership property after 10 years to reinvest in bare ownership to prepare a transfer. Cogedim, with the diversity of its offering (from studios in Paris to large-scale programs in Annemasse), enables this agility. Always keep an eye on the secondary market: the strength of a Cogedim property also lies in its ease of resale. A buyer will always be reassured by a well-known “signature”, which guarantees better liquidity for your wealth.

What average yield can be expected with a Cogedim investment?

Depending on the type of property and location, gross profitability generally ranges between 3.5% and 5%. Tax optimization (LMNP, Jeanbrun) often helps to keep net yield very close to gross.

Is the Jeanbrun scheme really more advantageous than the old Pinel?

It is different. Jeanbrun is based on amortization, which is more powerful for high incomes (TMI 30%+) because it allows one to erase taxation on rental income rather than offering a limited tax reduction.

Can a bare ownership property be resold before the end of the dismemberment?

Yes, there is a secondary market for bare ownership. You then resell your right with the mechanical appreciation acquired since purchase, which can generate an attractive capital gain without ever having managed a tenant.

What guarantees does Cogedim offer in case of unpaid rent?

Through its management subsidiary, Cogedim offers GLI (Unpaid Rent Guarantee) insurance that covers tenant defaults and possible damage, thereby securing your cash flow.