The SCPI or Société Civile de Placement Immobilier is a collective investment company based on professional real estate, generally companies, shops or offices. Also called “Pierre Papier”, this support allows you to take advantage of all the advantages of an investment in real estate (safe haven, profitability, etc.) without having to suffer the disadvantages (lack of management, for example).
The management company (Primonial, La Française AM, Ciloger, Amundi, Perial, etc.) aims to identify and acquire the buildings most likely to provide profitability (and security) and manage the real estate assets of the SCPI.
By investing in SCPIs through a broker (NetInvestissement for example), the individual has access to a share of the rents generated by these investments.
The tax SCPI makes it possible to obtain a tax advantage during the year of subscription (reduction or deduction of taxes). These are, for example, SCPI Malraux or Pinel. The objective here is therefore clearly linked to tax exemption.
The performance SCPI does not give access to any tax reduction. It is aimed at investors looking for additional income wishing to make their capital grow. Their yield is generally competitive, particularly with regard to classic euro funds (between 4% and 6% net depending on the SCPI). Yield SCPIs also have the advantage of great diversification in the types of investments (sectors of activity, location, types of assets) which makes it possible to minimize the risks.
If you are looking for a solution to reduce your taxes without having to manage the constraints of managing a classic property (Pinel for example), the SCPI Fiscale will offer you a tax reduction of 18% without having to worry about management on the one hand and by greatly pooling your investment via a nationally diluted rental property stock.
If, on the other hand, you are rather looking for an investment generating a substantial return without constraint, without having to assume the management, then the SCPI of return are certainly what you need. 5% net return on average (excluding taxes), great stability in returns, a tangible asset class, decorrelated from the markets: real estate; SCPIs are attracting more and more investors who prefer to redirect their assets previously invested in a euro fund, towards this more profitable and almost as secure medium.
For example, the SCPI Primovie (Primonial), unique and singular in its choice of market positioning (it is the first health and education SCPI) also offering good profitability (5% net return in 2015, 5.1% net in 2014, 5.09% net in 2013).
The SCPI LFP Opportunit Immo (La Française AM) also has serious advantages since it is quite simply one of the most profitable SCPIs on the market (5.55% net return in 2015, 6% net in 2013 and 2014) .
And finally, you can pay special attention to the SCPI PFO2 (Perial), specializing in sustainable business real estate, which has also been distributing returns of more than 5% for several years.
Beyond the choice between tax SCPI and performance SCPI, you will have to pay attention to several criteria to choose your SCPI. Indeed, the yield or the potential tax reduction should not be your sole selection criterion. Capitalization, occupancy rate, asset mix and geographic area are all criteria that should have a place in your thinking. Last point: it is interesting to note that you do not necessarily need to have capital to invest in SCPIs. Indeed, it is quite possible to invest on credit. Ask your wealth management advisor.