Rental yield in France 2026: gross, net and net-net with real purchase costs
The yield of a French buy-to-let, calculated without a loan on the money you actually commit: price, real notary fees, works.
Checked by Radif Partners · Editorial policy
Rental yield compares rent with the money invested, and in France it is quoted three ways. Gross yield divides annual rent by the purchase price, the flattering figure in agents’ listings. Net yield divides rent actually collected, after vacancy and minus non-recoverable charges, property tax and management fees, by the total cost of the purchase, notary fees and works included. Net-net yield also deducts income tax and social charges, 17.2 % on unfurnished lets and 18.6 % on furnished lets for French residents. A flat bought for €160,000 in the Nord and let for €750 a month, with €700 of charges and €900 of property tax, yields 5.63 % gross, 3.84 % net once €13,188 of notary fees are added, and 2.27 % net-net for a 30% taxpayer. The calculator uses the actual fees of the département rather than a national average.
Net yield after charges
3.84 %
Gross 5.63 % · net-net 2.27 % after tax
| Gross yield (rent ÷ price) | 5.63 % |
| Total cost (incl. notary fees €13,188) | €173,188 |
| Rent collected over the year | €8,250 |
| Charges, property tax and management | − €1,600 |
| Net yield (net income ÷ total cost) | 3.84 % |
| Taxable income (micro-foncier, 30% allowance) | €5,775 |
| Income tax (30%) and social charges (17.2 %) | − €2,726 |
| Net-net yield | 2.27 % |
| Net income after tax, per month | €327 |
Calculated without a loan: interest, borrower insurance and furnished depreciation under the actual regime are not modelled.
Maximum price for a target yield
Maximum purchase price
€160,000
| Notary fees at that price | €13,188 |
| Yield on the total cost | 5.54 % |
Three yields for three questions
Gross yield tells you whether the asking price makes sense against local rents, and nothing more. Net yield tells you what the cash you hand over on completion earns each year, so it must be measured on the full cost of the purchase: notary fees, an agency commission paid by the buyer and initial works leave your account exactly like the price. Net-net yield tells you what remains after French tax. Comparing listings on gross yield alone favours cheap properties in high-tax towns and old buildings with heavy charges.
This site deliberately stops before the mortgage. Cash flow with a loan, leverage and borrowing capacity depend on the rate and insurance a bank offers you, which is a broker’s job. Yield without a loan keeps the comparison between two properties clean.
Why real notary fees matter
Many calculators add a flat percentage for notary fees. In France the cost depends on the département’s transfer tax rate and on whether the home is new or resale: on our €160,000 example, fees are €13,188 on a resale flat in the Nord, far less on a new build. The calculator takes them from this site’s notary fees engine with the rate each département voted for 1 June 2026. Property tax deserves the same care: the rate voted by the town, shown in the taxe foncière guide, varies enormously between municipalities.
| Département | Price | Monthly rent | Gross | Net | Net-net (30% bracket) |
|---|---|---|---|---|---|
| Nord | €130,000 | €650 | 6.00 % | 3.94 % | 2.26 % |
| Gironde | €220,000 | €900 | 4.91 % | 3.49 % | 2.12 % |
| Paris | €400,000 | €1,450 | 4.35 % | 3.33 % | 1.76 % |
| Puy-de-Dôme | €110,000 | €600 | 6.55 % | 4.18 % | 2.36 % |
How net-net is taxed
Unfurnished rent is property income. Up to €15,000 a year, the micro-foncier regime applies a flat 30% allowance for all costs; the rest is taxed at your marginal income tax rate plus 17.2 % of social charges for a French resident. Long-term furnished lets by a non-professional landlord fall under micro-BIC up to €77,700 of receipts, with a 50% allowance and 18.6 % of social charges. The actual regimes allow real costs and, for furnished lets, depreciation; that depreciation is now added back to the capital gain on sale.
Non-residents pay French income tax on French rent at the minimum rate set for them, or at the average rate of their worldwide income if lower: select the bracket closest to the rate the tax office applies to you. If you are covered by the social security system of another EEA country or Switzerland, only the solidarity levy applies, which the calculator does not separate; your net-net will then be higher than shown.
Charges that belong in the calculation
Charges you can recover from the tenant do not reduce your yield; only non-recoverable ones do: major works, the building manager’s fees, the reserve fund, landlord insurance, small repairs and, if you use one, an agency’s management fee on collected rent. The waste collection tax printed on the property tax notice is recoverable, so enter the property tax alone.
What a yield leaves out
A yield is a snapshot of a typical year. It ignores rent increases, which are capped in some cities, energy-efficiency works that letting rules increasingly require, and the capital gain or loss on resale. Keep the same assumptions when comparing properties and look at the difference in net yield first.