Energy-inefficient property / thermal sieve
Common term for a property rated F or G on the DPE, indicating very high energy consumption. Such properties face phased rental bans (G-rated since 2025, F-rated from 2028). On a buy-to-let financing file, a thermal sieve may reduce the rental income the bank is willing to count and complicate loan approval.
Key points
- G-rated properties banned from rental since 2025; F-rated from 2028.
- Market value of energy-inefficient properties is declining in tight markets.
- Banks may reduce the rental income considered in the financing file.
- An energy audit and renovation works can improve the rating and lift the ban.
Frequently asked questions
Can a landlord still rent out a G-rated property in 2025?
No. Since 1 January 2025, G-rated properties are deemed indecent and can no longer be the subject of a new tenancy agreement or a renewal. Existing leases signed before that date remain valid until their end date, but the tenant may compel the landlord to carry out works.
How does a broker handle the case of an investor wanting to finance an energy-inefficient property?
The broker must inform the investor of current rental bans and model the financing plan including the cost of renovation works needed to bring the property into compliance. They can propose coupling the acquisition loan with an eco-PTZ or works loan to finance renovation at acquisition, presenting the future renovated value to the bank.
Is buying an energy-inefficient property always a bad deal for an investor?
Not necessarily: energy-inefficient properties are often negotiated at a discount to market price, and renovation aids (MaPrimeRénov', CEE, eco-PTZ) can cover a significant share of works cost. A well-advised investor can turn an inefficient property into a high-performing asset with attractive net yield, provided the renovation budget is accurately costed upfront.
In practice
An investor buys a G-rated 2-bedroom flat for €130,000 in a mid-sized city, 15% below comparable well-rated properties. After €20,000 in works (partially covered by aids), the property is reclassified D and can be rented again.
Official sources
- The energy performance diagnostic (DPE) · Service-Public.gouv.fr
- Sale agreement and loan condition precedent · Service-Public.gouv.fr
- Housing and financing information · ANIL