Thermal sieves — properties rated F or G on the energy performance scale — have become a major subject in French real estate. Are they an opportunity, a burden, or simply a reality to be managed?
The regulatory context
French legislation gradually restricts the rental of thermal sieves: since 2023, new tenancies for F-rated properties have been subject to rent freezes, and G-rated properties will be progressively banned from the rental market. This creates a complex situation for owners — but potentially an opportunity for buyers with a renovation project.
Opportunity or risk?
A thermal sieve in the character property market is often a property of intrinsic quality (architecture, location, land) whose energy performance is poor due to insufficient insulation or an outdated heating system. For a buyer capable of renovating, this configuration presents an opportunity: acquire a quality property at a discounted price and upgrade it.
The real conditions of this opportunity
This opportunity only exists if certain conditions are met: the renovation cost must be realistic (technical survey, detailed estimates), the property must have intrinsic qualities that justify the investment, the renovation must be feasible without destroying the architectural coherence of the place, and the post-renovation value must justify the total investment.
For seller owners
For owners of thermal sieve properties wishing to sell, the situation requires a clear strategy: adjust the price to account for the renovation cost, communicate transparently about the EPC rating and the work required, and target buyers capable of and interested in carrying out a renovation project.