The Malraux act and its tax benefits
The Malraux Act aims to reduce taxes on the amount paid for the restauration of certain properties:
– 30% for buildings that are in a “Preserved sector”.
– 22% for buildings located in a “Heritage Protection Area”
This tax exemption is for those who invest in apartments to renovate. Investors are obliged to use a licenced Heritage Architect and must comply with the annual ceiling of € 100,000.
The work should lead to the full restoration of the building and the purpose of this law is to repopulate, restore and preserve the historic centers of cities.