Savers continue to turn to SCPIs, which constitute a preferred investment in the current context of doubt on the financial markets and inflationary pressures, for which stone and paper have a good level of protection.
From April to June, net inflows from SCPIs equaled the record amount for the first quarter: 2.6 billion euros according to figures from the French Association of Real Estate Investment Companies (ASPIM). In the first half of 2022, it was therefore 5.2 billion euros that inflated the assets of SCPI managers, up 39% compared to the last half of 2021 and 44% compared to the first half of 2021. As of 30 June 2022, the capitalization of SCPIs thus reached 84.1 billion euros, up 3% over a quarter.
SCPIs with a preponderance of “offices” achieved 45% of net inflows in the first half, ahead of SCPIs with a diversified strategy (27%) then the “health and education” category (15%). Less numerous, the SCPIs specifically typed “logistics and business premises”, “shops” and “residential” captured between 3% and 6% of the collection of the first half of 2022.
Real estate units of account in life insurance
The success of SCPIs is also confirmed in life insurance: civil companies supporting real estate unit-linked companies recorded net subscriptions of 2.5 billion euros in the first half of 2022, a volume up 67% compared to the last half. 2021 and 37% compared to the first half of 2021. With a total of 1.4 billion euros, the second quarter of 2022 sets a new record for quarterly inflows for non-trading real estate unit-linked companies.
As of June 30, 2022, the net assets of real estate unit-linked companies represented €21.7 billion, up 8% over one quarter.
A sign of the good health of the sector, the online savings platform Linxea has already recorded 16 SCPIs having revalued the price of their shares in the first half of 2022.