Viager Europe — Cabinet Daubry
Guide expert

Vacant viager

Explore vacant viager: a property immediately available for the buyer and a higher bouquet for the seller. A win-win strategy.

3 min de lectureMis à jour le 7 juillet 20267 questions fréquentes

When discussing viager, one immediately thinks of occupied viager, where the seller remains in their home. However, there is another form of sale, more discreet but remarkably effective for both parties: the vacant viager.

In this arrangement, the property is sold free of any occupancy. For the seller, it guarantees receiving a higher capital sum and life annuity (rente viagère). For the buyer, it offers a unique opportunity to invest in real estate through seller financing and to collect rent immediately. This 2025 guide details how this win-win strategy works.

What is vacant viager? Definition and how it works

Vacant viager is a real estate sales contract where full ownership of the property (usage and title) is transferred to the buyer upon signing the deed. The buyer can therefore live in or rent out the property immediately.

As with any viager, payment is staggered:

  • The bouquet: a capital sum paid by the buyer on the day of signing. It is significantly higher than in an occupied viager since there is no occupancy discount.
  • The life annuity (rente viagère): a sum paid monthly by the buyer to the seller (the crédirentier), for life. The annuity is also higher than for an occupied viager of the same value.

The strategic advantages of vacant viager

For the buyer: an immediate rental investment

This is the key advantage of vacant viager. The buyer can rent out the property from day one. In most cases, the rent collected covers a large part, if not all, of the life annuity (rente viagère) to be paid. It’s a form of self-financing rental investment that doesn’t require a bank loan. This is particularly powerful in high-demand rental areas like Nice or major cities.

For the seller: higher capital and income

Since you’re transferring immediate use of your property, the financial compensation is logically greater. The calculation doesn’t include any occupancy discount. The bouquet is therefore larger, and the monthly annuity is higher, maximizing the income you earn from the sale. This is the ideal solution for selling a second home, a vacant rental property, or a property you no longer use.

Vacant viager or occupied viager: a question of property use

The choice between the two forms of viager depends on a single criterion: whether the seller needs to continue living in the property or not.

The occupied viager is a solution for aging in place. The seller sells their current home to remain there while receiving additional income.

The vacant viager is a solution for turning dormant assets into income. The seller sells a property they don’t live in (second home, rental investment, etc.) to maximize its financial return.

In conclusion, vacant viager is a sophisticated and mutually beneficial real estate strategy. It allows a seller to maximize the financial value of a property they don’t occupy and enables an investor to build a rental portfolio with controlled cash flow.

Étude personnalisée

Vous envisagez un viager ? Parlons-en.

Nos experts du Cabinet Daubry réalisent une étude confidentielle gratuite et sans engagement, adaptée à votre situation.

Estimer mon bien0800 230 200
FAQ

Vos questions, nos réponses

Tout ce qu'il faut savoir avant de se lancer.

01Why would a seller choose a vacant viager over a traditional sale?
For two main reasons: securing a regular, lifelong income rather than a single lump sum (which is more tax-efficient and provides greater retirement security), and expanding the pool of potential buyers to those who lack access to bank credit but have available funds.
02Who pays the charges and taxes in a vacant viager?
Here’s the translation: It’s very simple: the buyer. From the signing of the deed of sale, they become the full owner of the property. They are therefore responsible for all co-ownership charges, property tax, maintenance work, and home insurance.
03Does the property's rental yield affect the calculation?
Yes, indirectly. A property located in an area with high rents will be more attractive to investors. This may allow the seller to negotiate a slightly higher bouquet, as the buyer is assured that rents will easily cover the life annuity (rente viagère).
04What is the risk for the buyer if the seller lives a very long time?
The principle of viager risk applies here as well, including in vacant viager. The buyer may pay more than the property’s value if the seller has exceptional longevity. However, this "risk" is offset by the rental income received over those years—a benefit not available in occupied viager.
05What is the tax treatment for the seller?
The tax treatment is the same as for occupied viager. The bouquet is exempt from capital gains tax if it was your primary residence before the sale. The life annuity (rente viagère) benefits from a highly favorable tax allowance that increases with age (up to 70% for those over 70).
06What is the tax treatment for the buyer?
If the property is rented out, the rental income received is classified as property income and taxed accordingly. Certain expenses may be deducted, such as interest on a potential loan for the bouquet or renovation work. The life annuity (rente viagère), however, is not deductible from their income.
07Is vacant viager a good option for all types of properties?
It is particularly well-suited to studios and 2- or 3-room apartments in university cities or tourist areas, as they can be rented out easily and quickly. It provides an alternative and attractive financing solution for investors in these markets.