Faced with the challenges of an aging population and the search for responsible investments, viager is appealing to an increasing number of French people. By offering seniors the opportunity to secure their income while remaining in their homes, and providing investors with an attractive return, this type of transaction has established itself as an ideal response to current needs.
A steadily growing market
In recent years, viager has distinguished itself as one of the rare real estate segments to post positive momentum, even during broader industry downturns. In 2024, more than 6,000 transactions were completed, marking an increase of approximately 5% compared to the previous year. This performance is part of a long-term trend: the number of viager transactions has grown by an average of 5% each year since 2020, and some analysts even anticipate annual growth of 15% to 18% by 2030, driven by the arrival of new institutional players and the digitalization of the process.
Strong demographic and financial drivers
The primary driver of this expansion lies in the aging of the French population: individuals over 65 now represent more than 22% of the population, and the proportion of those over 85 is projected to triple by 2050. Faced with this reality, many seniors are choosing to monetize part of their real estate wealth while retaining the right of use and habitation for their home, thereby securing their retirement income. Concurrently, investors are drawn to an annual net yield between 6% and 7%—a rare figure for a property investment that requires no rental management—as well as an average discount of 30% to 50% applied to the market value of the properties.
An increasingly widespread geographical footprint
Long confined to areas with high land values, such as Île-de-France and the French Riviera, viager now spans the entire country. More than 43% of sales now take place in Western France, from north to south, and regions such as Nouvelle-Aquitaine and Occitanie are seeing their market share grow year over year. This geographic diversification reflects an increasing interest in balanced wealth management solutions that remain insulated from standard market fluctuations.
Professionalization and innovative offerings
The emergence of specialized networks, insurers, and investment funds has contributed to professionalizing the viager sector. Online platforms now allow users to instantly simulate lump-sum payments (bouquets) and life annuities, compare different options (occupied, vacant, partial), and streamline decision-making. At the same time, new post-transaction services—such as automatic annuity indexation, buyer-seller mediation, and tax assistance—foster confidence between parties and extend support well beyond the signing of the contract.
Outlook toward 2030
Analyses point toward continued, or even accelerated, growth for viager in the years ahead. The Renée Costes barometer projects a steady increase of 6% to 7% per year through 2030, sustained by an influx of institutional capital and the emergence of hybrid models, such as partial viager or flexible forward sales (ventes à terme). Furthermore, strong demand from seniors and the quest for responsible investments among buyers reinforce the social and community-oriented dimension of viager, which is perceived as an innovative response to the challenges of aging and long-term care financing.
Conclusion
Although it represents roughly 1% of total real estate transactions, viager is emerging as a rapidly maturing wealth management alternative. By combining legal certainty, attractive returns, and a socially responsible framework, it appeals both to seniors seeking financial peace of mind and to investors looking for stable, ethical opportunities. To make this solution even more accessible, it will be essential to enhance public education, broaden regional coverage, and continuously innovate in service delivery.
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Sources:
● Viager Barometer 2025
● Xerfi Study 2024: The Viager and Bare-Ownership Market Through 2030
● INSEE, Population Projections 2025–2050
● France Stratégie, Aging and Wealth (2023)
● BFMTV Business, Digitalized Viager (January 2025)
● Les Échos Investir, Viager: An Investment for the Future? (February 2025)
