{"id":689,"date":"2026-05-20T11:56:44","date_gmt":"2026-05-20T09:56:44","guid":{"rendered":"https:\/\/www.toutsurmesfinances.com\/actualites\/?p=689"},"modified":"2026-05-20T11:56:44","modified_gmt":"2026-05-20T09:56:44","slug":"scpi-des-performances-heterogenes-au-premier-trimestre-2026","status":"publish","type":"post","link":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026","title":{"rendered":"SCPI : des performances h\u00e9t\u00e9rog\u00e8nes au premier trimestre 2026"},"content":{"rendered":"

Les performances des soci\u00e9t\u00e9s civiles de placement immobilier (SCPI) restent contrast\u00e9es au premier trimestre 2026<\/strong>. Sur la p\u00e9riode, leur rendement moyen, exprim\u00e9 en taux de distribution (TD)<\/strong>, s’est \u00e9tabli \u00e0 1,14%, contre 1,13% au premier trimestre 2025 selon les statistiques publi\u00e9es par l\u2019Association fran\u00e7aise des soci\u00e9t\u00e9s de placement immobilier (Aspim) et l\u2019Institut de l\u2019\u00c9pargne Immobili\u00e8re et Fonci\u00e8re (IEIF). Cette quasi-stabilit\u00e9 masque une disparit\u00e9 des TD selon leur typologie\u00a0: les SCPI diversifi\u00e9es affichent le taux de distribution moyen le plus \u00e9lev\u00e9, \u00e0 1,39%, devant la logistique et locaux d’activit\u00e9 (1,24%) et les commerces (1,13%). Les bureaux ferment la marche \u00e0 1,05%.<\/p>\n

<\/span>La moiti\u00e9 des dividendes en recul<\/span><\/h2>\n

L’\u00e9volution des acomptes sur dividendes<\/strong> vers\u00e9s aux porteurs de parts est \u00e9galement h\u00e9t\u00e9rog\u00e8ne\u00a0: 49% des SCPI ont abaiss\u00e9 les montants distribu\u00e9s, 27% des SCPI les ont relev\u00e9s, quand 24% les ont maintenus. En 2025, la moiti\u00e9 des SCPI ont diminu\u00e9 leur dividende par part, 14% ont affich\u00e9 un dividende stable et 36% l\u2019ont augment\u00e9.<\/p>\n

Du c\u00f4t\u00e9 des prix de part, la stabilit\u00e9 domine : 88% des SCPI ont conserv\u00e9 un prix inchang\u00e9 entre le 31 d\u00e9cembre 2025 et le 31 mars 2026, 8% l’ont baiss\u00e9 et 4% l’ont relev\u00e9. La valeur des parts recule en moyenne de 0,9% sur le trimestre, apr\u00e8s avoir d\u00e9clin\u00e9 de 3,45% sur l\u2019ensemble de l\u2019ann\u00e9e 2025.<\/p>\n

<\/span>Taux d\u2019occupation et valeurs des patrimoines en baisse<\/span><\/h2>\n

La performance globale annuelle 2025 ressort \u00e0 1,5%<\/strong>, apr\u00e8s 0,2% en 2024 et – 0,4% en 2023. Cet indicateur additionne le taux de distribution et l’\u00e9volution du prix de part sur l’ann\u00e9e. Le taux de distribution moyen, d\u00e9j\u00e0 connu depuis le 10 f\u00e9vrier, a progress\u00e9 pour la troisi\u00e8me ann\u00e9e cons\u00e9cutive, \u00e0 4,92% en 2025, contre 4,72% en 2024 et 4,52% en 2023. Sa d\u00e9composition est d\u00e9sormais connue.<\/p>\n

\u27a1\ufe0f Lire notre article sur le classement des taux de rendement 2025<\/a><\/p>\n

Cette hausse repose principalement sur la distribution issue du r\u00e9sultat, qui passe de 4,13% en 2024 \u00e0 4,24% en 2025. La distribution de r\u00e9serves sur report \u00e0 nouveau (RAN) contribue \u00e0 hauteur de 0,20% (contre 0,13% en 2024), alors que la quote-part de distribution de plus-values immobili\u00e8res diminue \u00e0 0,18%, contre 0,24% en 2024. Enfin, la fiscalit\u00e9 pay\u00e9e pour le compte des associ\u00e9s (le TD est un indicateur brut de fiscalit\u00e9) compte pour 0,30%, apr\u00e8s 0,22% en 2024.<\/p>\n

Le taux d’occupation financier des SCPI<\/strong>, principal indicateur de performance locative, s’\u00e9tablit \u00e0 91,3% pour 2025<\/strong>, en baisse pour la deuxi\u00e8me ann\u00e9e cons\u00e9cutive apr\u00e8s 92,2% en 2024 et 93,3% en 2023. La valeur de r\u00e9alisation par part (prix que retirerait une SCPI de la cession de l\u2019int\u00e9gralit\u00e9 de ses immeubles) continue de baisser, mais moins qu\u2019au cours des deux ann\u00e9es pr\u00e9c\u00e9dentes\u00a0: elle a diminu\u00e9 de 1,8% en moyenne en 2025, contre – 5,8% en 2024, – 10,3% en 2023 et – 2,4% en 2022.<\/p>\n

Leur ratio d\u2019endettement reste quasiment stable \u00e0 18,3% en 2025, contre 18,4% en 2024.<\/p>\n

<\/span>Probl\u00e8mes de liquidit\u00e9 persistants<\/span><\/h2>\n

Au 31 mars 2026, le montant des parts en attente de retrait repr\u00e9sente 2,75% de la capitalisation, soit 2,44 milliards d’euros, contre respectivement 3,14% et 2,79 milliards d\u2019euros au 31 d\u00e9cembre 2025.<\/p>\n

Depuis le d\u00e9but de l\u2019ann\u00e9e, huit SCPI ont annonc\u00e9 la suspension de la variabilit\u00e9 de leur capital (elles ne peuvent plus \u00eatre souscrites ni revendues \u00e0 tout moment), basculant en capital fixe, afin de r\u00e9sorber le nombre de parts en attente de cession\u00a0: Primopierre (g\u00e9r\u00e9e par Praemia REIM), Perial Grand Paris et Perial 02 (Perial AM), Cr\u00e9dit Mutuel Pierre 1, LF Grand Paris Patrimoine et Selectinvest 1 (La Fran\u00e7aise REM), Opus Real (BNP Paribas AM), ainsi qu\u2019Allianz Pierre (Allianz Immovalor). Paref Gestion avait fait de m\u00eame l\u2019an dernier pour sa SCPI Novapierre R\u00e9sidentiel \u00e0 compter du 1er avril 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

Au premier trimestre 2026, les SCPI ont affich\u00e9 un rendement moyen de 1,14%, quasi-stable sur un an, mais avec de fortes disparit\u00e9s selon les cat\u00e9gories.<\/p>\n","protected":false},"author":13709,"featured_media":691,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-la-une"],"acf":[],"yoast_head":"\nSCPI : des performances h\u00e9t\u00e9rog\u00e8nes au premier trimestre 2026<\/title>\n<meta name=\"description\" content=\"SCPI : taux de distribution de 1,14% au premier trimestre 2026, performance globale 2025 \u00e0 1,5%, taux occupation et valeurs des parts en baisse. Le point.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SCPI : des performances h\u00e9t\u00e9rog\u00e8nes au premier trimestre 2026\" \/>\n<meta property=\"og:description\" content=\"SCPI : taux de distribution de 1,14% au premier trimestre 2026, performance globale 2025 \u00e0 1,5%, taux occupation et valeurs des parts en baisse. Le point.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026\" \/>\n<meta property=\"og:site_name\" content=\"Actualit\u00e9s\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-20T09:56:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-content\/uploads\/sites\/12\/2026\/05\/scpi-perf-t1-scaled.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"823\" \/>\n\t<meta property=\"og:image:height\" content=\"463\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Olivier Brunet\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"Olivier Brunet\" \/>\n\t<meta name=\"twitter:label2\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026\",\"url\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026\",\"name\":\"SCPI : des performances h\u00e9t\u00e9rog\u00e8nes au premier trimestre 2026\",\"isPartOf\":{\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-content\/uploads\/sites\/12\/2026\/05\/scpi-perf-t1-scaled.webp\",\"author\":{\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/#\/schema\/person\/f3692b3163890cd1408bd0dc68a1b55a\"},\"description\":\"SCPI : taux de distribution de 1,14% au premier trimestre 2026, performance globale 2025 \u00e0 1,5%, taux occupation et valeurs des parts en baisse. Le point.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#primaryimage\",\"url\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-content\/uploads\/sites\/12\/2026\/05\/scpi-perf-t1-scaled.webp\",\"contentUrl\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-content\/uploads\/sites\/12\/2026\/05\/scpi-perf-t1-scaled.webp\",\"width\":823,\"height\":463,\"caption\":\"Les performances des SCPI contrast\u00e9es au T1 2026\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SCPI : des performances h\u00e9t\u00e9rog\u00e8nes au premier trimestre 2026\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/#website\",\"url\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/\",\"name\":\"Actualit\u00e9s\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-FR\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/#\/schema\/person\/f3692b3163890cd1408bd0dc68a1b55a\",\"name\":\"Olivier Brunet\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\/\/www.toutsurmesfinances.com\/actualites\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/59a19214b7bb3163a27d873fa61f9a80?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/59a19214b7bb3163a27d873fa61f9a80?s=96&d=mm&r=g\",\"caption\":\"Olivier Brunet\"},\"description\":\"Olivier Brunet est cofondateur de\u00a0ToutSurMesFinances.com\u00a0et r\u00e9dacteur en chef sp\u00e9cialis\u00e9 en placements et fiscalit\u00e9\u00a0des particuliers. Pr\u00e9sent\u00a0au sein du\u00a0m\u00e9dia\u00a0depuis sa cr\u00e9ation, il en est l\u2019un des piliers \u00e9ditoriaux. Il analyse les strat\u00e9gies d\u2019investissement,\u00a0suit\u00a0les \u00e9volutions fiscales et les\u00a0probl\u00e9matiques\u00a0patrimoniales\u00a0avec une vision long terme, forg\u00e9e par des ann\u00e9es de pratique et de suivi des march\u00e9s.\u00a0\",\"sameAs\":[\"https:\/\/www.toutsurmesfinances.com\/author\/olivier\",\"https:\/\/www.linkedin.com\/in\/obrunet\/\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SCPI : des performances h\u00e9t\u00e9rog\u00e8nes au premier trimestre 2026","description":"SCPI : taux de distribution de 1,14% au premier trimestre 2026, performance globale 2025 \u00e0 1,5%, taux occupation et valeurs des parts en baisse. Le point.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026","og_locale":"fr_FR","og_type":"article","og_title":"SCPI : des performances h\u00e9t\u00e9rog\u00e8nes au premier trimestre 2026","og_description":"SCPI : taux de distribution de 1,14% au premier trimestre 2026, performance globale 2025 \u00e0 1,5%, taux occupation et valeurs des parts en baisse. Le point.","og_url":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026","og_site_name":"Actualit\u00e9s","article_published_time":"2026-05-20T09:56:44+00:00","og_image":[{"width":823,"height":463,"url":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-content\/uploads\/sites\/12\/2026\/05\/scpi-perf-t1-scaled.webp","type":"image\/webp"}],"author":"Olivier Brunet","twitter_card":"summary_large_image","twitter_misc":{"\u00c9crit par":"Olivier Brunet","Dur\u00e9e de lecture estim\u00e9e":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026","url":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026","name":"SCPI : des performances h\u00e9t\u00e9rog\u00e8nes au premier trimestre 2026","isPartOf":{"@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#primaryimage"},"image":{"@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#primaryimage"},"thumbnailUrl":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-content\/uploads\/sites\/12\/2026\/05\/scpi-perf-t1-scaled.webp","author":{"@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/#\/schema\/person\/f3692b3163890cd1408bd0dc68a1b55a"},"description":"SCPI : taux de distribution de 1,14% au premier trimestre 2026, performance globale 2025 \u00e0 1,5%, taux occupation et valeurs des parts en baisse. Le point.","breadcrumb":{"@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026"]}]},{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#primaryimage","url":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-content\/uploads\/sites\/12\/2026\/05\/scpi-perf-t1-scaled.webp","contentUrl":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-content\/uploads\/sites\/12\/2026\/05\/scpi-perf-t1-scaled.webp","width":823,"height":463,"caption":"Les performances des SCPI contrast\u00e9es au T1 2026"},{"@type":"BreadcrumbList","@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/a\/scpi-des-performances-heterogenes-au-premier-trimestre-2026#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/www.toutsurmesfinances.com\/actualites\/"},{"@type":"ListItem","position":2,"name":"SCPI : des performances h\u00e9t\u00e9rog\u00e8nes au premier trimestre 2026"}]},{"@type":"WebSite","@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/#website","url":"https:\/\/www.toutsurmesfinances.com\/actualites\/","name":"Actualit\u00e9s","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.toutsurmesfinances.com\/actualites\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-FR"},{"@type":"Person","@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/#\/schema\/person\/f3692b3163890cd1408bd0dc68a1b55a","name":"Olivier Brunet","image":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/www.toutsurmesfinances.com\/actualites\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/59a19214b7bb3163a27d873fa61f9a80?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/59a19214b7bb3163a27d873fa61f9a80?s=96&d=mm&r=g","caption":"Olivier Brunet"},"description":"Olivier Brunet est cofondateur de\u00a0ToutSurMesFinances.com\u00a0et r\u00e9dacteur en chef sp\u00e9cialis\u00e9 en placements et fiscalit\u00e9\u00a0des particuliers. Pr\u00e9sent\u00a0au sein du\u00a0m\u00e9dia\u00a0depuis sa cr\u00e9ation, il en est l\u2019un des piliers \u00e9ditoriaux. Il analyse les strat\u00e9gies d\u2019investissement,\u00a0suit\u00a0les \u00e9volutions fiscales et les\u00a0probl\u00e9matiques\u00a0patrimoniales\u00a0avec une vision long terme, forg\u00e9e par des ann\u00e9es de pratique et de suivi des march\u00e9s.\u00a0","sameAs":["https:\/\/www.toutsurmesfinances.com\/author\/olivier","https:\/\/www.linkedin.com\/in\/obrunet\/"]}]}},"_links":{"self":[{"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/posts\/689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/users\/13709"}],"replies":[{"embeddable":true,"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/comments?post=689"}],"version-history":[{"count":1,"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/posts\/689\/revisions"}],"predecessor-version":[{"id":693,"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/posts\/689\/revisions\/693"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/media\/691"}],"wp:attachment":[{"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/media?parent=689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/categories?post=689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.toutsurmesfinances.com\/actualites\/wp-json\/wp\/v2\/tags?post=689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}