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The capacity of the state to influence the accumulation of real estate assets is strongly established by regulation theory and radical geography. Yet, to date, the geographical forms of this mechanism remain under-studied. This paper therefore analyses the geographical perimeters of eligibility for five real estate investment aids in France over the period 2003–2019. Drawing on this study, we underscore the growing importance of geographical criteria for access to state support for the accumulation of real estate assets. We highlight the contrast between, on the one hand, the relegation both financially and geographically of aid for access to social home ownership, and, on the other, the concentration of state support for rental investment in high demand areas. In addition to shedding light on the geographical unevenness of the mode of regulation, the article suggests that the spatial selectivity of the state entails a segmentation of the national space aimed at household investors.