How the new EU regulations for real estate significantly reduce the obligation to renovate buildings.

How the new EU regulations for real estate significantly reduce the obligation to renovate buildings.

According to a report by www.n-tv.de,

The EU Parliament and the Council of Member States have agreed that there will be no mandatory renovation requirement for homeowners, as was originally intended by the EU Commission. Instead, the average energy consumption in the building sector should be reduced by at least 16 percent by 2030 and at least 22 percent by 2035. In addition, 16 percent of the worst renovated non-residential buildings must be renovated by 2033. The installation of solar systems will be mandatory if it makes technical and economic sense. Heating systems using fossil fuels must be replaced by 2040 and the installation of new oil or gas heating systems will no longer be subsidized from 2025.

This decision is likely to lead to an easier situation for property owners, as the feared costly forced renovations will no longer be necessary. Although energy saving targets still need to be achieved, the responsibility largely lies with the respective Member States, which can lead to more flexible implementation. This could help stabilize the property market by reducing uncertainty and financial pressure for homeowners.

Additionally, solar and renewable energy sources will now have a greater focus in the real estate sector, potentially leading to increased interest and investment in this area. The need to renew heating systems will increase the demand for modern, energy-efficient systems and stimulate industry in this area. Translated into opportunities and possibilities for the real estate market and the industry as a whole.