This obligation will only apply to facilities classified in the two lowest categories of the energy certificate. and either sold or leased (with new leases).

commercial real estate (e.g. offices, shops, warehouses, etc.) and property used by the state they must reach the same target by 2027 (for category E) and 2030 (for category D), and if they are subject to a new lease or sale.

So, for example, an apartment in the center of Athens, which is currently in category G of the energy certificate, must be subjected to energy modernization works worth 15,000-20,000 euros so that it is insulated and can be energy upgraded in accordance with the required two categories, for example. in category E. However, from 2033, the minimum “growth” is set in the immediately higher category D.

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The president of the Panhellenic Federation of Property Owners (POMIDA) as well as the International Union of Property Owners (UIPI), Stratos Paradias, speaks of “Armageddon” that will bring great shocks to private property. “In the EU, completely non-territorial obligations are currently being adopted, which no owner in any European country can support. They don’t care if the Greek family has the money to carry out energy modernization measures, if there is a possibility of support from the banking system, if there are tax incentives for those who do it, if there are technical capabilities that will allow for the correct implementation of upgrades, if there are construction materials and at what cost.

They will not be sold or rented – What does the EU directive provide? for which voted yesterday in the European Parliament.

In practice, more than 50% of the country’s building stock, or 2.2 million properties according to the 2011 census, will be unsaleable by 2030. and then, if investments of tens of billions of euros are not forthcoming, until then. This dimension applies to all buildings built from the end of World War II to the end of the 1990s.

Most of these buildings lack thermal insulation, which is a major component of energy retrofits to reduce energy consumption and therefore pollutant emissions. Today, a building from the 60s remains in the lowest category of the energy certificate, even if it was, for example, the installation of aluminum energy frames.

POMIDA has calculated that to upgrade an existing warehouse building to category C of the energy certificate, the necessary funds reach 30 billion euros. This amount is increased to more than 70 billion euros to meet the target set at the EU level. retrofit all buildings by 2050 to be considered zero emissions.

In general, in the EU, the relative cost in today’s prices is estimated to require funds of at least 1.5 trillion. euros, while only 150 billion euros (in the form of subsidies) were allocated. This directive is part of the “Fit for 55” package, which raises the EU’s energy transition goals. towards a greener future. E.E. buildings they account for 40% of energy consumption and 36% of greenhouse gas emissions.

TEE Regulation

In turn, Mr. Giorgos Stasinos, President of TEE, notes that “it is very important that a clear and strict schedule for energy modernization is now established for buildings that are included in the lower categories of the energy certificate.

However, as a TEE, we believe that there should be a public concern and perhaps some relevant legislation at the national level that makes mandatory the static control of all buildings that will have energy efficiency measures, especially those that have been built before 1985.

Energy efficiency standards set by the Commission are high

According to the pan-European federation of property owners UIPI and the Greek POMIDA, “the revision of the EPBD directive aims to upgrade the European building stock to zero emissions (ZEB) by 2050. In a December 2021 proposal, the European Commission introduced a commitment for member states to phase out their worst-performing buildings by setting pan-European energy efficiency standards. These so-called Minimum Energy Performance Standards (MEPS) are based on a common upgraded energy performance certification system where, as proposed by the European Commission, the worst 15% of each national building stock would be classified as category A, with category A reserved for “zero emission buildings”. “.

The European Commission’s goal was to have all buildings in Europe reach Grade E by 2033, but following a vote in the European Parliament’s Industry, Research and Energy Committee, the bar has been set even higher, calling for all buildings in Europe to be at least Grade D. no later than 2033.

This would potentially affect more than half of the stocks in every European country, according to UIPI. Excluding, where permitted, officially listed buildings and second homes, Member States will have to renovate between 40% and 45% of their real estate sector in eight years. In fact, it does not stop there, as Parliament requires Member States to implement additional and higher national targets for the remaining stock after this date, the Union stresses, noting that it will take some time before the European directive is incorporated into national legislation. .

Changes also for new buildings after 2028

The changes will also affect new buildings. According to the directive, every new building that will be erected from 2028 must be zero-emission, i.e. equipped with solar panels to ensure its energy autonomy, heat pumps, high-quality thermal insulation and other infrastructure. In the case of newly built facilities owned or operated by public authorities, the relevant deadline for them to become net-zero is 2026. That is, in less than three years, any new construction intended for use by a public entity, whether owned or leased, must be zero-emissions.

Each Member State will have the opportunity to pursue individual policies to achieve the goals of energy modernization. At the same time, these provisions will exclude social housing buildings (of which there are few in Greece), monuments, churches and other special categories, for example. monuments of architecture and historical objects. In addition, the opportunity is given, with the exception of a small percentage of the building stock, to alleviate the most vulnerable social groups.

However, according to Mr. Paradias, “we will face the drama of a large part of society, especially the elderly, when the value of their property evaporates because they can do nothing at all to save it,” given that the intervention that wills require is especially large costs and beyond the means of the Greek family.

If some support, some significant incentives and some tax breaks are not provided, no one will be able to respond, and as a result, properties will be taken out of the rental market, which will exacerbate the already large problem of a shortage of rental housing in the market, which also putting pressure on the rental prices of new leases.”

According to him, “each house that is rented out after a long lease requires 25-30 thousand euros for repairs under the new rules, so we see that these houses are either blocked or sold. It is necessary to create tax and other incentives so that there are landlords on the real estate market who rent out their houses, since the state does not have one.”

The market believes that if generous subsidies are not provided for the energy modernization projects that will be required, there will be very serious consequences by passing the corresponding costs on to future buyers and tenants of the property, which will exacerbate the housing situation. even more problem. Those owners who cannot afford it will simply choose not to use their property, further reducing the already low supply, thus contributing to the valuation “spiral” seen in the property market.
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