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Incentives for efficient homes

We are all living in times of concern for energy efficiency as we face higher utility costs and a complicated heating system that does not seem to want to improve. The subject of energy efficiency remains one of the main problems that is pending resolution by the national real estate sector.

It is not just an impression, since data exists on the matter. For example, the AECTIR (Agency Spain Certified in Infrared Thermography), experts in appraisals and valuations in this field, confirm that there are almost two million homes that have been absolutely obsolete from the energy efficiency point of view. This leads to increases in the consumption of electricity and heating costs.

The new real estate development industry is no stranger to this reality. The developers respond to a growing interest from buyers who opt for sustainable homes and expect them to be energy efficient. The real estate industry however, is left with many unsold homes that suffer from lack of sustainability. 

Madrid - eco-homes.jpg

According to all the analysis, the relationship between the initial costs and the subsequent benefits of buying an efficient building is a very positive aspect for the buyer. The slightly higher price of an efficient home more than compensates for the savings that will be achieved in energy as well as for increased comfort and quality of life. 

But to this day, it seems imperative to push the real estate industry towards taking official measures that somehow subsidise the construction of sustainable and efficient buildings. Incentives do exist in the car industry, such as tax breaks applied to the automotive sector, in the so-called Movea plan, which was aimed at the renewal of the automobile fleet with the acquisition of vehicles powered by alternative energies, whether through electricity, liquefied gas or compressed natural gas.

This is precisely the claim of developers and real estate firms to apply some kind of incentives or bonuses in order to make it possible for the modernisation of all construction processes to be the hallmark of the sector.

As part of the indication in the possibility of taking measures in this direction, the current government has announced a new project that plans to promote rental housing, building renovation and urban renewal, which would include subsidies directed to the improvement of building quality and its energy efficiency. For this project, a budget of 321 million euros has already been granted.

Engel & Völkers

Génova, 27 - 5th floor
28004 Madrid
+34 91 277 45 00

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