Engel & Völkers Licence Partner Malta Regional Market Center > Blog > How renovation measures help to reduce your energy costs and maintain the value of your property

How renovation measures help to reduce your energy costs and maintain the value of your property

Renovating your own four walls is always associated with high costs - these can quickly exceed the planned household budget. That is why we have summarised the most important topics for you, so that you can optimise the quality of living and life in your home.

- How renovation measures can reduce the energy costs of your property ▶ Efficiency House standards✓ Photovoltaic systems✓ Financing tips✓

The renewal of windows and doors is essential

Doors and windows are the weakest link in a house. Leaky windows in particular are a real problem: this means that about one quarter of the total heating energy escapes. Old doors and windows allow two to three watts of heat per second and square metre to escape between the inside and outside area at a temperature difference of only one degree. If you replace windows and doors when you renovate your house, heat losses can be reduced thanks to modern technologies and building materials.

Efficiency House standards: modernisation support

With effective modernisation measures you can bring your property up to the standard of a passive house or a KfW Efficiency House. In this case, KfW will grant you a one-off subsidy or a low-interest loan. Even the renewal of the heating system or improvement of the insulation can be subsidised. It is therefore advisable that you inform yourself in good time about possible subsidy programmes.

Alternative savings opportunities through renewable energies

Wind and solar energy, geothermal energy, biomass and hydropower are not only unlimitedly available as renewable energies, they are also environmentally friendly. Thus, the already existing resources of nature are used and money is saved.

1.    Photovoltaic systems: the sun as energy source

You can generate heat from the unlimited energy of the sun: solar thermal systems with solar collectors make the heat of the sun readily available. This means that this energy does not have to be converted first, as with conventional heating systems. In this way, the heated water can be used for heating, showering and for the washing machine and dishwasher.

Solar power can of course be used to generate not only heat but also electricity. Photovoltaic systems that convert the sun's energy into electricity are suitable for this purpose. This process does not produce particulate matter or carbon dioxide, as is the case in coal-fired power plants. The resulting energy can either be used for personal use or fed into the public grid. With a photovoltaic system on the roof, you can ensure a sustainable energy supply, making you more independent of rising electricity prices. 

2.    Heat generation through geothermal energy and biomass

A few meters below the earth's surface there is a huge heat potential: geothermal energy. With a suitable pump, this regenerative heat source can be tapped and used for heating the home in the winter months. The following rule applies here: the deeper you drill, the more energy becomes available. You can use geothermal energy as a heat generator throughout the year. Moreover, a heating system of this type usually does not require a heat storage tank.

Biomass energy is produced from renewable raw materials such as liquid manure, wood or organic waste. When these substances are burned, the stored energy is released and finally generates heat. The biomass can be used flexibly and is available day and night. So, if you heat with a fireplace or furnace, you effectively protect the environment and save money at the same time.

3.    Another environmentally friendly option: combined heat and power generation

In this process, mineral oil or gas is burned in a combined heat and power unit instead of a boiler: this generates electricity. A small combined heat and power unit uses the fuel much more efficiently than a conventional heating system. As the owner of the installation, you can feed the electricity generated into the public grid. You also have the possibility to use the heat generated to heat your home.

Financing the house renovation

Before renovating your property, ensure you have sufficient financing. It is therefore important that you think in advance about how much money you want to spend on what in order to set yourself a financial framework. Then get cost estimates from different companies - so you can compare prices, services and materials. On the basis of these offers you can realistically calculate the total costs for the modernisation work on and in your property.

Renovation and value preservation: conclusion

Modernising your house pays off in every respect: less energy consumption also reduces energy costs. This also increases the value of your property. The conversion measures not only improve the quality of your home, you also make an active contribution to environmental protection.

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Real Estate for Sale and To Let  with Engel & Völkers

Engel & Völkers Sara Grech is the luxury real estate agent that specialises in exclusive properties for sale and to let in Malta. With more than 30 years’ experience, we are one of Malta’s most successful real estate agencies

Located in the heart of the Mediterranean Sea, Malta is a thriving cultural hub that has long been a popular destination amongst expatriates and tourists alike. Partnered with the real estate agency Engel & Völkers, finding a property for sale or rent in Malta is a breeze, and in no time at all, you'll have a spacious apartment with a view or a villa with numerous bedrooms to call your own.

Living and working in Malta

Home to more than 450,000 inhabitants, Malta is the smallest country to join the European Union in 2004. In 2008, it became part of the Eurozone. Though Malta is well-known as a popular tourist destination with plenty of recreational areas and historical monuments including nine UNESCO world heritage sites, it is not known for its luxury properties and real estate for sale and rent! Besides having first-class accommodation, Malta is home to numerous companies and industries ranging from banking and financing to construction, retail, and i-gaming. Working in Malta requires the proper permits, and those seeking employment are encouraged to find a suitable job before moving into their purchased or rented property.

A new residency scheme was launched in June 2013 which allows people to buy a high-value property and pay taxes in Malta to benefit from the residence permit. Under the new Global Residence Programme, the value of immovable property bought in Malta by foreigners has a minimum threshold of €275,000. However, when the property is in the South of Malta or on the sister island of Gozo, the minimum value is reduced to €220,000. This new scheme also allows persons eligible if they wished to rent a property and this has been lowered to €9,600 in Malta and €8750 in Gozo or the South of Malta. The minimum tax to be paid under this scheme is a minimum of €15,000 on income derived in Malta, further income arising in Malta shall be taxed at a flat rate of 35%.

Real estate and property for sale and rent in Malta

Malta has several Special Designated Areas that offer a wide variety of properties to buy or rent! Whether you are looking for a new luxury apartment with views of the Portomaso marina or an expansive villa situated in Santa Maria Estate, our team will help you find a property for rent or sale that suits your needs. From apartments with a view to villas with several, we have it all.

After you've purchased property

For such a small island, Malta is packed with amazing things to see and do. From visiting historic sites to relaxing on beautiful beaches. Visitors can take their pick of activities which will suit any mood or taste.

A selection below are the top destinations that any person should see when coming to Malta. These include Valletta; Mdina; Paceville; Blue Lagoon (Comino Island) and Gozo

Valletta recently voted the European Capital for Culture for 2018 is also a UNESCO World Heritage Site. Valletta is the hub of tourism in Malta and for good reason. It is full of historical significance, with the likes of St John’s Cathedral, forts, and museums and much more squeezed into a tiny area. As far as beautiful towns go with plenty to see, Valletta is up there with the best.

Mdina is known as the jewel in the crown of Malta and it is a fair assessment. The walled city is full of tiny alleys which you can wind your way through, stumbling across beautiful churches and museums along the way. Now effectively part of the town of Rabat, this definitely shouldn’t be left off your Maltese itinerary.

Malta has a reputation for being a destination for the older generation, but Paceville puts lie to that. This is where the youngsters come to drink and party and you can rely on having a good evening out here. It’s not just loud music for teenagers either; there are plenty of civilized bars and restaurants if you don’t want to rave into the early hours.

A beautiful area of clear blue water which is fantastic for swimming and is the perfect place for a day out at the beach. Arguably the best place for swimming in the whole Mediterranean, the Blue Lagoon is located on the island of Comino.

Just a 30-minute ferry trip away from Malta, Gozo is a beautiful, rural island which gives you a glimpse into what Malta looked like a few decades ago. Sleepy villages, rugged coastline, and beautiful countryside all make this a fantastic place to visit. But one of the main draws is the diving off the coast. Malta has been named as one of the best places to scuba dive in the world, and Gozo is one of the best spots to do it.

No matter where your interests lie, Malta has you covered; with Engel & Völkers Sara Grech by your side, your home in this beautiful part of the world is also covered. Contact us today to find out more about our villas, apartments and other properties for sale and rent!

For more information on Malta and our Real Estate Services please click on the following: 

Malta the Perfect Location l Exclusive Properties l Buying a Property in Malta and Gozo l Expenses when Buying a Property l Energy Performance Certificate l First Time Buyers l The Malta Individual Investors Programme l Buy to Let l Special Designated Areas