Tag Archives: renting property spain

Would you pay more for an energy efficient property?

Slightly more than half of house buyers and tennants (52%), say they would be willing to pay more for a more energy efficient home, according to a survey by Look & Find.

In light of these results, it seems that the energy efficiency certificate, which has been compulsory for all property transactions in Spain from June 1st, might have become a relevant factor in the decision to purchase or lease a property.

These new certificates do not only include an energy rating of the home, but also recommendations for improving its energy efficiency and a financial assessment on the costs and their amortization by means of energy savings.

However, over 90% of property owners looking to sell or rent do not yet known they have to acquire this certification.

An Energy Performance Certificate for Buildings is now needed to sell or let Spanish property.

The Energy Performance Certificate for Buildings is a European initiative to promote energy efficiency in existing buildings and new constructions that has come into force this year 2013. From now on, potential buyers or tenants of a house, flat or commercial premises, will require from the owner of the property an official energy rating. This classification, similar to that carried by white goods, may influence their decision on the purchase or lease, as it is obviously in their financial interest to buy or rent an energy efficient building, other than one with high energy consumption levels.

Promoting energy efficiency in buildings is aimed at achieving a reduction in overall energy consumption of fossil fuels, with a subsequent reduction in greenhouse gas emissions and in the country’s energy dependence, as well as, in the medium term, saving money for many families.

In the long term, the energy certification of buildings could also be used by local and central governments to regulate the various taxes, tax incentives, grants, etc., related to the purchase or lease of properties, rewarding more efficient buildings.