As expected as a member of the European Union, real estate in Spain will also be affected by the new European legislation on energy efficiency, efficiency and sustainability, in short, the mandatory energy certificates for real estate, both homes and apartment complexes.
Later in this article you will read that there is no problem with new construction. The new-build homes, both apartments and villas on the Spanish Costas already meet all future European requirements in terms of energy consumption and sustainability for the future.
In practice, the market for existing homes is confronted with a completely different story. And strangely enough, little attention is paid to this or the item is even completely concealed, or not discussed, by the providers of existing homes and apartments for resale. Later in this article you can read more about the energy certificates of old(er) villas and apartments in Spain. In practice you can say that with a property built after 2007-2010 there will be no problem. However, if the building was built before this period, it could be a completely different story, unfortunately this is a sad reality.
At Sublicasa, we have been informing our customers for years about this possible problem and the long-term dangers when purchasing older properties. And especially of course for the long-term financial impact related to renovation costs, which are often forgotten when purchasing older real estate in Spain.
Research shows that in Spain 80% of real estate currently does not meet the climate requirements of the European Union and has an energy label lower than E. These buildings will have to be renovated to meet the requirements. So we are talking about 4 out of 5 existing buildings where significant renovations will have to be carried out.
The European Commission approved this new law in March 2023. The energy labels awarded range from A to G.
The goal is to have all homes in the European member states emission-free by 2050.
From 2030, all buildings will have to have an energy label E, and subsequently all residential buildings will have to comply with class D. Classes F and G are excluded.
By 2033, all properties, houses and apartments in Spain that are rented or sold must have at least a D energy certificate, or lower.
If the energy class of your Spanish home or residential complex does not meet the requirements in the future, this does not mean that the building will be demolished. But the necessary renovation works, i.e. expensive investments, will have to be carried out to achieve the standards. Applying or improving insulation, double glazing, installing heat pumps, solar panels, etc.
When you are thinking about investing in the purchase of an existing property on the Spanish Costas, it is highly advisable to take into account the new European legislation on energy consumption and sustainability.