A housing ‘armageddon’

All properties available for sale or rent must incur compulsory energy upgrade costs, costing tens of thousands of euros, from 2030 onward, based on what is stated in the relevant European Union directive.

The bill to that effect was passed on Tuesday by the European Parliament with 343 votes in favor, 216 against and 78 absent. Negotiations with the European Council will follow, in order to further specify the relevant measures and to start the period of their adoption by the member-states. Based on what was adopted, owners who wish to transfer or rent out their property should have previously taken care to upgrade it in terms of home energy provisions. In the case of housing, this will start to apply from 2030. This obligation will only concern properties that are classified in the two lowest categories of the energy certificate and are either sold or leased (with new...