The energy upgrade challenge

The energy upgrade of properties represents a big challenge over the next four years, as the country will have to spend many billions of euros to meet target.

There is margin for inactivity, as the European Union is preparing to approve a directive setting a strict timetable for improving the energy profile of buildings and introducing penalties: Low-energy-class properties will not be able to be sold or rented.

For Greece, a country with 4.5 million buildings - of which six out of 10 are more than 40 years old - achieving the target is considered extremely difficult, and may even lead to massive changes in their ownership status.

The challenge is for the necessary renovations of properties aimed at reducing energy consumption not to be carried out at the expense of owners with the lowest incomes. Several billion euros have been allocated in recent years via...