Almost a third of property owners in Germany would only carry out energy-efficient renovations if they were legally obliged to do so. This is the result of a study by ING-Direktbank. Despite the potential to increase property values and rents through such improvements, there is great reluctance. This hesitation is partly due to the confusion and uncertainty caused by constant changes in the subsidy programs. The respondents state that they have lost track of the available funding opportunities.
Financial incentives appear to play an important role, as around 18% of respondents would consider renovations if the costs were fully covered by grants or tax relief. A further 9 percent would carry out a refurbishment if at least part of the costs were covered. The study also shows that simply informing people about environmentally friendly construction methods is not enough to drive forward the necessary conversion of the building sector.
In view of the growing importance of energy efficiency and the corresponding regulations, rents and sales prices for energy-efficient buildings are rising. Condominiums with high energy efficiency achieve significant price premiums. By contrast, real estate experts expect price reductions of 20 to 30 percent in the medium to long term for properties with energy efficiency class D or worse that have not been refurbished.
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