Energy upgrades boost value up to 76%

• 1 August, 25

There are many potential benefits from treating a home to an energy upgrade, especially those still classified in the two lowest categories of the energy certificate.

According to a relevant analysis by ReDataset, the Data & AI Department of Resolute Cepal Greece (RCG), depending on the area and the existence of a sufficient stock of “green” homes, some very significant price differences can arise, reaching even 76% in favor of the energy-upgraded property, compared to the non-upgraded one in the same area. 

The difference in price is not only due to the category of the energy certificate, given that generally the most energy-efficient properties tend to be of newer construction, which also contributes to the increase in price. However, no one denies that a renovated and energy-upgraded home can ensure a significantly higher sales price.

In the center of Athens, 34.5% of the homes available for sale belong to the two lowest energy certificate categories. The asking price is 2,020 euros per square meter, compared to €3,330/sq.m. for apartments in the highest categories (from B and above), which are almost 40% more expensive.

Even more significant are the differences between green properties and those in the two lowest categories, in areas of the western and southern suburbs. For example, in Peristeri, a green house is sold for €2,870/sq.m. or 76% more expensive than a non-upgraded apartment. In Aigaleo the difference reaches 70.5% (€2,760/sq.m. compared to €1,620/sq.m.). Accordingly, in the Municipality of Elliniko-Argyroupoli the difference between a green house and an older and non-upgraded one approaches 70% (€5,000/sq.m. compared to €2,940/sq.m.).

However, another factor should now be taken into account that can act as an incentive for the implementation of energy upgrade projects and in particular the replacement of heating systems, oil or gas, with newer technologies that do not use fossil fuels, such as heat pumps.

From January 1, 2027, a new EU regulation will come into force, under which fossil fuels, namely gasoline, oil, gas and any other fuel that emits pollutants and is used in buildings for heating, in road transport or in small industries, will be subject to a new pollutant tax.

Cre: ekathimerini