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Homeowners considering selling or renting their properties should be aware of a new European regulation that introduces an additional requirement related to energy efficiency. Complying with this regulation will be essential both for signing a sales deed and for formalizing a rental contract.
Until now, it was sufficient to have a valid Energy Efficiency Certificate (EEC) to proceed with the sale or rental. This certificate assesses the state of the property based on its energy consumption and carbon dioxide emissions, assigning a rating that ranges from A to G, depending on the level of efficiency.
New Requirement
Starting in 2030, a new requirement will be introduced for the sale or rental of properties, which could necessitate renovations for many homes. It will no longer be enough to have an EEC; a specific rating will be required.
From 2030, properties will need to have at least an E rating, and this requirement will become stricter over time, with a minimum D rating required by 2033.
If a property does not meet this new requirement, renovations will be necessary. 51.2% of homes in Spain are 40 years old or more, indicating an aging housing stock. Many of these properties may not achieve the necessary rating to be sold or rented. To help cover the costs of these renovations, the Ministry of Housing and Urban Agenda offers a series of subsidies.
These subsidies are not direct financial contributions but tax deductions that vary depending on the energy savings achieved. In cases of economic vulnerability, these deductions can cover up to 100% of the cost.
In other cases, the available deductions are as follows:
– 20% with a maximum of 5,000 euros if heating demand is reduced by 7%.
– 40% with a maximum of 7,500 euros if consumption is reduced by 30% or an energy efficiency rating of A or B is achieved.
For homeowner associations, the deduction can be up to 60%, with a maximum of 15,000 euros. To apply for these subsidies, one must go to the Rehabilitation Office of the corresponding autonomous community and begin the necessary procedures there.
In addition to improving energy efficiency, other renovations can significantly increase the value of a property:
1. Kitchen and Bathroom Renovations
Kitchens and bathrooms are key areas for buyers. A modern, functional kitchen not only enhances aesthetics but also the practicality of the space. It is recommended to install high-efficiency appliances, granite or quartz countertops, and high-quality cabinets. In bathrooms, installing rain showers, contemporary design fixtures, and high-end accessories can completely transform the environment, making it more attractive and functional.
2. Space Expansion
Creating open, bright spaces continues to be a popular trend. Removing walls to create open floor plans can make a home feel more spacious and welcoming. Additionally, building terraces or adding a balcony can provide extra appeal, especially in cities like Madrid, where outdoor spaces are highly valued.
3. Exterior Renovations
First impressions are crucial, and the exterior appearance of a property is fundamental. Improving the facade, garden, or renovating the entrance can be investments with a high return. An attractive exterior not only enhances the aesthetic value but also the market value of the property.
4. Updating Electrical and Plumbing Systems
Having updated electrical and plumbing systems not only ensures safety but is also a selling point for buyers. Replacing old wiring, installing modern plumbing systems, and ensuring all systems comply with current regulations can significantly increase the value of a property.