According to Sören Gröbel from Jones Lang LaSalle (JLL), the costs of energy-saving renovations for older, unrenovated houses are now being deducted almost one-to-one from the purchase price. This is due to stabilized construction costs and decreases in some trades, as well as stabilized financing costs following a rise in interest rates. As a result, properties with poor energy performance have experienced a slight stabilization in value.
The new study by real estate experts also reveals that the price difference between properties with top energy efficiency ratings and the worst ratings has decreased slightly. This indicates an increased importance of energy efficiency in purchasing decisions, particularly with rising electricity and gas prices. However, selling unrenovated properties remains a challenge, especially in rural areas where owners may have to compromise more on the price compared to those in cities.
Despite these challenges, there is hope for improvement in the real estate market. The federal government’s new law on heating replacement has caused uncertainty in the market, but efforts to improve energy efficiency in properties could lead to a more balanced market in the future. Properties with poor energy performance may still experience a decline in value, but this trend has at least come to a halt for now.
