What will happen to real estate in Spain in the future?
85% of real estate in Spain will become illiquid by 2033, and this is an inescapable trend that has appeared under the microscope of research by Masteos and The Fringe Labs. This sad prediction is due to changes in EU legislation, according to which every owner planning to sell or rent a home is required to obtain an energy certificate of at least category D by 2033.
This factor leads to a sharp increase in the number of real estate objects that become unsuitable for turnover on the market. The study also showed that similar restrictions are already in effect in various EU countries, highlighting the seriousness of the situation. For example, in France, starting from 2022, rents cannot be increased for facilities with the lowest energy certificate, and from 2023 it is completely prohibited to rent such housing.
Another notable aspect of the problem was the high rate of heat loss in Spanish homes. Tado's intelligent thermostats have revealed that Spain ranks fifth in Europe in this indicator, second only to the United Kingdom, Belgium, France and the Netherlands. Old houses are particularly affected, which often turn out to be less energy efficient compared to new buildings. Statistics confirm that 67.6% of houses in Spain are at least 23 years old, and 36.2% are even older than 43 years.
The topic is also relevant for foreign buyers of real estate. The share of transactions with foreigners in Spain amounted to 15.4% of all sales in the third quarter of 2023. This was the second most important result after the record figure in the third quarter of 2022 (15.9%).
In order to avoid the risks associated with a future liquidity crisis in the Spanish real estate market, it is worth paying attention to several key points. The first and most obvious solution is to purchase a new building. These facilities tend to meet modern energy efficiency standards, which makes them less susceptible to future changes in legislation.
It is also important to pay attention to the energy certificate of the building when choosing an object. This document becomes a key acquisition, as it gives a clear idea of how energy efficient the facility is. Investors should be prepared for a thorough analysis and verification of certificates in order to avoid undesirable consequences in the future.
But there are also positive aspects. Spain provides subsidies for repairs and energy efficiency improvements. This opportunity is provided by the European Commission, and applications can be submitted through the rehabilitation bureaus of the autonomous communities.
In conclusion, it is important to emphasize that energy efficiency is becoming an integral part of the Spanish real estate market. Investors, whether they are local residents or foreign buyers, need to be attentive to changes in legislation and market requirements. Based on these factors, choosing the right facility and paying attention to energy efficiency will help avoid liquidity losses and ensure stability in the long term.
