EU legislation on green homes is already significantly influencing the Italian real estate market, pushing both sellers and buyers to review their strategies in response to new energy efficiency requirements. According to a survey commissioned by Facile.it to mUp Research and Bilendi, for example, almost 2.5 million Italians have decided to put their homes up for salescared of the potential restructuring costs needed to adapt to the new directives.
Green homes, who is looking for them
The legislation green houses, which aims to improve the energy efficiency of buildings, is also influencing buyers. Around 3 million Italians looking for a new home have changed theirs selection criterialimiting the search to only those homes that are already efficient and compliant with EU directives. This trend is particularly evident in the regions of northwestwhere 60% of shoppers expressed this preference, compared to a national average of 50%.
In contrast, nearly 800,000 Italians are deliberately seeking low-performance housing energy in the hope of save on the purchase price. This phenomenon is more common in the regions of Central Italy, where the percentage reaches 18%, compared to a national average of 13%.
EU green homes directive, the buildings affected
The EU directive could concern up to 5 million residential properties in Italy, with renovation costs estimated between 20,000 and 55,000 euros per family. These significant costs are generating concern among many Italians. The survey reveals that 43% of those who are aware of the rule are frightened by the prospect of having to face these expenses, so much so that many are considering selling their homes to avoid these financial burdens.
However, not everyone is worried. 15% of those interviewed are confident that the state will offer help to cover renovation costs. This belief is particularly widespread in Central Italy, where the percentage reaches 18%. Furthermore, around 2.9 million Italians believe that the legislation will never actually be implemented in Italy, with a percentage reaching 10.5% in the North West, compared to a national average of 9%.
Green mortgage to support renovation costs
The experts at Facile.it underline the importance of the financial tools available to help families cover the renovation costs. Among the options available are renovation mortgages and personal loans. For small amounts, up to 40-50,000 euros, personal loans are preferable as they do not require real guarantees, making them more accessible for those who already have mortgage financing. The simulations of Facile.it and Prestiti.it show that a 35,000 euro loan to improve energy efficiency, to be repaid over 10 years, it could have a TAN of 7.5%, with a monthly installment of 415 euros.
For higher amounts, for example over 60,000 euros, the renovation loan is the right option. A loan of 60,000 euros over 20 years, on a property worth 200,000 euros, could have a TAN of 3.10%, with a monthly installment of 335 euros. If the renovation brings the home to an A or B energy class, allowing access to green mortgages, the rates drop further, with TAN starting from 2.70%.
