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Transforming Real Estate: How Eco-Friendly Homes and Energy Savings are Shaping the Market

“The real estate market is constantly developing for more environmentally friendly and energy-efficient solutions,” said Michal Vacek, director of the CEEC Research analytical company.

In their latest survey, three quarters of the companies interviewed confirmed that their clients are asking them more than before if there are energy saving elements in their projects. These could be solar panels or heat pumps.

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The findings of the study are also supported by the experiences of direct actors in the real estate market. They have been aware of the changes for a long time. The turning point was mainly the sharp increase in energy prices after the war started in Ukraine, which made some households interested in, for example, installing solar panels on their houses. This in turn led apartment buyers to ask about potential savings when looking for properties.

“Over the past two years, the percentage of people who are actively interested in environmentally friendly housing and ask us about different options has clearly increased,” said Dana Bartoňová, sales director of YIT Stavo.

At the same time, the trend is reflected not only in buying apartments. “Tenants also notice this when they are looking for a new rental and continue to evaluate the total amount of housing costs,” said Michal Hrbatý, director of UlovDomov.cz.

Like developers, banks also talk. They recorded a higher number of applicants for mortgages that were used specifically for the purchase or construction of low-energy buildings. For example, Martin Vašek, CEO and Chairman of the Board of Directors of ČSOB Hypoteční banka, said that this type of property is popular mostly among people under 36 years of age.

Banks give discounts

Bankers are trying to support the move. It helps them comply with European regulation, which aims to make businesses more sustainable. This is also why you can find discounted mortgages for low energy buildings in the price range in Czech banks.

When evaluating applications, financial houses guide themselves according to the certificate called the energy performance of the building, simply put, the energy label. It classifies buildings in the same way that people are used to household appliances.

If people take out a mortgage on a property in the top two categories A and B, they get a lower interest rate and other benefits, such as discounts on insurance. The rate on the market is a rate reduction of 0.1 percentage point, while the aforementioned ČSOB is reducing it by 0.2 percentage point for “green” mortgages.

For an average mortgage of 3.77 million crowns with a maturity of 25 years, every tenth point means a discount of more than 200 crowns per month.

However, those interested in eco-friendly buildings must expect to pay more compared to standard apartments and houses. Developers plan higher costs of energy saving technologies into the final prices. “In the projects where we have them, we move from an average price of 10 to 15 percent,” said Marcel Soural, head of the Trigema development group.

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Transforming Real Estate: How Eco-Friendly Homes and Energy Savings are Shaping the Market

2024-08-28 06:03:52
#Czechs #began #buy #economic #properties #favorable #mortgage #News

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