Post by account_disabled on Feb 20, 2024 4:03:25 GMT -5
Homeowners in France will have to face new restrictions and impositions on renting poorly insulated properties. The regulations, which came into force in 2023, will be introduced gradually, with the intention that homeowners renovate two-thirds of a total of 37 million homes by 2050.
The renovations are necessary to reduce greenhouse gas emissions , as a third of carbon emissions come from buildings, which also account for almost half of France's energy consumption. For their part, households account for the remaining two-thirds of carbon emissions.
A single regulation in Europe
The new rules, unique in Europe, pose a problem Chinese Student Phone Number List for historic homes, which are the majority in places like Paris, Alsace or Provence . With the property stock problem affecting the real estate market, the most critical consider that these measures could worsen the situation, which would increase social unrest at a time when high inflation especially affects households.
To encourage renovations to occur, homes are classified from A to G, according to their energy efficiency, before being sold or rented. Those with the worst ratings will gradually exit the rental market over the next decade. To carry out the necessary reforms, the government will provide public money to the owners.
It is expected that by 2028, around 5.2 million properties classified as F or G, the worst ratings, will no longer be rental options, which represents 17% of the total properties in stock. In 2034, the same will happen with those that have an E grade in the classification, which would expand the range to 40% of the homes on the market.
So far, no European country has applied this type of measures. Germany has banned gas boilers and approved a tax on the carbon dioxide emitted by heating, while Belgium and Austria have changed regulations to facilitate renovations in homes with multiple owners.
Marseille, Bordeaux or Lyon will be especially vulnerable
France has promised to increase aid for renovating homes to 5 billion euros, compared to 3.4 billion a year ago. However, the green party has considered this figure insufficient, which they believe should reach 25 billion euros.
Cities such as Marseille, Bordeaux or Lyon are especially vulnerable to this regulation, since they have more stock problems than other areas of the country, as real estate agents point out. There are also concerns that renovations will not provide sufficient profitability for owners in cities with very strict rental regulations.
This has led many owners of properties rated F or G to decide to try to sell their homes. Not in vain, around 20% of the total homes for sale in the first half of 2023 were on this list, data that doubles what was recorded in 2021.
The renovations are necessary to reduce greenhouse gas emissions , as a third of carbon emissions come from buildings, which also account for almost half of France's energy consumption. For their part, households account for the remaining two-thirds of carbon emissions.
A single regulation in Europe
The new rules, unique in Europe, pose a problem Chinese Student Phone Number List for historic homes, which are the majority in places like Paris, Alsace or Provence . With the property stock problem affecting the real estate market, the most critical consider that these measures could worsen the situation, which would increase social unrest at a time when high inflation especially affects households.
To encourage renovations to occur, homes are classified from A to G, according to their energy efficiency, before being sold or rented. Those with the worst ratings will gradually exit the rental market over the next decade. To carry out the necessary reforms, the government will provide public money to the owners.
It is expected that by 2028, around 5.2 million properties classified as F or G, the worst ratings, will no longer be rental options, which represents 17% of the total properties in stock. In 2034, the same will happen with those that have an E grade in the classification, which would expand the range to 40% of the homes on the market.
So far, no European country has applied this type of measures. Germany has banned gas boilers and approved a tax on the carbon dioxide emitted by heating, while Belgium and Austria have changed regulations to facilitate renovations in homes with multiple owners.
Marseille, Bordeaux or Lyon will be especially vulnerable
France has promised to increase aid for renovating homes to 5 billion euros, compared to 3.4 billion a year ago. However, the green party has considered this figure insufficient, which they believe should reach 25 billion euros.
Cities such as Marseille, Bordeaux or Lyon are especially vulnerable to this regulation, since they have more stock problems than other areas of the country, as real estate agents point out. There are also concerns that renovations will not provide sufficient profitability for owners in cities with very strict rental regulations.
This has led many owners of properties rated F or G to decide to try to sell their homes. Not in vain, around 20% of the total homes for sale in the first half of 2023 were on this list, data that doubles what was recorded in 2021.