New spanish law for properties for sale or rent: Energy Performance Certificate
Homeowners in Spain are being pushed to be more energy efficient. From June 1, all properties being rented or sold must have an Energy Performance Certificate (Certificado de Eficiencia Energética or CEE) in an effort to reduce unnecessary carbon emissions.
The new law stems from the Kyoto Agreement and brings Spain in line with the 2007 EU Directive on Energy as part of a strategy to deal with climate change.
The new decree will make energy transparent by testing and grading a building’s energy use and carbon emissions based on the way the building is used and number of ways in which the efficiency could be improved.
A building graded A rates highly, while one graded G rates poorly.
Regardless of the final rating, improvements are not compulsory.
However, many estate agents believe the move will see more older properties being better insulated as a poor rating could be used by a buyer to lower the price.
Meanwhile, anyone found renting or selling a property after June 1 without the certificate could face hefty fines.
In addition, notaries must also request the certificate when signing over a property and tenants will be required to receive a copy of the certificate which lasts for 10 years.
The move is being welcomed by companies such as Marbella-based Artica Energy Performance who are calling the decree essential.
“The latest data published by the United Nations shows that Spain is number 20 in a list of countries by CO2; emissions, producing just over 1% of emissions worldwide,” explained General Manager Shane Freeman.
“This royal decree is essential in order to bring Spain up to European levels in the fight to reduce CO2 emissions into the atmosphere. Energy efficient homes can reduce electric bills and will lead to a higher real estate quality and transparency in Spain.”
By Adam Neale | Property News | May 20th, 2013