One thing is certain: this will make construction more expensive. Significantly more expensive. It is entirely understandable that the EU wants to achieve its self-imposed climate targets. And the construction sector is just the right place to start. Buildings cannot run away, and according to the European Commission, they are responsible for 40% of energy consumption and 30% of emissions.
How exactly the new regulation is to be implemented is a matter for the federal states. The federal government therefore has a certain amount of leeway. Although there are to be no compulsory renovations, one thing should be clear: given the tight budgetary situation, the federal government will not be keen to renovate its own properties.
The commitment to emission-free construction alone will cause problems that affect not only builders but the entire construction industry. The construction costs for residential buildings will spiral so high that hardly any family will be able to afford their own home. If less is built, this will drive more construction companies into insolvency. The industry is already in a dire state.
An example: Hamburg – the so-called most beautiful city in the world – is currently being enriched by further construction ruins caused by insolvency. Following the Elbtower, within sight of the Elbphilharmonie, construction work on the Elbair, a service centre in front of the Airbus factory gates, has now been partially suspended. At around the same time, construction work on the Athleticum at Hamburg's Volkspark, in which, among others, the football promotion hopeful HSV is involved, came to a standstill. In both cases, the reason is the bankruptcy of Ronge Industriebau GmbH.
In principle, the EU regulation applies to all member states. However, comparability is an issue. For example, a building in the Netherlands with efficiency class C would only have class G standard in Germany. A French property with class B would only have a D in this country. Germany's over-compliance with European directives could therefore turn out to be an expensive dud.
According to Haus & Grund, renovation costs in Germany will amount to around €140 billion by 2030, averaging €60,000 per building. In addition, buildings that are still heated with fossil fuels are likely to suffer a massive loss in value. The upcoming renovation costs are likely to be painfully priced in. Not to mention rents. Homeowners will inevitably pass on the renovation costs to their tenants.
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