Approach to the influence of energy certifications on real estate values

Abstract

The objective of this work was to determine if real estate market prices are influenced by the energy ratings of the real estate goods, as well as to analyse the importance that population gives to these certifications.

The investigation is structured in two parts. In the first section of theoretical character, the previous studies in the matter are analysed, in order to determine the literature review. To understand the energy certifications, through a brief review of their trajectories in some European countries and an analysis of various “green mechanisms” that arise simultaneously to these have been conducted. In the second section, of empirical character, it is sought to know the state of implementation of the energy certifications in Spain and its effectiveness. For this reason, interviews with energy certifiers are carried out, in order to obtain information from technicians and, also surveys of the population in Barcelona.

The study has addressed an topic on which there is a still certain lack of knowledge in Spain, faced in an original way using, simultaneously, surveys and interviews with different approaches, aimed to experts in the field and to the citizenship, respectively.

As a result, it is concluded that practically all the existing housing stock in Spain does not yet have energy certification, this being a very recent implementation instrument in our country and, that the few houses that own it, have requested it by compulsory. Finally, this certification in Spain takes time to be assumed by the population, so that it really understands what the energy qualification for your home implies and to be able to assess, if it is the case, whether it has an impact on the real estate value of the real estate goods.