Cash-strapped homeowners can’t afford green renovations


Most Greeks would welcome the transition to a green economy, but given that the country is still suffering the consequences of an acute 10-year debt crisis and the Covid-19 pandemic is taking a heavy toll on the economy, they cannot afford to take the necessary action. necessary without substantial state support.

According to a recent survey by the Hellenic Property Federation (POMIDA), 65% of homeowners in the country would like to renovate their home to make it more energy efficient and more environmentally friendly, but they simply cannot afford this type of investment.

The survey was part of a larger research carried out in the first quarter of 2021 by the International Union of Property Owners (UIPI), a pan-European association based in Brussels. It brings together 31 organizations from 28 countries and represents owners of up to 25 million homes across Europe.

The objective of the UIPI was to assess the capacity and willingness of European owners to renovate and how the Covid-19 pandemic has affected their projects. About 10,000 owners participated in the survey, 728 of them in Greece.

The results showed that the overwhelming majority of respondents supported the goal of greening the economy and readily recognized the associated economic and environmental benefits, but needed strong incentives such as tax cuts, subsidies, grants and loans to be able to participate actively in the process.

The financial crisis has hit many homeowners financially, Nikos Tsatsis, director of development at Plasis Real Estate and Development, a real estate agency in Athens, told Xinhua.

“They do not have the same income as in the past and they have difficulty financing a renovation project. There is a lack of liquidity and it is also difficult to get a loan. ” [Xinhua]

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