Discover the results of the survey “Property owners’ capacity and readiness to renovate” that obtained a representative sample at EU level and provides important insights on how to create adapted policies to boost the Renovation Wave.
Within the scope of action of our TripleA-Reno project, the International Union of Property Owners (UIPI) conducted an online survey to assess European property owners’ capacity and willingness to renovate their homes. The goal was to assess whether property owners in Europe were considering/planning renovations before COVID-19 – and if so, what were they planning and why; and if not, why not – and the impact of COVID-19 on these renovation plans. The analysis of the collected data from over 10,000 respondents in 36 European countries allows to shed light over the real situation of property owners and guide future policy recommendations aiming to enable the Renovation Wave and meet EU climate goals.
European property owners showed a strong willingness to renovate in this survey: 77% of respondents think it is beneficial to make their properties more energy-efficient and sustainable, and more than half see both economic and environmental benefits in doing so. Also, 6 out of 10 respondents think their property needs renovation works. Also, despite this determination, property owners find many barriers to take action; the economic barrier is the most referred reason holding back renovations: 31% of respondents who decided not to renovate are willing to do so but they don’t have the necessary funds.
Moreover, 30% of the respondents who did not plan renovations stated that having financing schemes in place would help them change their minds and 54% of respondents ask for subsidies and grants that help them renovate their properties. Respondents would also appreciate tax incentives and loans, although in a smaller percentage. Having professional and technical advice and simplified user-oriented solutions like One-Stop-Shops (OSS) would be appreciated by a significative percentage of respondents.
The Covid-19 crisis and the insecurity that it brought along have impacted families’ and businesses’ expectations, objectives and plans in all assessed aspects. 28% of respondents stressed that it indeed affected their renovation plans, they mainly decided to postpone these plans, others downsized them, abandoned the idea and reduced their budget. Although some of them indicated that the pandemic affected the renovation plans in a rather positive way when considering the need of a Renovation Wave, since 7% of respondents anticipated their plans, 4% expanded them and 4% increased their budget.
The budget that property owners are willing to invest in renovation per property is precisely one of the aspects most negatively affected by the health and consequential economic crises. 30% of respondents planned to spend more than 20,000€ in their renovations before Covid-19, what evolved to a 36% of respondents planning to spend less than 5,000€ in their renovations after the pandemic. Despite this, the coronavirus is not the most significative burden nor a catalyst of sustainable renovation, but more a delaying factor, both for renovations and for awareness raising regarding its urgence and benefits.
If you want to find out more about UIPI & TripleA-Reno Survey’s outcomes, you can read the complete report here.