Legislation regulating the energy efficiency performance of buildings in Cyprus was voted in 2006 and amended on several occasions after that, coming into force on 1/1/2010.
What does the legislation provide for?
All buildings (flats/apartments/house/shops) to be sold or rented in Cyprus must be accompanied by an Energy Efficiency Certificate (EEC) (also known as an energy performance certificate). The certificate must be presented to the tenant or buyer before the property transaction is finalized.
It is also demanded that the energy performance certificate must be mentioned in all advertisements promoting the Cyprus property for sale or rental.
The Energy Efficiency Certificate is issued by the Cyprus Ministry of Commerce Industry and Tourism, following a study by a certified Technical Chamber of Cyprus (ETEK) member.
Indications at this stage regarding the cost of issuing the Certificate are approximately €2/sq.m. The energy performance certificate is valid for 10 years.
The sale or rental of the Cyprus property is presently by no means hindered by its energy efficiency category.
This practice is useful as it provides useful energy cost estimates to prospective buyers, tenants or investors in Cyprus real estate. It also reflects on the value of the property. In cases of poor energy efficiency the owner always has the option to make the necessary changes to upgrade it, thus increasing its market value.
What is unfortunate is the time the Ministry has chosen to enforce the legislation, namely a whole 5 years after it was implemented, and all in the midst of an economic crisis affecting the Cyprus real estate sector.
Right now property owners in Cyprus find themselves in the worst possible economic position with property sale prices and rents having hit rock bottom and taxes on the rise. Paying for the issue of an Energy Efficiency Certificate is something they can do without at the moment.
Examples of procedures and legislations which were never enforced abound. Just remember the Final Approval Certificate, a must before the owner can take occupancy of the property in Cyprus.
Our proposal is that a time frame is agreed upon, giving time to owners to secure the energy performance certificate without being pressured and having penalties imposed on them. A six-month grace period would make sense to allow the Cyprus real estate sector time to recover. Penalties could come into force following this period.
An even better move would be to put the legislation on ice until the economic situation is better, so that Cyprus property owners have the means to proceed with the inspection and the issue of the Energy Efficiency Certificate.
Inquiries and Support
If you are a Cyprus property owner and need advice or locate an engineer to obtain your energy performance certificate, please contact our central office:
Fox Nicosia Property Service Office
6, Georgiou Davari Street, 2024, Strovolos, Nicosia, Cyprus
Mailing address: P.O.Box 26668, 1646 Nicosia
Call Free: 80080082
Written by: George Mouskides
General Manager, FOX Smart Real Estate Agency, Cyprus