A survey carried out in November by IPSOS commissioned by ING shows that a change of mentality is taking place in the Belgian property market, with an increasing number of people willing to buy a house in need of renovation compared to a year ago. Due to the high prices of building materials and the time investment required for a deep energy renovation, many families preferred a ready-to-build home. Therefore, we got a stark dichotomy in the real estate market, where there was still a lot of interest in ready-to-move-in homes, while the market for energy-consuming properties had much weaker dynamics.
Here, however, things are beginning to change. More and more families are opening up to home renovation. While a year ago, 49% of respondents said that a poor score on the Energy Performance Certificate (EPC) was a deal-breaker when buying a home, today only 38% do so. Many families are beginning to expand their horizons out of economic necessity. With interest rates rising, it is no longer viable for some people to purchase another energy-efficient home. Furthermore, the prices of homes with low EPC scores are currently under pressure, making them increasingly attractive from a financial point of view.