Aging Housing Stock: Challenges for Homeowners
In Spain, affordable housing remains one of the most pressing issues. High purchase and rental prices, a shortage of municipal apartments, and the advanced age of many buildings create serious obstacles for families seeking decent living conditions. At the same time, thousands of property owners face the urgent need for renovations to preserve the value of their assets and improve energy efficiency. This is becoming increasingly important amid tightening regulations and rising utility costs.
Delaying Renovations: The Economic Consequences
Architect Jordi Martí has noted that many Spaniards are putting off major repairs to their homes and apartments, which could lead to significant financial losses. He believes that residents’ reluctance to agree on joint upgrades and their constant postponement of renovations are causing buildings to fall into gradual disrepair. Homes built over half a century ago are especially vulnerable: without action now, they risk becoming a burden on owners rather than a source of stability.
Martí emphasizes that this is not just about financial investment, but also about the need for personal involvement in managing and maintaining property. Owners who neglect the condition of their real estate risk ongoing unexpected expenses, higher energy bills, and a drop in the market value of their homes.
European subsidies: a chance for modernization
Authorities are encouraging residents to take advantage of support programs funded by European funds. Under the Recovery and Resilience Plan (PRTR), financed by NextGenerationEU, more than €3.4 billion has been allocated for the renovation of residential buildings. These funds cover between 40% and 80% of the renovation costs, and up to 100% for low-income families. The main requirement is at least a 30% reduction in energy consumption after the renovation is complete.
The most popular measures include insulating façades and roofs, replacing windows, installing modern heating and air conditioning systems, as well as upgrading communal areas. Additional support is provided for projects that improve accessibility and preserve buildings, as long as they also promote energy efficiency.
How to get support and avoid pitfalls
The programs are managed through regional renovation offices, where property owners can receive advice and technical support. These offices can also help you find specialists and use an online calculator to estimate potential savings and the amount of subsidy available.
It’s important to note that grants received are tax-free and are not counted as income for personal income tax purposes. In addition, part of the renovation costs not covered by the subsidy can be deducted from your taxes—up to 60% of the amount.
Experts advise not to delay decision-making: procrastination can lead to increased expenses and a decrease in property value. Those who act in time to renovate can preserve and grow their capital, as well as reduce monthly property maintenance costs.
