The hurdles for such properties are often related to the energy performance certificate (EPC). The Flemish government's obligation to renovate to at least label D within five years deters potential buyers. This obligation entails significant additional costs, often up to tens of thousands of euros. Experts claim that this makes homes less attractive, causing them to be for sale longer and prices to fall.
A study by real estate data platform Realo shows that houses with EPC labels E and F are offered 1.2% and 2.1% cheaper, respectively. Buyers need to consider not only the purchase price, but also the extra cost of insulation, heat pumps or solar panels, all in a context of more expensive building materials and higher interest rates.
