The Government of Cyprus every year pays more and more attention to the issues of the wise use of resources. Thus, in April 2022, the local Green Party registered and submitted to Parliament a bill related to energy efficiency in real estate. If the bill is passed, very soon a law may appear in Cyprus requiring owners of commercial and residential real estate to obtain and have on hand for presentation on demand an energy efficiency certificate of the facility. The impetus for the creation and submission of the bill for consideration is the relevant directive of the European Union.
The key figure in the development and presentation of the bill was the leader of the "Green" of Cyprus, Charalambos Theopemptou. He and his party have been promoting the importance of calculating and monitoring the energy efficiency of real estate for several years now. According to the data that environmentalists use to justify their position, the energy efficiency of buildings in the foreseeable future may become one of the factors determining the need for repair and restoration works.
Transactions carried out with a certificate confirming a sufficient level of energy efficiency will be more transparent for buyers and tenants in terms of cost planning. This is especially important for buildings that are just being put into operation, or have undergone major repairs and reconstruction. Real estate statistics in Cyprus show that the vast majority of buildings, even without mandatory certification, have a high energy efficiency rating.
In addition to alerting building owners to the need for maintenance or refurbishment, an energy performance indicator will also allow buyers and tenants to get a real idea of the costs of maintaining the property at the end of the transaction. Against the backdrop of a continuous rise in energy prices, those wishing to buy property in Cyprus (this allows them to obtain a residence permit in Cyprus in a simplified manner) will need information on how much it will cost them to maintain the purchased buildings and premises.