Vonovia boss expects buildings with poor efficiency to lose value
Rolf Buch has been CEO of Vonovia SE, which is listed on the Dax, since 2013
Source: Jakob Hoff/WORLD
Vonovia CEO Rolf Buch fears that poorly insulated houses will lose value as a result of the climate protection measures planned by the EU and the traffic light coalition. He calls on Minister of Economics Habeck to support the energy turnaround in the building sector as well as in industry.
Dhe CEO of the Vonovia housing group, Rolf Buch, expects falling prices for properties with poor energy efficiency. “Such buildings are very likely to lose value,” said Buch in an interview with WELT AM SONNTAG.
Future CO2 emission penalties or costs for upcoming renovations would be deducted from buyers. This can already be observed in Great Britain. “If an apartment comes onto the market there that does not meet the required standard, high fines are sometimes due,” says Buch.
However, the energy transition in the building sector in Germany cannot be achieved without financial support. “Where the money for energy-related refurbishment from management is not sufficient, the state should provide support,” says Buch. “When presenting the climate protection balance sheet this week, Economics Minister Robert Habeck offered industry to cover the cost difference when switching to renewable energies. That should also be the case for the building sector,” says the board of directors of the group with more than 550,000 apartments.
Because planning and new construction are complicated and expensive, he understands stricter rental rules. “Until the market works again solely with supply and demand, you can temporarily regulate more,” says Buch. “We have to gain time. But we also have to use it to solve the construction problems and look at the details.”
In order to create more renovation incentives for landlords, he could also consider switching to a different rental system. “I find the Swedish model of rent including heating interesting,” said Buch. Landlords and tenant unions agree on a fixed price for an apartment at a certain room temperature.
The takeover of Deutsche Wohnen with more than 110,000 apartments has been completed. “We hold 87.6 percent and no longer act as buyers of Deutsche Wohnen shares,” said Buch. A stake in the Adler Group is not on the agenda at the moment: “After a few sales, Adler has now stabilized financially. We are currently concentrating fully on the integration of Deutsche Wohnen.”
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