2024-01-05 16:24:39
And this coming real estate crisis will affect everyone: owners and tenants, whether they are homes or industrial and commercial premises in the tertiary sector.
The media doesn’t really talk about it and it’s easy to understand why.
The latest real estate laws have been organized taking into account the instructions of the European Union in order to achieve “carbon neutrality”. Some even consider any criticism of these laws as a more general criticism of climate policies, and therefore as disinformation! Which undoubtedly also explains the media silence on the subject, not to mention the potential impacts on investment funds specializing in real estate.
What does the climate and resilience law passed in August 2021 say? It confirms the implementation of energy performance diagnostics (DPE), prohibiting the rental or sale of residential premises based on their energy classification and their greenhouse gas emissions.
The main information can be found on the government website which takes up the terms of the decree of March 31, 2021:
These classifications range from A to G. Depending on the classification, the accommodation could be prohibited from sale or rental:
To change classification, it is therefore essential to carry out work. In condominium buildings, as in houses, this work may concern: the roof, thermal insulation (therefore facade renovations or interior fittings), thermal sensors for the use of heating or hot water .
But this work is not feasible in all buildings.
For tenants, the increase in energy prices and household waste taxes will also cause rental charges to soar.
Owners of rental property lots can thus find themselves with work costs that can represent two to three years of rent, not to mention the increase in property taxes and the increase in taxes on rental income such as the CSG/CRDS. .
In addition, we are now talking about the possibility of a rent tax for owners who live in their homes! (Article from Figaro from December 26, 2023)
I have just mentioned residential premises, but the modifications also concern industrial and commercial premises with the tertiary decree which also finds justification due to climate plans.
This tertiary decree concerns both owners and tenants.
These works and these regulations will cause a fall in real estate prices in the months to come. They will also put financial funds which have made investments in this sector of activity, such as SCPIs, in difficulty.
All this is part of the 2030 Agenda and the Davos agenda, advocating the end of private property (“You will own nothing and you will be happy”). THE PDG de JP Morgan and some parliamentarians were talking about it recently…
Also as an example, Mislav Kolakusic’s speech in the European Parliament.
#Huge #real #estate #crisis #sight