The new Regulation for Buildings Energy Performance (KENAK) has been recently adopted within national legislation and expected to comprise an integral part of all future developments in the building sector in Greece. The regulation will undoubtedly significantly affect the construction of new buildings through the introduction of energy performance standards. Furthermore, the real estate market will also be influenced, since energy audits and building certification will be included in any process of purchase, rent or major renovation of all kinds of buildings, only with a very few exceptions.
The nation-wide implementation of such a regulation is indeed welcomed, even though it comes with a delay of several years compared to the implementation of similar regulations at a European level. It also follows numerous consultations and changes in respect to the methodology eventually applied. The impact of this delay is twofold: on one hand, Greece is being in way favoured, since the chance to incorporate parts of the already built-up expertise of other European countries on this sector was given; on the other hand, essential steps forward are still required, so as to provide for a wide implementation of energy-saving measures in comparison to other countries.
Within this context, and taking into account the effects of the recession in the construction sector, a very high degree of mobility in the existing building stock is expected. This stock includes housing, but also large corporate properties that would require the implementation of energy audits.