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Denmark: Low-energy bills fetch high prices on real estate market

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Some 50 percent of home buyers factor in energy costs when coming up with a purchase offer, according to a new study reported by Politiken newspaper. The findings of the study, which was conducted by The Danish Energy Saving Trust (DEST), were confirmed by real estate professionals.
”Buyers are paying attention to whether a house has a B or an E energy rating, and they have seriously begun to factor energy costs into their calculations of how much they are willing to spend on a house,” said Torben Kaas, director of the Danish Construction Association.

Real estate agents are seeing the same tendency. ”Location is still the most important parameter, but reasonable energy costs have overtaken both the new kitchen and new bath as the new number two consideration,” said Steen Winther Petersen, chairman for The Danish Association of Chartered Estate Agents.

The DEST study also showed that one third of current home owners plan to replace windows or do another kind of renovation to minimise heating bills within the next two years.

”A seller can get more for a residence with energy updates if the buyer is aware of the energy use. At the same time, the property will sell more quickly. That’s significant at times when there are more sellers than buyers,” said Petersen.

By law a house must be given an energy rating on a scale from A-G before it can be put up for sale, and the rating must be visible in the sales listing.

An ’A’ rating means that a property uses the least energy, while a ’G’ rating means that the property uses a lot.