RABO

While most EU member states have not yet submitted their long-term renovation strategies, countries such as Spain and Belgium have registered significant progress on the topic, following up on an emerging trend set by France and Holland.

The gradual tightening of energy efficiency renovation requirements is a union-wide goal and EU countries are planning for strategies that involve both residential and commercial sectors.

In some cases, owners will be motivated to renovate by a certain deadline via financial incentives, and in other cases via legislature.

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One of the COVID-19 decisions for prevention and spread minimization imposed by the Slovak government in the context of the coronavirus outbreak was to limit the activities of many companies renting premises.

These companies had to close business in the premises, interrupt teaching (in schools and school facilities) or exclude the presence of the public from the establishment due to the coronavirus outbreak.

The European Commission approved a €200 million Slovak scheme to support these companies and the scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020 and 8 May 2020.

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The Circular Economy Action Plan focuses on EU achieving climate neutrality by 2050 and decoupling economic growth from resource use.

The plan has a strong component regarding construction materials and building process, as the built environment has a high impact on quality of life, local job creation and most sectors of the economy.

From material extraction to waste and emissions, the built environment requires vast amounts of resources and accounts for the following:

– approx. 50% of all extracted material

– approx. 35% of the EU’s total waste generation

– est. 5-12% of total national greenhouse gas emissions from material extraction, manufacturing of construction products, construction and renovation of buildings

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The European Commission announced that, as a result of negotiations with Airbnb, the platform has improved and fully clarified the way it presents accommodation offers to consumers, which is now in line with the standards set in EU consumer law.

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During any construction building stages, whether block of apartments, office buildings or even houses, prior to obtaining a building permit, the developer/owner is in certain situations obliged to obtain a Zonal Urban Plan (P.U.Z.) or a Detailed Urban Plan (P.U.D.).

These urbanism documentations are changing/amending/detailing the existing regulations under the General Urban Plan (P.U.G.) which allow the real estate construction to be performed according to the developer’s/owner’s intention.

A general problem prior to preparing, submitting and approving a building permit refers to the success rate and the average approval period of a PUZ or PUD.

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Improving economic conditions across continental Europe, including falling unemployment and higher consumer confidence in the face of moderate inflation, should continue to support revenue growth for developers in 2019. The housebuilding industry is at the moment under a significant paradigm shift, as new trends pop up in the sector on a constant basis. In EMEA, the outlook is generally stable with new-build and presale indicators benefitting from the current upturn in the European economy.

Here’s a look at some of the factors that could affect the industry based on S&P Global Ratings.

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