According to the portal Spielberg Business “It’s going to be very expensive for many homeowners” – “If you own a poorly insulated house you may have to modernize it in the next few years. The EU commission wants to oblige owners to renovate old buildings.”
Is the EU currently working on a draft law that would practically expropriate older residential buildings?
and more precisely Directive 2010/31/EU of the European Parliament and of the Council of 19 May 2010 on the energy performance of buildings (recast)
According to a.i.financial the EU is currently working on a draft law that provides for the expropriation of older residential buildings. All buildings that do not meet the new EU energy efficiency standards are affected. These buildings may no longer be used after 2030. Of course there is no true expropriation. You just no longer have the permission to live in your own house or to rent it out. This logic follows seamlessly the German Economics minister Robert Habeck who when asked whether he was expecting a wave of insolvencies at the end of this winter replied ‘No I don’t do that. I can imagine that certain industries will simply stop producing for a while’. How can businesses not be bankrupt if they stop producing is a baffling question. But anyways that’s the same logic now with their real estate plans.
If you as a landlord own several apartment buildings but it is not worth renovating them energetically then you will no longer be allowed to rent them out. That means you have no rental income and the real estate becomes practically worthless. The bank where you got the mortgage will certainly demand it back and you are broke and end up in foreclosure. Now of course your property has no value because the property is no longer rentable or financiable which means total loss for you.
This is exactly what Mark Carney the UN special envoy for climate protection and finance announced in the middle of last year either you are in conformity with the climate initiatives or you hand up this climate roadkill. As an investor you have to be fundamentally clear about this. If the state does not come directly and take away your property it can still easily forbid you to use it. They can just make up laws however they like and you have to obey and if you can’t do that then you lose your right to use your property.
“The agenda’s objectives are in fact already being enforced not primarily by legislation but by the application of non-governmental – that is non-democratic-pressure on the corporate sector via the ever-expanding dictates of ESG (environmental social and corporate governance) and by “sustainable finance” which is designed to starve non-compliant companies of funds thus rendering them as Carney puts its “climate roadkill”. What ESG actually represents is corporate ideological compulsion. It is a key instrument of “stakeholder capitalism”.
“Carney’s agenda is promoted by the United Nations and other international bureaucracies and a vast and ever-growing array of non-governmental organizations and fora especially the World Economic Forum (WEF) where Carney is a trustee. Also perhaps most surprisingly by its corporate victims. No one wants to become climate roadkill.”
This represents a major scandal and injustice to citizens as many owners of older buildings cannot afford the necessary renovations for financial reasons. Anyone who has ever renovated knows that these things can quickly run into hundreds of thousands of euros especially with properties that are a bit older. And for some buildings you can’t even just do that. It is not possible.”
This will no longer be worthwhile because the investment costs can no longer be recovered from the rents unless the renting prices go up again making them more difficult to afford than they already are especially here in Malta. Abroad there are also the increased interest rates on mortgages and energy cost on top of all this. What if these also hit Malta besides property taxes?
We must also not forget that these buildings energy renovations are a total scam and they neither save energy nor are they environmental friendly.
In Norway articles about this have already been published:
In Ireland the government is endorsing similar actions:
And in Malta our lovely government is already showing us that it is serving the dictates of the EU. In May 2021 the Ministry for the Environment Climate Change and Planning published a consultation document entitled “Long term renovation strategy 2050.”
And a few weeks ago this is what the government decided to put in my letter box so that I can increase the energy efficiency of my home and live more comfortably. It even advises me to contact an expert on energy in buildings (I won’t be gullible even if the government offers it for free or gives the usual EU subsidies!) I guess my old house of character which I converted and renovated by myself with my hard-earned earnings working four jobs for five long years does not deem energy efficient for the government. Its wannabe OGs also think that I am not living a comfortable life in my home. And for all those to whom money and material stuff come easy they cannot fathom what it feels like to come from a working class family and do a house all by yourself with loads and loads of sacrifices!
For now this leaflet seems innocuous but if the government thinks that all old buildings’ owners must spend another fortune to turn their property to fit this “zero-energy” scam or else Maltese property owners will have to comply to anything that the EU dictates then we will shake and throw everything that is thrown at us in the dirt!
We should be living in countries which are not involved with these “initiatives” and where ideally properties are bought without mortgages because then there is less leverage and prices cannot come back that much.
The prospects continue to get worse. It is time for people to begin to understand what the State actually is and does. In their “You will own nothing and will be happy” dictum your old house is not suitable for you to live in it but being homeless and living on the street is.
But they forget one thing: that the most dangerous thing on earth is someone with nothing to lose. It is time for a worldwide revolution which will make the French revolution look like a walk in the park!