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INCREASINGLY HIGHER QUALITY IN CONSTRUCTION
INCREASINGLY HIGHER QUALITY IN CONSTRUCTION
The repercussions of higher quality have been felt in house prices. It is estimated that new building regulations have caused house prices to triple in the last twenty years.
Costa Blanca - 2007-09-17
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The technical regulations applicable to the construction sector have caused house prices to triple in the last twenty years. Obviously, quality improvements are highly beneficial for the consumer, but someone has to assume the costs.
The latest regulations promote and make the use of solar energy obligatory. Apart from having to absorb the cost of the necessary installations and materials, these regulations force construction companies to build larger houses to accommodate such installations.
At the current cost of one square meter, these changes have a direct upward effect on house prices, and it is just one of the reasons why house prices are not likely to fall.
The architect, Pablo Carazo, (former President of the Official Association of Architects of Jaén) gave several examples of impacts on house prices.
For example, adaptation to the seismic-resistance regulations introduced in 2002 increased the amounts of iron employed by between 20 and 30%, albeit we can regard this adaptation as an investment, since houses are now built to withstand a grade seven earthquake.
Backed by the Association of Architects, Carazo estimates that each adaptation to new regulations entails an increase in houses prices of 15 to 20%, such as in the case of the current adaptation to obtain the official energy certification.