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Its official name is Directive (EU) 2024/1275 on the energy performance of buildings, better known as the EPBD. Its aim is to progressively reduce the energy consumption and emissions of Europe's building stock, which accounts for a significant share of the energy used across the Union. In a city such as Milan, where historic palazzi, post-war buildings and highly efficient new constructions stand side by side, the effects will be anything but uniform.
What the directive provides
For residential buildings, the directive sets a national-level target: to reduce the average primary energy consumption of the housing stock by 16% by 2030, and by between 20% and 22% by 2035. A substantial part of this reduction will have to come from the least efficient buildings. From 2030, all new buildings must be zero-emission, and since 2025 public incentives are no longer permitted for boilers running solely on fossil fuels.
Each Member State must translate these targets into a national renovation plan, choosing its own tools, timelines and incentives.
What the directive does not provide
This is the point most often misunderstood. The directive does not require individual homeowners to renovate their property by a given date, nor does it introduce any ban on selling or letting a property on the basis of its energy rating. The mandatory minimum thresholds apply to non-residential buildings. Member States may also exempt certain categories from the obligations, including buildings protected for their historic or architectural value, a significant consideration for many properties in central Milan.
Where Italy stands
The deadline for transposing the directive was set for 29 May 2026. As of September 2026, Italy, like many other European countries, has not yet completed this step, and the European Commission has initiated the relevant procedures against non-compliant Member States. The operational rules, tools and incentives that will accompany the transition will therefore be defined in the national plan over the coming months.
This waiting period should not be misleading, however: the direction is set, and the market is already moving.
The energy rating is now part of the price
Well before any regulatory obligation, it is buyers who are making the difference. An international clientele, increasingly mindful of running costs, regards energy performance as a selection criterion in its own right, on a par with aspect or floor level. An efficient property is more comfortable, less costly to run and perceived as easier to resell in the future. Conversely, an energy-hungry property is often valued with the works the buyer will have to undertake in mind.
In the prime segment, this does not mean that a period apartment loses its charm: it means that the quality of energy-efficiency works, when carried out with respect for the architecture, becomes a source of added value.
The APE in a property sale
In Italy, the APE (Attestato di Prestazione Energetica, the energy performance certificate) is already a central document. The owner must obtain it and hand it to the buyer; the certificate must be attached to the deed of sale and is valid for ten years. The energy rating must also appear in property listings. The absence of an APE does not void the deed, but it does expose the parties to significant administrative penalties.
How to prepare: no rush, but with method
For an owner, the first step is to know precisely where their property stands: current energy rating, condition of the systems, possible works and their costs. In a condominium, many decisive choices (façades, roofs, central heating plant) go through the owners' meeting, and they are worth following closely. Those considering a sale can decide whether to carry out works beforehand or to present the property with a clear picture of the possible works: both strategies are effective, provided they are transparent.
The energy transition of buildings will be gradual. But in the Milan market, where demand is selective, value is already being built today.