The spatial uneven difussion of energy-efficiency transparency policy. An analysis of the multi-family market in Barcelona

Abstract

n order to foster energy-informed real estate decisions, the EU has universalised the energy performance certificates to be displayed on advertising for sale and rental. However, in Spain, such certificates are absent in a disturbing proportion of cases. This paper investigates the prevalence of this problem, its spatial patterns, and the concomitant architectonic and locative attributes. In doing so, data from 49,000 apartments listed for leasing and renting in Metropolitan Barcelona are analysed using conventional and spatial econometric methods. The results suggest that the probability that a listing includes the energy rating of the dwelling largely depends on other neighbouring listings. Furthermore, the information opacity exists for the worst dwellings, which are expected to be the most inefficient, located in areas inhabited by low-income population. That is, the population that could benefit the most from this policy is, precisely, the most uninformed.