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HomeEstoniaLargest-ever apartment building renovation grant to open at summer's end

Largest-ever apartment building renovation grant to open at summer’s end

Estonian Climate Minister has sent on a round of approvals a proposal to allocate 160 million euros in renovation grants to apartment associations across Estonia, which would be the largest grant round in Estonia’s history.

“The much-awaited funding will help renovate the homes of over 20,000 people across Estonia. Comprehensive reconstruction can result in up to double savings on heating costs. When changing the grant conditions, we will focus more on the quality of the living environment, reducing the risks for apartment associations when ordering work, and addressing market failures,” Climate Minister Kristen Michal said.

This grant budget will be distributed by county, based on the value of apartments in the area, their number, and the gross income of households. Grant rates will range from 30-50 percent depending on the location of the apartment association.

To ensure high-quality results that improve energy efficiency, architecture, and other aspects of the building, the list of eligible activities and project requirements will be updated.

In the new round, grants can also be used for constructing or renovating playgrounds, purchasing and installing outdoor furniture. Requirements for creating shelters and improving accessibility have also been clarified.

As comprehensive solutions for reconstruction are sought increasingly, and these projects have become more complex, extensive, and expensive over time, the Business and Innovation Agency will help apartment associations organize tenders.

The application round for apartment building renovation grants is expected to open at the end of August.

The upcoming application round for apartment building renovation grants is part of a 330 million euro EU structural funds package. The distribution aims to ensure a steady increase in grant amounts to curb price growth and develop a strong market for renovation companies. Last year’s 80 million euro grant resulted in the renovation of nearly 100 apartment buildings.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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