The European Green Deal: Steering Cyprus and Greece Towards Sustainable Real Estate
The European Green Deal (EGD) is an innovative initiative introduced by the European Union and its impact is particularly significant in the Mediterranean region, specifically within the real estate markets of Cyprus and Greece. As these countries prepare to adopt the directives of the EGD, the real estate industry is undergoing a crucial transformation aimed at reducing net greenhouse gas emissions by at least 55% by 2030.
Renewable Energy;
A Prominent Focus for Real Estate in Cyprus and Greece
The transition towards renewable energy is a central focus of the EGD, which means that Cyprus and Greece are undertaking significant changes to their energy policies and building standards. The EU's Recovery Plan is set to support this transition by promoting the development of energy efficient buildings and encouraging renovations that align with new environmental benchmarks.
The Impact of Green Taxes in the Aegean and Mediterranean Regions
One key strategy outlined in the EGD involves implementing green taxes, which will have far reaching implications for real estate in Cyprus and Greece.
For example, carbon taxes are expected to increase electricity costs by 2-8% in Cyprus, prompting a strategic shift towards sustainable property management as a means to mitigate potential financial impacts.
A Collaborative Approach for
a Greener Future
To successfully incorporate the objectives of the European Green Deal (EGD) in the real estate sectors of Cyprus and Greece, it is crucial for governments, financial institutions, energy companies and property managers to work together. This collaboration aims to integrate sustainability at the core of real estate practices.
Leading the Way in Smart Management for the Mediterranean
ArgoSmart is at the forefront of promoting sustainability by offering innovative solutions that cater to the specific needs of both Cypriot and Greek markets. Our smart tools for managing real estate are designed to simplify the transition towards adopting greener practices, showcasing their commitment to realizing the vision set forth by EGD.
Charting a Sustainable Path for Cyprus and Greece
As Cyprus and Greece navigate through EGD's mandates, it is essential for their real estate industry not only to adapt but also actively participate in embracing sustainability. This initiative goes beyond being just a policy; it serves as a roadmap towards establishing a resilient, energy efficient and environmentally friendly real estate landscape at the heart of the Mediterranean.

As Europe chart their course through the mandates of the European Green Deal, it becomes increasingly clear that no player in the real estate market will remain unaffected. The impending rise in electricity costs is set to increase operational expenses across the board, bringing the issue of cost optimization into sharp focus for businesses. In such a landscape, achieving efficiency without the aid of automation is not just challenging—it's a competitive disadvantage. At ArgoSmart, we understand the intricacies of this transition and are ready to share our expertise. We invite you to a complimentary meeting with our experts, where we'll explore tailored strategies to streamline your operations and navigate the new era of green real estate. Join us in turning these challenges into opportunities for growth and innovation.
OCTOBER, 30/ 2023