What is the real impact of a home's energy performance on its resale price?

A massive and structural discount, particularly on houses

The Ithaca study highlights a structural shift in how real estate is valued on the market. Today, a home's energy performance plays a growing role in its valuation, although its impact can vary depending on the market, such as in Paris, where other criteria still predominate.

Price per square meter and impact of the DPE in the 10 largest French cities

In cities like Bordeaux (-€1.115/m²) or Lyon (-€1.053/m²), F/G-rated homes are suffering massive losses in value, which can exceed €200.000 for a 150 m² house. These differences are explained by higher energy consumption and often extensive renovations, which discourage buyers and increase their room for negotiation.

Apartments are also affected, and the loss in value remains significant, reaching -€667/m² in Nice, -€660/m² in Bordeaux, and -€559/m² in Strasbourg. In these cities, buyers are now factoring in future costs related to energy performance, directly impacting the market.

In Paris and Nantes, the effect of the DPE is more nuanced. In the capital, the ultra-tight market limits the consideration of the energy label, explaining why an A/B property does not sell for more and why the discount on thermal sieves remains moderate (-€657/m² on apartments). In Nantes, it is the lack of well-rated properties that prevents a real valuation of A/B properties, thus reducing the impact of the DPE on prices.

In most major cities, the signal is clear: poorly energy-rated housing is depreciating sharply, while A/B properties are becoming more attractive.

Ranking of major cities where the impact of the energy label is greatest for a 150m² house

Houses are the ones that show the most significant differences. On average, a 150 m² house rated F or G sells for €180.000 less than an equivalent house rated A or B. In some major cities, the discount reaches spectacular levels: €254.000 in Bordeaux, €237.000 in Lyon, and €217.000 in Montpellier.

Ranking of major cities where the impact of the energy label is greatest for a 40m² apartment

For apartments, the discount remains significant: up to €49.000 in Nice, €46.000 in Strasbourg, and €40.000 in Bordeaux for a 40 m² apartment. These amounts sometimes represent more than 20% of the property's value.

Such a difference can be explained by the typology of houses: larger, more exposed to temperature variations, often heated individually, they consume more energy. This level of consumption makes the energy label particularly decisive at the time of purchase. It weighs heavily in the negotiation, because buyers, increasingly sensitive to issues of thermal comfort and running costs, are looking for sober, well-insulated, and durable properties. This requirement is directly reflected in the sale prices.

A valuation criterion that has become essential

This price hierarchy reflects a profound shift in buyer expectations. A well-rated home is now seen as a sustainable, energy-efficient investment, and therefore more secure in the face of rising costs and future regulatory obligations. Conversely, an F or G rating is perceived as an immediate risk: renovation costs, thermal discomfort, and difficulty renting. As a result, these homes are becoming properties requiring renovation, subject to tough negotiations.

But beyond these representations, it's an economic reality that's taking hold at all levels. It's no longer just a simple display: the DPE is a concrete economic factor. Owners of thermal sieves are now doubly penalized by regulations and the market. Selling a poorly rated property now means accepting a discount that can amount to several tens, even hundreds of thousands of euros.

For Jean-Régis de Vauplane, spokesperson for Ithaca: "The French no longer have the luxury of postponing their renovations. The market now integrates energy performance as a valuation criterion in its own right. The challenge is to anticipate so as not to be penalized."

Methodology :

Cross-analysis of prices per square meter from the Meilleurs Agents database and data from Notaries of France (2024), on a panel of 20 cities (10 large, 10 medium). Comparison of price differences between properties rated A/B and F/G, broken down by type (apartment or house).

[1] https://www.capital.fr/immobilier/fraude-au-dpe-les-victimes-en-plein-desarroi-face-aux-factures-qui-flambent-1510661

Illustrative image of the article via Depositphotos.com.