Energy and real estate: three typical risk situations
As of 1. 1. 2026., the new Energy Efficiency Act applies, noting that certain provisions will enter into force on 1. 1. 2027. (Art. 43(6)–(8)). Although this is primarily a statute setting public policies, measures and instruments, its practical impact is clear: energy efficiency is increasingly finding its way into your decisions and contracts, whether you are selling, leasing, renovating or financing a property. Energy costs and the predictability of consumption have already become part of value and risk assessments, and documentation that previously passed on trust is now increasingly subject to formal checks. In practice, the risks most often do not appear as a major dispute at the outset, but as a delay, an additional cost or a request to amend the contract at the final stage of the transaction. At the same time, in renovation projects and when using incentives, reputational and administrative-offence risk is not negligible, so it makes sense to identify in advance when the “warning light” should come on.
The new Act sets the framework for energy efficiency at the level of targets, measures, implementation and monitoring. This means that expectations for individual sectors are set through programmes, bylaws, guidelines and implementation requirements, including the building sector, since buildings account for a large share of energy consumption and savings potential. In practice, this most often shows up as demands for better-organised documentation, clearer energy information, aligned renovation procedures, and greater attention to reporting and evidencing compliance when subsidies and projects are involved.
What does not change overnight, however, is the practical importance of energy certification in sales and leases. The rules on when an energy certificate must be obtained, when it must be presented, and which energy information must be communicated in market listings remain one of the most common “triggers” for delays in transactions, especially once banks, valuers/appraisers or the other side’s legal advisers become involved. It is also important to keep the broader European context in mind: the revised Energy Performance of Buildings Directive (EPBD) has been in force since 28. 5. 2024., and the deadline for transposition into national law is 29. 5. 2026. This does not mean that specific obligations can be reliably predicted in advance, but it does mean that the direction of regulatory development is towards stricter standards and more systematic renovations – so it pays to establish a clear paper trail of documentation and communication already today.
Three situations where the “warning light” comes on When selling an apartment, house or commercial premises, a typical mistake is dealing with the energy certificate too late, or not being clear what exactly it relates to. The result is that the process drags on because the buyer asks for additional documentation, and in credit-funded transactions extra requirements often arrive at the very last step, when deadlines have already been committed. This increases the cost of the deal because contracts are revised, additional representations and warranties are introduced, and the question of price or payout conditions is often reopened. Preparation is usually straightforward, but it must be timely: before serious negotiations, check whether you have a valid certificate, whether the energy information is consistent across the listing, negotiation documents and the contract, and whether the annexes and statements in the contract match what has actually been established.
In leasing or renting, especially of commercial premises, a frequent mistake is a mismatch between what was communicated in the offer and what was agreed in the contract. The issue usually does not show up immediately, but when the tenant compares actual operating costs with what they expected, or when—because of investments and fit-out—they ask for clear parameters of the space.
In such situations, unnecessary negotiation rounds arise, the risk of a dispute increases, and a simple transaction becomes administratively and legally demanding. The preparation boils down to disciplined documentation: energy information should be communicated accurately and in the same form at every stage, and the contract should clearly allocate which costs are borne by whom and what happens if energy-related works are carried out or the use of the premises changes—without pushing “grey areas” into the future relationship.
When planning the renovation of multi-apartment buildings or projects on public buildings, the “warning light” comes on as soon as decisions are made about the scope of works and the financing model. A typical mistake is to make decisions without a sufficiently clear technical and contractual basis and to contract works without precise criteria for quality, deadlines and warranties. In multi-apartment buildings, there is an additional procedural risk: co-owner decisions and the representative’s authority must be adopted and recorded in a way that can withstand scrutiny, especially when the project is linked to calls for tenders or incentives. If that part is not set up solidly, the project slows down, offers become outdated, and legal risks increase precisely when it should be moving into implementation. Preparation means timely alignment of decisions, a clear allocation of responsibilities, and contracts that provide mechanisms for deviations, performance control and handling objections—rather than relying on general wording.
What to expect in 2026 In 2026, it is reasonable to expect further alignment of domestic rules with the European framework and a strengthening of practice that encourages faster renovations and higher energy-performance standards. It would not be responsible to claim in advance which specific obligations will be introduced and in what form without checking future amendments, bylaws and guidelines, but it is certain that the deadline for transposing the EPBD into national law on 29. 5. 2026. will be an important milestone after which normative changes and operational clarifications can be expected.2026. biti važna točka nakon koje se mogu očekivati normativne promjene i operativna pojašnjenja.
