Spain is facing a historic challenge: to transform an ageing housing stock – more than 80% of which was built before 1980 – into a more efficient, sustainable and healthy environment. Residential renovation is not only an obligation derived from European commitments, but an opportunity to improve the quality of life of millions of citizens, boost the economy and move towards climate neutrality. The objective set by Europe and ratified by the Spanish government is clear: to rehabilitate 1,377,000 homes before 2030. An ambitious challenge, but achievable if all the agents involved – public administrations, financial institutions and citizens – collaborate decisively and facilitate and extend financing formulas for this country’s work.

The Secretary of State for Housing, David Lucas, recently recalled at the Rehavita 2025 conference, organized by UCI, that “Spain will meet the European objectives set for 2030”. However, it also recognised the urban complexity of the country, where high-rise buildings predominate and, with it, the difficulty of reaching an agreement between entire communities of owners. This obstacle, together with the general lack of knowledge of public aid, slows down the pace of actions.

At UCI we believe that it is essential to democratize access to information and funding. Only in this way can a true wave of urban renewal be achieved. Public aid is necessary, but insufficient if complementary mechanisms are not articulated that allow owners to face the rest of the investment in an affordable and sustainable way over time.

Private financing can and should be a driving force for companies, technicians and administrations, facilitating global and viable actions, and channelling public policies. For citizens, it must be the ally that makes their projects a reality with accessible solutions, with tools that respond to the complexity of these processes, bringing financing to communities of owners with a collective approach, compatible with being simple and adapted.

In this context, public-private collaboration is presented as the pillar that will make the transformation of the residential stock possible. In fact, the president of the ICO, Manuel Illueca, highlighted the importance of combining reimbursable and non-reimbursable instruments to make housing and social rental projects viable, stressing that “these formulas will completely change the current scenario and boost the sector by providing legal certainty”. At UCI we fully share this vision: the alliance between the different agents in the sector allows us to offer green financing products, technical advice, support during the execution of the project and comprehensive solutions adapted to each community of residents, differentials for the boom in renovation in our country. In other words, the success of the renovation does not only depend on having funds, but on facilitating its execution in an agile, coordinated and transparent way.

This third edition of the Rehavita forum has shown that public awareness of the importance of rehabilitation and its financing is growing. More and more people understand that improving the energy efficiency of their home not only reduces their electricity bill, but also increases the comfort, health and value of the property. Efficient housing prevents diseases, reduces healthcare costs and combats energy poverty, among other situations. Even so, this change of mentality requires continuity and pedagogy. Rehabilitation must be understood as a collective process, an investment in present and future well-being.

Undoubtedly, the end of the Next Generation funds in 2026 and the approval of the new National Renovation Plan to transpose the European Energy Efficiency Directive (EPBD) will mark a turning point in the financing of renovation. But beyond these deadlines and programmes, Spain needs to consolidate a stable and continuous ecosystem that encourages private investment and citizen participation. The challenge is enormous, but so is the opportunity. Rehabilitation should not be seen as an expense, but as an investment in resilience, employment and quality of life. At UCI we will continue to promote innovative financing solutions that make it possible for every home in Spain to have the opportunity to be rehabilitated in an affordable way.