Purpose

A comprehensive renovation of an apartment building increases energy performance, extends the building’s useful life, raises property values and improves the indoor climate. The support is meant for associations and local governments who wish to renovate their apartment building as fully as possible. The support can be combined with loans issued by credit institutions and the apartment association’s own funds. The support is available at rates of 15%, 25% and 40% (25%, 35% and 50% respectively in Ida-Viru County) of the total cost of the renovation, depending on how complete the renovation is.


Benefits

  • Energy savings
  • Healthful indoor climate
  • A home as good as new

For who?

  • apartment association

Important conditions

  • The support can be sought for apartment buildings that were built and entered use before 1993 in which an apartment association operates or which are completely in municipal or city ownership.
  • The support is available at rates of 15%, 25% and 40% (25%, 35% and 50% respectively in Ida-Viru County) of the total cost of the renovation. Support at a rate of 15%, 25% and 40% of the cost of an energy audit can also be sought if the energy audit was prepared before 1 January 2014.
  • The support can cover up to 50% of the cost of technical consultant and owner’s supervision service. Support can also be sought at rate of 50% of the cost of the construction project(s) if the construction design project(s) was/were prepared 1 January 2014 or later.
  • The 15% level of support is not available in Tallinn and Tartu unless the local government has established restrictions on building renovations in order to preserve its historical value or if a fuel-oil-based furnace is converted to renewable fuel in the course of the renovation work.
  • The support can be sought only for renovations that are specified in a basic building design project which is in the required form.
  • In the case of 25% or 40% support, the recipient must include a technical consultant in the planning and implementation of the renovation works. An agreement must be concluded with the consultant by no later than the submission of the application.
  • When applying for the 25% and 40% support, the construction design project will undergo expert analysis. This analysis will be organised and paid for by KredEx.

Application process

Application for the apartment building guarantee requires going through a bank, which organizes the guarantee and later reporting.

Banks that issue guarantees for apartment building loans: SwedbankCitadele Pank, Danske BankCoop Pank, Luminor, SEB Pank, Tallinna Äripank.

  • The apartment association’s annual reports for the last year
  • The apartment association’s cash flow statements for the last six (6) months
  • Report on the apartment owners’ indebtedness
  • Technical inspection report, energy audit or building permit for the apartment building
  • Apartment building’s management plan.
  • General meeting decision(s) specifying purpose of the loan, taking of the loan, maximum loan amount, use of KredEx guarantee, approval of management plan.

Contact us

Kaimo Kalda

Client Manager
kaimo.kalda [at] kredex.ee

Kalle Kuusk

Buildings' energy efficiency project manager
kalle.kuusk [at] kredex.ee