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Dwelling houses - Facility management and finance management for renovation

Dwelling houses - Facility management and finance management for renovation. Ing. Miloš Blanárik Communication director 6th december 2013 . HISTORY. Between 1948 and 1990 owning property in Slovakia was almost impossible

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Dwelling houses - Facility management and finance management for renovation

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  1. Dwelling houses -Facility management and finance management for renovation Ing. Miloš Blanárik Communicationdirector 6th december 2013

  2. HISTORY • Between1948 and 1990 owningproperty in Slovakia wasalmostimpossible • Allland and realestatewasgovernment-ownedandonlyrented to anyonebuilding a house • Largenumberofresidentialunitsconstructed (up to 45,000 per year) • Regulatedmaterials • Factory-produced - poor qualityconstruction • Virtually no maintenance and never renovated • 1990 - privatepropertyreturned - populationhungryforrealestate • 1993 - Act 182/1993 on ApartmentOwnership - 97% ofresidentialhousingprivatized by 2005.

  3. CONSEQUENCES OF PRIVATIZATION • Propertyprices rose 100-fold between 1992 and 1993 - becameunaffordable • Onlyworkablemechanismforfinancingthepurchaseof a home - buildingsocieties - wereestablished just in 1992 and thefirstloanwastakenout in 1994 • Purchaseswereprimarilyfinanced by savingsfromthepreviouserauntil 1996 • End ofqualifiedinstitutionalinvestors - riseofdevelopermarket • Lackoflabor mobility due to housingshortages

  4. EXISTING HOUSING – FACTS AND DEVELOPMENT • Residentialhousing in Slovakia comprisesalmost 900,000 dwellings. • 3/4 ofthemwereconstructedwithpanel-housetechnology and mass-producedusingstandardizedsolutions - thisended in 1993. • Up to 80% ofthemwerebuiltbefore 1993 and most ofthemcurrentlyrequirerenovation.

  5. CONSEQUENCES OF PRIVATIZATION – INFORMATION VACUUM FOR NEW OWNES ABOUT ITS PROPERTY • Housingtransferredfromnational to localgovernments • Residentialunitssold to thelocalpopulationfor a symbolicpriceof €1,000 - only 3% ofthemremainedmunicipallyowned • Neglectedresidentialblocks and unitsrequireimmediateemergencysolutions - roofs, boilers, elevators • No systemexistedbefore 2000 forfinancing major investments in major multiple-dwellings - onlyforindividualunits and single-familyhouses • In 2000, legislationallowedbuildingsocieties to financerenovations, subsequentlytaken over by SHDF (State HousingDevelopmentFund) and commercialbanks

  6. OWNER EXPECTATIONS... • Dwellinghousesrenovationsfundedby thegovernment – notreal • Assistancecanbeobtainedforrenovations to a limiteddegreeforsystembreakdowns - and only a smallamount per year - delayedrenovation • People get resigned - let someoneelsetakecareofit • ...AND FACT • PSS, a.s., has developed a systemforfinancingrenovationsincludingsecuringaloan.

  7. CURRENTLY – MAIN ECONOMIC INSTRUMENTS FOR FINANCING MUTTIPLE-UNIT RENOVATIONS • ASSISTANCE to eliminatesystembreakdowns (up to a maximum 50% ofeligiblecosts) and forsolarcollectors • GOVERNMENT LOANS - from SHDF • BUILDING SOCIETY LOANS - withgovernmentbonusesforownerassociations • COMMERCIAL BANK LOANS • GOVERNMENT BANK GUARANTEES • OWN RESOURCES (savingsforresidentialblockrepairs...)

  8. PRVÁ STAVEBNÁ SPORITEĽŇA, A. S. • ...isa bank thatspecializes in housing. • Ithas operated in Slovakia since 1992. PSS, a. s., offers: • preferredsavingswithgovernmentbonuses • and affordablehousingloans • notonlyforindividualsbutsince 2000 forlegalentities, too. BUILDING SAVINGS: • Closedsystem • Independentofcrisis-relatedchanges in thefinancialmarket • Stableconditions

  9. BULDING SAVINGS FOR LEGAL ENTITIES • Designedprimarilyforownersofresidentialblocksuites and offices to manage: • Residential and non-residentialownerassociations • Housingcooperatives • Othersuperintendentsmanagingmultiple-unitdwellings GOVERNMENT BONUSES FOR OWNER ASSOCIATIONS: • Governmentbonusesforownerassociations in 2013 - maximum €66.39 per every 4 units • Annualcontributionof €577.30 for a government bonus

  10. RESOURCES FOR HOUSING

  11. SHARE OF PSS, a. s.

  12. TOTAL RESOURCES FOR HOUSING (PSS, a. s.) mil. € Totalvolume 2013 420,07 mil. € Totalvolume 21 years 7,64 mld. € new homebuilding buying reconstruction anotherpurposes

  13. HOW A BULDING SAVINGS AND LOAN CAN BE USED • Buildingsavingscanfinancetotalrenovation, modernization, constructionwork, repairsatmultiple-dwellingcommonareas and facilities, alsoalternativeenergysources and residential-blockenergycertification • GENERAL CONDITIONS • 2/3 ofownershavetheirloans and securityfortheloanapproved • Targeteduseoffunds in accordancewiththeBuildingSocietiesAct • Sufficientcreditworthiness (creating a fundforoperations, maintenance and repair • Securing a loan

  14. HOW A BULDING SAVINGS AND LOAN CAN BE USED Ventilation Staircases Wallfacing Roofs Floors Alternatelyresourcesofenergy Lifts Back-firemachines Windows and doors Statics Energydistribution Foreside Water and gasdistribution Electroinstallation Heatingapparatuses Window grillage Basises

  15. CREATING AN EDUCATION SYSTEM PSS, a. s. • Partners in education • Targetgroups- superintendents, housingcooperatives, communityownerassociations, owners, municipalities, developers • Instructors- Slovak UniversityofTechnology, TSUS, VVUPS, UniversityofEconomics, governmentrepresentatives - MinistryofFinance, Ministryof Transport, Construction and RegionalDevelopment • Higherinstitutionallearningatuniversitiesare replaced by accreditedagencycourses - 3 in Slovakia Licensingsuperintendents: • Anyonecancurrentlybe a superintendent with no propertraining • Developspecificlegislationgoverningsuperintendents

  16. CONSEQUENCES OF UNQUALIFIED SUPERINTENDENTS • Highenergyconsumptionatblocks • Preferenceforcheap and ineffectivesolutions • Highequipmentfailure rate and highmaintenancecosts • Persistencefaultsdue to complexityofownerdecision-making • Lackofqualifiedcontractors

  17. REGULATION AND INCENTIVES TO RESTORE AND UPGRADE PROPERTIES • Energycertificatesunderlying transfer ofproperties • Regulatoryconditionsforloansinvolving EU ans SHDF funds -minimum 40% savingsenergy • Motivationalconditionsforloansfrom PSS, a.s. - complexity and higherloansatlowerinterestrates • Repayingloansfrommoneysaved in usinglessenergy • Realestatemarketfrozensince 2009

  18. MOTIVATION • Competeforthebestrestoredmultiple-dwelling • Awardsforexemplaryrestorationsofhouses • Televisionshows - Energetika Slovenska (Energy Slovakia), Bezpečné bývanie (AffordableLiving), Prrerábame, sporíme, staviame (Design, Save, Build), Obnovme si domov (RestoreYourHome) • Discounts on materials and laborfromaround 700 PSS, a.s. partners • Freehomeassessments - onlyforsavingenergy

  19. WHAT TO FOCUS ON... 1. • Housesneed to berenovatedaboutevery 20 years 2. • Regularrestoration and maintenance (every 5-10 years) issignificantlycheaper 3. • Savingscanbeimmediatelyseenateach step asthehouse’soperatingefficiencycontinuesgrowing 4. • Property never loseseitheritstechnicalparameters or itsworth 5. • Thereispermanentpressure on ownersofpublicinstitutionsdue to improvements and maintenanceofpublicspaces

  20. QUALIFIED PROPERTY MAINTENANCE • Requiresqualifiedservicestaff - superintendents and contractors • Requiresmotivatedownerswithskills • Requireshigh-qualitypropertymaintenancelegislation • Requires a systemofinstitutionaleducationofsuperintendents and owners • Requires transparent access to information on propertymaintenance and technicalequipment

  21. THANK YOU FOR YOUR ATTENTION Ing. Miloš Blanárik Prvá stavebná sporiteľňa, a. s. Bajkalská 30 829 48 Bratislava e-mail: mblanarik@pss.sk

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