For a buyer accustomed to the American, British or Asian property market, the DPE, the Diagnostic de Performance Energetique (Energy Performance Certificate), is often a discovery. This mandatory document, displayed on every property listing in France, rates properties from A (highly efficient) to G (thermal sieve). It now determines the sale price, the possibility of renting the property, and the renovation budget to plan for. When we support international buyers at Home Select, explaining the DPE is one of the first topics we cover, because it fundamentally changes the financial equation of a purchase in Paris.
The rating system: from A to G
The DPE assigns two labels to each property. The first measures primary energy consumption, expressed in kWh/sqm/year. The second assesses greenhouse gas emissions, in kg CO2/sqm/year. Since the 2021 reform, the worse of the two ratings determines the final class. An apartment that uses little energy but relies on an oil-fired heating system with high CO2 emissions can thus end up rated E or F despite a moderate energy bill.
In practical terms for a 70 sqm Parisian apartment, an A or B rating means an annual heating bill below 600 euros. A D rating, the most common class in Paris, corresponds to 800-1,200 euros/year. An F or G rating, what the French call a “passoire thermique” (thermal sieve), can exceed 2,000 euros/year: a figure that surprises buyers from countries where energy is less heavily taxed, but which weighs heavily on an owner’s budget.
The impact of the EPC on prices in Paris in 2026
The EPC has become a price factor as decisive as the floor level or the aspect. In Paris, where the average price reaches around 10,450 euros/sqm in 2026, the differences are significant. An apartment rated F or G in the 6th arrondissement (average price: 15,800 euros/sqm) is negotiated at a 10 to 20% discount compared to an identical property rated D. In concrete terms, on an 80 sqm property listed at 1,264,000 euros, the EPC discount can represent 126,000 to 253,000 euros: enough to fund a complete energy renovation and still retain a gain.
Conversely, properties rated A or B benefit from a premium of 5 to 10%. These properties are rare in the older Parisian housing stock: the vast majority of Haussmann buildings are rated between C and E, which reinforces their value. Our property hunters systematically incorporate the EPC into the financial analysis of each property: we estimate the cost of bringing the property up to standard and calculate the real acquisition price, works included.
The regulatory calendar: what is changing for landlords
France has adopted an ambitious calendar for progressively banning the rental of energy-inefficient properties. This is an essential point if your purchase is a buy-to-let investment.
Since 1 January 2025, G-rated properties can no longer be the subject of a new lease. Existing leases remain valid until expiry but cannot be renewed. From 1 January 2028, the ban extends to F-rated properties. In 2034, it will be the turn of E-rated properties. This calendar has no direct equivalent in Anglo-Saxon countries: neither the United Kingdom (whose EPC is less restrictive), nor the United States (where the Home Energy Score remains indicative) impose a rental ban linked to energy performance.
For an international buyer planning to rent out their Parisian apartment eventually, the energy class is no longer a simple indicator: it is a legal condition for operation. An investment in an F-rated property without a renovation budget is a risky bet that we systematically advise against.
How to read an EPC: the essential information
The DPE document is typically 8 to 10 pages. Here are the elements to analyse as a priority.
The two labels
The energy label (from A to G, in kWh/sqm/year) and the climate label (from A to G, in kg CO2/sqm/year) give the overall rating. A good reflex: check whether the rating is pulled down by consumption or by emissions. An electric heating system in a well-insulated building can give a B for energy but a C for emissions: the scope for improvement is then limited.
Works recommendations
The EPC includes costed works recommendations, ranked by priority. These estimates are often undervalued in the Parisian context: the constraints of older buildings (co-ownership, architectural regulations, site access) increase costs by 30 to 50% compared to standard estimates. When we analyse an EPC for our clients, we recalculate these figures with tradespeople we know who regularly work in Haussmann buildings.
Old EPC vs new EPC
EPCs carried out before 1 July 2021 used a method based on energy bills, which was unreliable for unoccupied properties or those occupied by people with atypical habits. The new EPC, in force since 2021, uses a conventional calculation method (3CL-2021) that assesses the building fabric independently of the occupant. An older EPC still valid (they last 10 years) can give a misleading picture of the property. If you visit a property with an EPC dating from before 2021, request a new assessment: it is a legitimate negotiation argument.
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The EPC in the context of a purchase: what our property hunters check
At Home Select, the analysis of the property diagnostics is an integral part of our selection process. We receive dozens of properties each week whose EPC warrants careful reading.
The first reflex is to check the consistency between the EPC and the visible characteristics of the property. An apartment with single-glazed windows, an old communal gas heating system and no visible insulation that shows a D rating deserves verification. EPC errors exist: the assessor may have incorrectly recorded the wall thickness or the type of glazing. An erroneous EPC can be disputed and redone at the seller’s expense.
The second point of attention concerns the actual possibilities for improvement. In a co-ownership (copropriete), external wall insulation, the most effective measure, requires a vote at the general meeting and the agreement of all co-owners. In practice, this is rarely achievable in central Paris for listed buildings or those in an ABF zone (Architecte des Batiments de France). The scope for individual action is often limited to window replacement (if the co-ownership rules allow it), floor insulation and changing the heating system.
How much does an EPC improvement cost in Paris
The cost of energy renovation varies considerably depending on the ambition and the building’s constraints. For a 60 sqm Parisian apartment moving from F to D, the price ranges observed among our clients are between 25,000 and 40,000 euros. Window replacement alone accounts for 8,000 to 15,000 euros for a three-room apartment (custom windows are mandatory in older buildings). Installing an air-to-air heat pump adds 5,000 to 10,000 euros. Interior insulation, the only option in most Parisian co-ownerships, costs 100 to 200 euros/sqm of treated surface, but reduces the living area by 5 to 10 cm per insulated wall.
These works are eligible for state subsidies (MaPrimeRenov’), including for non-resident owners, provided the property is the tenant’s main residence. The subsidy ceilings are modest relative to Parisian costs: expect 3,000 to 10,000 euros in subsidies for a renovation costing 30,000 euros. But they remain a lever worth activating.
The opportunity behind thermal sieves
The EPC also creates opportunities for informed buyers. A property rated F or G listed with a 15% discount can, after renovation costing 300 to 500 euros/sqm, move to class D and recover its market value, or even exceed it. This is a calculation we regularly perform for our investor clients: if the EPC discount exceeds the renovation cost, the operation is profitable from the moment the works are complete.
The trap to avoid: properties where the co-ownership blocks any significant renovation. If the building allows neither external insulation, nor window replacement, nor modification of the communal heating system, improving the EPC is virtually impossible. We systematically check the general meeting minutes to detect this type of blockage before our clients commit.
For an international buyer discovering the Parisian market, the EPC is a valuable tool provided it is read correctly. It summarises in a single letter the energy state of a property, guides negotiation and, in the case of a buy-to-let investment, determines the project’s viability. Since 2011 and more than 1,200 mandates, we have seen the EPC evolve from a trivial administrative document into a major decision factor, and our property hunters analyse it with the rigour it deserves.
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Frequently asked questions
Does the EPC exist in other countries or is it specific to France?
The concept exists throughout the European Union under the name EPC (Energy Performance Certificate). However, the French DPE has strong specificities: the calendar for banning the rental of energy-inefficient homes (G banned since 2025, F in 2028) is one of the strictest in Europe.
What is the impact of the EPC on the price of an apartment in Paris in 2026?
In Paris, an EPC rating of F or G results in a discount of 10 to 20% compared to an equivalent property rated D. Conversely, an EPC rating of A or B generates a premium of 5 to 10%. These gaps have widened since the rental ban came into effect.
Can you buy an apartment rated F or G in Paris as a buy-to-let investment?
Yes, but with an obligation to carry out energy renovation works. Properties rated G can no longer be rented since 2025, and F-rated properties will be banned from rental from 2028. Buying a thermal sieve can be an opportunity if the renovation cost is lower than the discount obtained.
How much does an energy renovation cost to improve the EPC of a Parisian apartment?
Allow 300 to 800 euros/sqm depending on the scope of works: 300-400 euros for window replacement and light interior insulation, 500-800 euros for a complete renovation including the heating system. A 60 sqm apartment moving from F to D typically costs 25,000 to 40,000 euros.
