110% superbonus breaks through 100 billion: race to complete works

The superbonus closes 2023 at 100 billion in accrued deductions. That's how much the tax rebate benefits are worth, according to the report published by Enea, the agency for new technologies, energy and sustainable economic development. The last few weeks of the year, then, were characterised by a race to grab the tax rebate, which as of 2024 has been cut to 70 per cent in apartment buildings and cancelled in cottages and single-family homes.

To avoid the rate reduction, thousands of apartment blocks tried to concentrate as much spending as possible in the last weeks of last year. The result is a record month for the maxi relief. The investments made amounted to just under EUR 6 billion. Almost all of them were concentrated in condominium construction sites: this item is worth EUR 5.7 billion. Little work, on the other hand, went into the building sites of small villas and single-family homes. In total, this amounts to approximately 200 million euro.

The most interesting figure, however, concerns the milestones achieved by the relief. The total of deductions accrued, between 90% and 110%, is in fact 99.7 billion euro. This corresponds to 102.7 billion euro of initiated investments and 91 billion euro of completed works. In the case of cottages and detached units, work has essentially almost always reached the finishing line: approximately 95% has been completed. The completion rate for apartment buildings, on the other hand, is much lower. They have stopped at 85 per cent: this means that 15 per cent of the building sites have yet to be completed and will have to utilise the reduced 70 per cent subsidy.