Spain's CEE — regulated by Real Decreto 390/2021 — is no longer just paperwork required for sale or rental. The new EU EPBD directive will force a fundamental rewrite: the A rating will be reserved for zero-emission buildings, and carbon-footprint and material lifecycle indicators will enter the scale. Much of Spain's residential stock currently sits at E, F or G — meaning the rehabilitation market becomes the central FM workstream. SATE insulation, glazing replacement, thermal-bridge elimination and aerothermal/geothermal/PV systems are the headline interventions.