Housing renovation is a topical issue in CEE countries facing the need to tackle their troubled post-war housing estates and improve their energy efficiency. In this paper the renovation decisions of households living in multidwelling buildings are modelled to identify the key determinants of such decisions and to gain a better insight into the reasons for the insufficient extent of renovation in CEE. Considering general factors as well as CEE specific factors, and specifically adding variables of social capital, renovation decision-making is modelled by applying a discrete choice framework of analysis. The results clearly show that, next to the physical characteristics of the stock, such as its age, an important role in the renovation process is played by residents and particularly their relations in terms of social capital. The results thus identify some of the key missing pre-conditions for renovating multidwelling buildings across CEE.