No, this type of external shutters is standard for German homes, so tells not much by itself.
As for the efficiency: Buildings here are mainly designed for colder weather, with the intent to keep the warmth inside and at a constant temperature (thick, massive walls and insulation on the outside). And at this, they are very efficient.
But during the recent, unusually long heat waves, once the heat managed to seep in (typically after 3-4 days), you are basically screwed, as you have no chance to lower the inside temperature without AC.
Temperature stays high even at night, trapped in the walls.
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