Sustainability in Real Estate
Sustainability in Real Estate
Sustainability in Real Estate is an emerging trend, with more than 70% of real estate developers now taking green measures as part of their brand identity and revenue generating.
Corporate leaders believe that factoring climate and sustainability considerations into market decisions will yield long-term financial advantages.
Environmental Impact
Implementing sustainability into real estate is a powerful way to reduce environmental impacts and advance equity. This includes installing energy-saving technologies and designing energy efficient buildings; responsibly sourcing materials; and creating sustainable tenancy models.
Buildings account for an estimated 40% of global energy consumption. Adopting green practices and designing zero-energy or net zero carbon emission buildings will significantly lower this figure.
Sustainability initiatives provide financial benefits in terms of reduced operational costs and increased property values, as well as attracing environmentally aware tenants to your building and increasing productivity.
One particular statistic about sustainability in real estate stands out: 61% of corporate leaders agree that it creates market differentiation and increases revenue, signaling an industry trend to put greater importance on eco-friendly construction to promote a healthier planet.
Social Impact
Real estate developers can make an enormous impactful statement about the values they care about by designing homes and buildings with an eco-friendly aesthetic. To do this, real estate developers can utilize energy-saving technologies such as renewable energy sources like solar panels, wind turbines and geothermal heating/cooling systems; such energy-efficient technologies will significantly decrease carbon emissions as well as operational costs for their projects.
Adopting sustainable real estate practices can also attract an environmentally-minded clientele, which leads to an increase in revenues for businesses. 75% of businesses that have implemented sustainable features report an increase in property value as a result.
Investors, employees and the public have increasingly put pressure on business leaders to adopt more sustainable strategies – something especially true in real estate as one of the major emitters. BCorps (benefit-oriented corporations) demonstrate how corporate citizenship can be profitable. Communities may encourage or dissuade responsible real estate development projects by supporting developer-friendly land use regulations or offering tax incentives which encourage responsible projects.
Economic Impact
Real estate developers and landlords who take sustainability seriously will reap financial benefits. Not only does sustainable construction contribute to an eco-friendlier building environment, it can reduce energy use and CO emissions significantly.
Sustainable paints, windows and insulation help lower energy costs while adopting renewable technologies like solar panels and geothermal energy systems reduces dependence on utilities while decreasing carbon footprint. Natural ventilation and water conservation also offer cost savings features.
Not only can green properties have an environmental benefit, they also serve as an excellent marketing strategy. Tenants — particularly younger tenants like millennials — have become increasingly conscious of their carbon footprint and will pay an increased rent or purchase price to rent or purchase such properties.
Corporate tenants in particular are realizing the significance of green real estate. 61% believe sustainability creates market differentiation and increase revenue, providing an ideal marketing opportunity to draw in clients to their companies.
Health Impact
Consumers today, particularly millennials and Gen Zers, are seeking greener real estate choices. This requires developers and investors to incorporate sustainable building practices into their properties in order to attract a wider pool of environmentally conscious buyers and tenants.
Sustainable building techniques help lower operating costs while simultaneously reducing carbon emissions and impact on local resources. Utilizing energy-efficient appliances, low-flow fixtures, and high-efficiency HVAC (Heating Ventilation Air Conditioning) systems can all reduce utility bills significantly while water efficient designs can minimize impacts by recycling greywater (waste water from baths and sinks) for irrigation or other uses that don't necessitate pure water supplies.
One sustainable practice is creating net-zero buildings, which generate enough renewable energy on site to offset their total energy usage. While this requires advanced energy-efficient technologies and long-term investments, this practice can result in significant cost savings and improved resilience against power outages. Achieving this goal requires partnerships between government agencies and private enterprises.
Want to learn more about the sustainability of Real Estate? Contact the Savannah Area Realtors at Trophy Point Realty Group for any questions you have about buying, selling, or investing in real estate. Check out their blog for helpful investment tips, and monthly real estate trends in the Savannah Real Estate Market. Not looking for a home for sale in Savannah? Their blog covers tips for first time homeowners, homebuyers, and great advice on how to get the best deal for your home in today's market.
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Sustainability in Real Estate Sustainability in Real Estate is an emerging trend, with more than 70% of real estate developers now taking green measures as part of their brand identity and revenue generating. Corporate leaders believe that factoring climate and sustainability considerations into market decisions will yield long-term financial advantages. Environmental Impact Implementing sustainability into…