In today’s world, it’s more important than ever to start focusing on the impact humankind has on our planet. People are starting to become more aware of nature in general and the impact they make.
One of the ways people can make a positive ecological impact on planet Earth is by buying so-called green homes. What is green real estate, and why should you care? We decided to write a brief article explaining all the essential information you need to know about this trending topic
Without further ado, here is everything you need to know about green real estate:
Introduction to a booming industry
As already mentioned, people are starting to recognize the impact we have on our planet, and more people every day are finding the desire to do something with it. Living in harmony with nature is something we all truly desire somewhere deep inside of us. Green real estate, however,
doesn’t necessarily mean you have to build your home in the middle of a forest completely out of the city and out of contact with other people.
What green real estate represents is more so the attitude of humanity towards nature. It is about taking responsibility for our impact and developing properties that are more ecological and energetically efficient.
A plethora of people don’t know that commercial real estate properties account for 30% of all greenhouse emissions in the world, and these numbers would be rising even higher if it weren’t for green real estate.
What aspects does green real estate consist of?
It is not only solar panels that make the difference. Other aspects of this movement are eco-friendly isolation, xeriscaping (a way of landscaping where the plants require little to no irrigation), and passive design ( architecture that utilizes the natural environment around the property to heat and cool it rather than relying solely on heating and air conditioning).
Combine all these aspects, and you get homes of the future that are better looking, less energy-efficient, and, most importantly, less harmful to our planet.
Advantages of green real estate
There are two main reasons for green real estate development in the United States. These are the client demand and healthier environment. But the economic benefits also can’t be overlooked. Increased asset value, shorter payback periods, and operating cost savings, just to mention a few, are the reasons that green real estate is starting to look more attractive to everyone.
Speaking of asset value, it is proven that upfront investment in green building also makes the properties more valuable, with many building owners seeing an increase of up to 10 % increase in their asset value.
When it comes to operating cost savings, green buildings have proven to reduce day-to-day costs year over year. These types of buildings report having almost 20 % lower maintenance costs than the average commercial buildings.
If you’re thinking about how big the market for such properties is, we can assure you that green buildings are for every market and every community in the States since it’s not just a small movement some people can join.
It is more so a trend that is going to take over the whole real estate industry and revolutionize it for the better.
Not only does this booming industry help our planet and make our buildings look better, but it also creates millions of jobs in related industries and contributes billions and billions of dollars to the U.S. economy.
Green real estate development– building a cleaner future
As you may have already conducted from the information given, it is vital for cities around the world to help cut their long-term carbon footprints. To achieve this ambitious goal, we first need to change not just the way
buildings are constructed and run but also the overall perception of sustainability by society.
If we look at Singapore, for example, in the early stages, the green real estate movement did not receive enough attention, respect, and interest from the general public and investors. However, times have changed, and so did the mindset of people as we start seeing some mature issues with carbon emissions worldwide.
Singapore’s Building and Construction Authority (BCA) has added a certificate called the Greem Mark, which helps boost the developer’s corporate image and the prestige of its development.
Such moves are creating an uptrend when it comes to the demand for green real estate, and the results are already starting to occur. Over the past decade, Singapore has greened almost 30% of its building stock, including features such as using eco-friendly construction materials, water efficiency, and improving energy. It currently is on a good track to achieve the goal of greening over 80 % of all its buildings by 2030.
Singapore is truly an excellent example of efficient green real estate. Another thing the Singapore government does is that it offers incentives for higher green building ratings.
However, this does not mean that the older buildings are left behind. For older buildings, the Singapore government also provides support to property owners to co-fund up to 50 % of the energy-efficient retrofit cost.
Singapore truly is an existing proof that green real estate is achievable and that being profit and nature-driven at the same time can be path humankind can and should take.
After reading our article, we believe you now have all the necessary information about green real estate development and the advantages it brings.
As people start paying more attention to what’s happening in the world, we’ll start seeing this movement to be on an even bigger uptrend in the upcoming years. Together we can create a remarkable ecological and energy-efficient way of living in the cities.