There are key factors that contribute to the sustainability in the real estate industry, all of which work together in order to create a long-lasting environment. Sustainability starts from the top of the chain, including government and corporations, down to property investors and homeowners. Sustainability works towards a brighter future for the real estate industry, both commercial and residential.
Green Building Councils around the world have been a considerable part of the success and growth for the future of sustainability within the real estate industry. Australian Building Council leader Romily Madew explains in Steve McLean’s RENX article, “It’s about addressing climate change, boosting biodiversity, enhancing public domain, improving water management practices and building healthier and more resilient cities.
Green Building
Green Homes are an essential part of this sustainability. Building green homes help communities, government and the economy as a whole. Green buildings are structures that have supported the well-being of the environment from the start of construction to the finished product. These homes are already a very popular investment and will only increase in the future of residential real estate.
Government Participation
Global issues are shaping the responsibilities of governments and their role in sustainability for the future of the environment. Holding these leaders accountable for the prosperity of the environment, in a world where growth and industry thrive.The Green Building Councils work closely with government leaders in order to find ways to create and distribute funding for real estate projects.
In particular, Canada’s government leadership started developing infrastructure funding, to promote and fund the construction of green homes and buildings. This development will help to address climate change and other environmental issues. Thus, raising the bar for commercial and residential progress.
Sustainable Real Estate Investors
Green buildings have started to attract higher revenue which has become the new trend in commercial buildings. Because there is a lower risk to invest in green buildings, investors realize the benefits they receive financially, such as lower interest costs. This continued research helps build up more sustainable development, getting investors to understand the importance and benefits of green premiums. Furthermore, green buildings are more efficient and more cost-effective to property manage.
Advances in sustainability within the real estate industry is an process of investments and funding that will continue to grow, especially with it grabbing the attention of more and more corporations, real estate investors and homeowners. Ongoing initiatives will be tracked and updated for the Green Building Councils around the world, striving for better environmental upkeep with commercial and residential real estate.
