Growing numbers of investors are searching for sustainable property developments, so developers who can create environmentally friendly projects will be at a distinct advantage in the years to come.
What is sustainability in property development?
There are several definitions of sustainability, but in general, it can be defined as creating buildings and developments that have minimal negative impact on the environment.
This includes everything from the materials used in construction to the way that the finished development is operated. To be truly sustainable, property development must be able to meet the needs of the present without compromising the ability of future generations to meet their own needs.
Sustainable property development must take into account the entire life cycle of a project. Developers must consider the environmental impact of every stage, from the sourcing of materials to the eventual demolition or decommissioning of the development.
To be sustainable, property developments must be designed with an eye toward long-term resilience. They should be able to withstand changes in the environment and continue to function properly for many years into the future.
Trends in greener materials and methods
Several trends are making sustainable property development more viable. One of the most important is the increasing availability of greener materials and construction methods. In the past, sustainable building materials were often more expensive than traditional options.
However, this is no longer the case. Thanks to advances in technology, sustainable building materials are now more affordable than ever before. This shift is making sustainable property development more feasible for a wider range of developers.
Many developers are now aiming to achieve 'net zero', which means the building is entirely self-sufficient, balancing out its energy consumption with energy production. In many cases, retrofitting existing buildings is the most effective way to meet growing demand for net zero.
In addition, there is an increasing focus on the use of renewable energy in sustainable property development. Solar power, wind power, and other forms of renewable energy are becoming more popular as developers look for ways to reduce reliance on fossil fuels. Renewable energy is often more expensive up-front, but can save money in the long run by reducing energy costs – making the building more cost-efficient.
The future of sustainable property development is looking bright. Thanks to advances in technology and an increasing focus on environmental issues, sustainable developments are becoming more and more popular. This is good news for the environment and for the future of the real estate industry.
Doing good equals good business
Sustainability is not just good for the environment – it’s also good for business. In today’s world, more and more people are looking to do business with companies that have a positive impact on the world.
By creating sustainable property developments, developers can show that they are committed to making a difference. This can help to attract new customers and clients, as well as to retain existing ones.
Bernardo Campelo of EQTY Capital confirms this: “Besides developer track record, project location and other fundamentals, EQTY places greater emphasis on those that hold sustainability in high regard. End users share this view increasingly, so interests are aligned as we seek to leave a positive impression on our environment.”
Sustainable property development is also becoming more popular with investors. Many investors are looking for ways to put their money into companies that are making a positive impact on the world. Sustainable property development is a great way to do this, as it provides both a financial return and a social return.
Overall, sustainable property development is a win-win for everyone involved. It’s good for the environment, it’s good for business, and it’s good for society as a whole.
Samantha North, Founder of Digital Émigré