A new study led by the Royal Institution of Chartered Surveyors has shown a clear link between the environmental friendliness of a building and its market value.
LONDON A new study has shown a clear link between the environmental friendliness of a building and its market value.
The international study, led by the Royal Institution of Chartered Surveyors, (RICS) found that green buildings can:
--Earn higher rents and prices
--Attract tenants and buyers more quickly
--Cut tenant turnover
--Cost less to operate and maintain
RICS chief executive Louis Armstrong said: "This research shows that the interests of business and the environment can converge. The property and construction industries have a leading role to play in tackling climate change. This work shows that achieving real environmental benefits can also be profitable."
Around 40% of carbon emissions come from buildings so finding incentives to make them greener is critical, he added. However, while the environmental benefits of green buildings are clear, the question of whether they add tangible value or not has never been fully explored.
Thomas Mueller, Canada Green Buildings Council President said the conclusions show that more work needs to be done on the value of green buildings, but that the findings are encouraging:
"Evidence that sustainable practices can add value supports the claims and direction of the green building industry. This is an important step towards greater acceptance of green buildings in the marketplace."
Source: Edie News, Greenbiz.com