DLA Piper has launched a report entitled ‘Towards a Greener Future’, which reveals that the market demand from occupiers is the driving force behind delivering sustainable real estate.
The report surveyed European real-estate investors and documents trends in sustainability and green certification in the real-estate market, highlighting its increasing importance. Real estate is responsible for the majority of Europe’s carbon emissions, putting improvements to sustainability high on the agenda.
Seventy-one per cent of respondents would be willing to incur higher investment costs for sustainable real estate, with many of these pinpointing increases in capital and income combined with lower operational costs and higher rents as enabling them to spend more on sustainability.
There is also a need for a single certifying body, according to 79 per cent of those surveyed. There are currently five principal national or international green standards, and almost two thirds of respondents named BREEAM (Building Research Establishment Environmental Assessment Methodology) as the preferred body. The body, although based in Britain, was popular across other European markets, suggesting it is not viewed only as a domestic agency.
More than 100 real-estate investors in Europe were surveyed for the report, providing an outlook for the sustainable real-estate market across the continent.
Click here to download the full report.