Green Building - An Important Element For Leasing Commercial Real Estate
Commercial space for sale, commercial real estate for lease
The pandemic has nudged an increased demand for green buildings either in office spaces or for domicile purposes. In addition, given the current situation, as people become more concerned about their health and overall well-being, they want a space that consumes less energy, has natural sunlight, and is a breathable environment.
A Green Building is constructed and designed to utilize the maximum natural resources, conserving them in the process and eliminating adverse effects. Green Buildings try to produce minimum waste, thus providing a healthy work environment.
Advantages of Green Buildings in real estate
The advantages of Green buildings can be split into three sections:
Green buildings freshen up the environment. It minimizes the use of energy and resources and produces its own energy in the form of solar power.
It reduces the use of non-renewable energy sources that pollute the environment like coal and helps to lessen carbon dioxide emitted into the atmosphere, thus diminishing the rapidity of air pollution.
As a result, water-saving increased to nearly 7% in 2020. In addition, green buildings use 25% less energy than traditional buildings. As per recent reports, these green buildings can save up to 50% energy by 2050.
Despite initial investments, green buildings are pretty economical in the long run, benefiting a wide range of people. It improves employee productivity by improving their health and safety and saves money on energy, maintenance, and operational costs.
In addition, green buildings increase manufacturing productivity by 25% and lessen energy usage by 30%, benefiting the firms economically.
Economic analysts show that companies today are one step ahead by incorporating green buildings.
People working in green buildings have reported better health conditions and overall well-being, thus enhancing their productivity.
According to the US Environmental Protection Agency, health and well-being are supported by the indoor air quality in green buildings.
Poor air quality results from insufficient air circulation and different pollutants, giving rise to several respiratory disorders. Emphasizing ventilations and replacing non-renewable forms of energy with natural ones creates healthier and more comfortable work environments.
Why are green buildings so important in commercial real estate for lease?
Green buildings weigh on energy efficiency and rely on renewable sources of energy. Companies ensure this by installing solar plants in their buildings. Efficient water management tools like rainwater harvesting successfully reduce water usage in the buildings.
Building materials used are locally manufactured and create minimum waste as they are either recycled or reused. Cross ventilating structures improve indoor air quality, and the lighting used is mostly natural sunlight.
The future of green buildings as a commercial space for sale
The concept of green buildings started two decades ago in India. According to 2017 stats, nearly 4500 green building projects were completed or ongoing. Now, nearly 5% of the buildings in India are under the green building system.
In addition, governments are helping to skyrocket the demand for green buildings by certifying tenants and incentivizing them.
As per International Energy Agency’s (IEA’s) India Energy Outlook 2021 report, India will witness massive green building urbanization in the next 20 years.
The bottom line
Green Buildings are key to future commercial real estate success. In recent WHO surveys, poor indoor air quality contributes to lung and respiratory problems.
A considerable investment is being made to transform real estate into energy-efficient commercial spaces for sale. Experts believe the savings and environmental benefits will exceed the costs today.
According to recent surveys, the real estate uses almost 40% of the total energy consumption worldwide. As a result, commercial real estate now focuses on bringing in more energy-efficient traits to fight the increasing energy demands.