Green Real Estate! Here's Why New-Age Buyers Prefer Sustainable Homes, All You Need To Know

The new generation of home buyers has levelled the demand for amenities required for a living place. Traditionally, significant demands are for well-designed, well-located, and budget-friendly homes, but the scenario has changed. The new-age home buyers are more inclined towards environment-friendly homes that drive sustainability.

Sustainability has been under the spotlight regarding fashion, mobility, and development goals for a long time, but it now has a lot to do with living. Several real estate developers claim that it has become easy to convert customers by offering them amenities like solar rooftops, wind turbines, water management systems, and waste recycling machines.

According to research conducted by the international property consultant CBRE, green real estate assets and ESG buildings (Environmental, Social, Governance) have increased by 37 per cent in the last five years. The increase in demand can be seen among buyers because of greater awareness and a sense of realisation for sustainability.

Why Select Sustainable Homes For Living?

According to a McKinsey report, real estate assets account for more than 38 per cent of the total global emissions. Being an energy guzzler, it consumes about 40 per cent of energy and contributes significantly to greenhouse gas emissions.

Traditional homes release 11 per cent of the greenhouse gas in the construction phase (steel, cement manufacturing), and the rest is contributed through using power to operate appliances. The data clearly shows why customers are shifting towards sustainable homes.

The government has also taken several measures to promote sustainable living homes through different projects and initiatives. In May 2022, Prime Minister Narendra Modi inaugurated 1,152 houses built under the Light House Project, which were designed to support the environment and drive sustainability.

Despite being expensive, the buyers are still looking for sustainable offices and homes as it's worth the investment in the long term. Many real estate companies claim that within seven to ten years, the buyers can recover the cost they spent buying the asset by saving largely on energy bills. It also has health benefits that intensively attract buyers.

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