The region ranked first across many property sectors and occupier types in the Global Property Sustainability Survey from the Royal Institution of Chartered Surveyors covering the third quarter of
Agents reported the highest rises in demand for sustainable real estate solutions in the government, bank and commodity sectors. Agents also reported that both large and small occupiers have increased their demand in the third quarter of 2010 over the first quarter of the year.
Comments from respondents in the region indicate that sustainable real estate is a growing movement in Emerging Asia markets with governments introducing incentives for the initiation of green technology in the construction sector and the latest building trends focusing on ‘environmentally friendly’ design and ‘green’ features.
Overall, demand for sustainable real estate solutions looks set to remain strong in the region as respondents gave the most positive indication that sustainability has moved up the corporate agenda as a result of the Gulf oil spill (net balance of 62%) and that sustainable construction will not be overshadowed by issues of government debt (net balance of 33%).
In emerging Europe, respondents indicated that a government focus on addressing debt burdens is unlikely to impact materially on sustainable construction activity over the coming year. Agents report a strong increase in demand from hoteliers in this region, which this quarter posted a net balance of +34, considerably higher than in the first quarter of 2010.
Meanwhile in Western Europe, although some concern was expressed over the consequences for sustainable construction of the mounting debt burden, the proportion of respondents who took this view still represented a small minority of the sample.
Office occupiers ranked first in terms of implementing sustainable real estate solutions in this region, with professional firms taking second place.
‘It is interesting to see the dramatic rise in demand that has pushed Emerging Asia to the top spot when it comes to implementing sustainable real estate solutions,’ said Ursula Hartenberger, RICS global head of sustainability.
‘While not surprising given the uncertain economic outlook and the focus of governments in addressing the overhang of public sector debt, North America is expected to see a disappointing decline in the uptake of sustainable solutions. More positively, global implementation continues to rise and, overall, agents report that debt burdens are unlikely to completely derail the shift to sustainable construction,’ she added.
