Property investment firms have many responsibilities. While most of their responsibilities lie primarily to their share holders, many firms though are learning to balance that responsibility with the one they have to the environment and future generations. Many companies have in the past avoided any attempts to create eco-friendly properties because of the high initial costs. Only recently have firms begun to realise that this initial investment is necessary to create sustainable growth in various areas of the world. As more of the world begins to see the effects that pollution has on the environment, interest groups and governments are looking to the hospitality industry to play its part.
Eco friendly hotels are starting to become more common, but for the hotels that are already in existence, the question becomes "What can be done?" While most pre-existing hotels will never be as eco-friendly as a newly built eco hotel, modifications can be made to lessen the effect they have on the environment. The first step for most developers is to do an energy audit. Determining what areas are wasting a significant amount of energy and using eco-friendly measures may correct the issue. The average tourist uses significantly more resources then the average local. Every effort must be made to recycle especially in areas that may not have a well defined recycling plan.
The question, though, is whether or not these methods will keep a property investor from being able to realise any profit. Initially these methods may be more expensive but with more focus being placed on energy conservation, many eco-friendly developers have noticed a rise in sales. Many consumers are looking to do their part to minimise their impact on the environment. Eco friendly development may be a recent change in the industry, but it represents a shift in the market. Over the next several years, continued strain on global energy reserves will force more developers to focus on building properties that produce less carbon and have a minute impact on the environment.
Bramall Construction is one such developer. Based in the United Kingdom, this certified eco-friendly developer has officially opened 82 new properties that are quite affordable by any standard. Some houses have already been sold for about £55,000 (shared ownership). This is an important step for housing in the UK.
