Environmental awareness and cost savings are two of the main reasons why energy efficiency become established as an important factor for both the buyer and the tenant.
What impact does energy efficiency have on the value of an asset?
There is growing awareness of responsible consumption of natural resources and sustainability. In this regard, energy efficiency does have an impact on the value of buildings. Firstly, because of its commercial appeal to buyers and tenants, and secondly because of corporate social responsibility policies, both on the part of developers and investors and tenants.
Likewise, the economic factor also plays an important role, as it is minimised in the asset's life cycle and, of course, in consumption. Therefore, profitability occurs in both the short and medium term: in exchange for an investment, the value of the asset increases, and the return comes from both savings in consumption and the revaluation of the asset.
It is true that, although measuring value through sustainability is a young science and the methodology is still poorly defined, sustainability undoubtedly implies an increase in the market value of assets, due to greater ease of rental and attractiveness to investors seeking sustainable assets. Therefore, the implementation of energy efficiency measures becomes a value in itself, especially as it generates demand.
Is energy efficiency compatible with containing construction costs?
Probably one of the most effective ways to incorporate high energy efficiency standards while controlling costs is to commit to the industrialisation of building processes. Several developers are committed to manufacturing modules in series, which are then installed on site once completed. The benefits are numerous (reducing deadlines and accidents and allowing for greater energy efficiency by significantly reducing the production of rubble).
Furthermore, although this initial investment is necessary, industrialised manufacturing facilitates efficiency, reducing costs in the long term. While stricter energy efficiency and sustainability requirements initially entail higher costs for developers, the industrialisation of construction allows for efficient production and cost-effective innovation in materials and systems.
Do consumers value sustainability when purchasing a home?
It is true that one of the concerns of customers is the high costs that implementing sustainability in developments may entail. On this point, two aspects must be considered: firstly, environmental awareness has already taken root in society and is something that consumers are demanding, so it is no longer optional for developers. Secondly, it should be noted that these systems mean savings for customers in terms of consumption, as well as financial savings.
In this regard, customers enjoy greater performance, better monitoring of expenditure and consumption, and a greater sense of comfort in the home (efficient and adjustable air conditioning, etc.), while also saving money in the long term. These features represent added value for the buyer/tenant and, both in themselves and due to their impact on sustainability, are an accepted and widespread cultural fact that cannot be ignored.