Emerging Asia leads the world in the implementation of sustainable real estate solutions finds the Q3 2010 RICS Global Property Sustainability Survey, published today, January 19, 2011.
The region ranked first across many property sectors and occupier types in this quarter's survey, with agents reporting the highest rises in demand for sustainable real estate solutions in the government, bank and commodity sectors. Agents also report that both large and small occupiers have increased their demand Q3 2010 over Q1 2010.
Comments from respondents in the region indicate that sustainable real estate is a growing movement in Emerging Asia 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 in this region 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 Q1 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.
Commenting on the survey findings, Ursula Hartenberger, RICS Global Head of Sustainability, said: "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. 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."