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Green building features are getting cheaper

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Green building cost premium was diminishing over time, largely as a result of the growing maturity in the green industry.

Environmentally responsible behaviour has never been more important than it is today but the cost of implementing these measures has, historically, been the biggest hurdle.

No longer, says Adrian Goslett, regional director and chief executive of Re/Max of Southern Africa.

Citing a report published by the Green Building Council of South Africa in 2017, he says green buildings can be built for a premium of between 1% and 10%.

The report showed this green building cost premium was diminishing over time, largely as a result of the growing maturity in the green industry.

Also, findings from the joint MSCI/Green Building Council Sustainability Index show that, in South Africa, green buildings yielded a higher return on investment for property developers, owners and corporates.

This paints a “very positive” picture for environmentally responsible building practices in South Africa.

“I encourage all property developers to go the route of sustainable building when embarking on any new projects,” Goslett says.

“I also encourage consumers to support the housing developments that have Green Star SA certification.”

Homeowners should also watch this trend closely, especially when considering placing their homes on the market.

“As the demand for greener homes increases alongside the ever-decreasing costs of green building practices, the demand for environmentally responsible additions to the home will increase along with it.

“Homeowners who embark on these kinds of renovations now are, therefore, likely to protect the long-term investment value of their property,” Goslett says.

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