Regardless of the non-compliance with the Kyoto Protocol, the United States of America still helps Mother Nature by taking part in green real estate. This doesn't only mean an increase in the amount of construction supplies corporations with green friendly products, it also leads to foreign players having a piece of green properties.
According to current real estate news, corporations such as Goldman Sachs, IBM Corp., Toyota Motor, and JPMorgan Chase have already made a move towards green friendly properties. Aside from that, there are other companies including Bank of America and Accenture are on its way to getting themselves their own buildings made using green materials. Whether through construction or leasing, said companies are determined to go green.
Maybe it is due to constant information dissemination regarding global warming as well as other environment-related dilemmas, green real estate is now becoming one of the fastest growing sectors of an already booming industry of commercial properties. Based on current market reports, approximately 5% of new commercial buildings all over the United States of America have attained the LEED (Leadership in Energy and Environmental Design) certification just||as of the previous year. Approximately 10% more are to follow by next year. This statistic does not even include residential properties, that are also predicted to undergo a change.
In addition, the change is affecting not just with new buildings, but also in already existing buildings as well. Developers such as the Durst Organization as well as Hines are cutting half empty office buildings then placing them under renovation. Everything is altered according to eco-friendly standards. This is done to increase rent by 3% higher compared to the previous charge as well as amplify the property value by 7.5%.
Real estate news also notes that aside from a possible increase in rent, these are also utilized because they can save up to ten percent in utility spending each year. A number of the already existing green real estate use up forty-two percent less electricity and it also consumes 34% less water compared to traditionally constructed properties. More importantly, as innovation on sustainable materials keeps up, green constructions are predicted to be more cost-effective.