tailieunhanh - Redefining Sustainable Real Estate Investment

Sustainability is a powerful buzzword for good reason. It is strongly connected to notions such as endurance, flexibility, quality and alternative thinking – all of which are increasingly emerging as building blocks of financially successful enterprise. And real estate that has incorporated these aspects clearly is increasingly acquiring a competitive advantage over other product in the market. Sustainability then, as far as real estate is concerned, is about the more durable processes and practices of the humans that interact with the property. Implicit in this sustainability approach to real estate investment is the exercise of greater social. | Redefining Sustainable Real Estate Investment Philip Kimmet School of Urban Development QUT GPO Box 2434 Brisbane Qld 4001 Australia. Contact The importance of the social aspects of real estate investment is very much understated. The notion tends to be interpreted along economic lines. Measuring and reporting the social sustainability of real estate has the potential to not only influence investment patterns it also impacts on what a real estate is ultimately worth. More importantly it can help change community perceptions about what we value most about modern society. Sustainability is increasingly being viewed as a non-negotiable added extra that comes at a price although it can offer financial rewards particularly over the longer term. These rewards are measured in micro energy efficiency recycling etc. and macro terms greenhouse gas reducing less resource depleting etc. and are nearly always environmentally-based. The social aspects of sustainabilty productivity well-being etc. must also be seriously considered. However financial rewards from investment in this area are less understood. As a result the measuring valuing and reporting of social sustainability is significantly less developed. Demonstrating that social sustainability is identifiable desirable and value adding is essential if it is going to really matter to real estate profiles any time soon. b uildings in cities are . the physical basis for social networks. The hardware city of infrastructure and buildings is interrelated with the software city of habits traditions networks markets and social relationships. Hall and Pfeiffer 2000 98 Introduction Social sustainability tends to be viewed as the softer - politically correct component of sustainable development. This is a poor yet widely-held misreading of the very tangible benefits social sustainability can bring to a real estate or as is the focus here investment in real estate. Much greater clarity of the influence of social .