2008-10-03, 10:51

Home Buyers Increasingly Focus on “Green Features” over Luxury Amenities

By: Multifamily Real Estate Industry Team
In a recent article, Builder Online reported that green features, such as solar panels and energy-efficient appliances, are beating out luxury amenities as selection criteria for home buyers. http://www.builderonline.com/green-building/green-features-beat-out-luxury-amenities.aspx

There is little doubt in my mind that this sustainability trend will similarly impact the multifamily industry, as prospective residents increasingly focus on the “green factor” in their rental decisions. As a consequence, the incorporation and implementation of sustainability features and practices will be a compelling means by which owners and managers can differentiate their communities.

This trend reminds me of a time, about seven to ten years ago, before apartment communities ubiquitously offered residents high-speed internet services. Ultimately, high speed data services, whether through cable or telephony systems, became the norm. However, the apartment owners and managers that were first movers to offer “new economy” communications services captured more market share than others who ignored this trend and clearly established themselves as thought leaders in the industry.

Similar opportunities abound for owners and managers that are the first movers in embracing and incorporating green features and practices into their apartment homes.

(This entry posted by Pamela V. Rothenberg, a member of the Real Estate Development group)

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