Zusammenfassung
The term sustainability is often used broadly and imprecisely in the real estate sector. This chapter highlights that real estate is sustainable if it provides a long‐term environmental, social, and economic benefit or avoids corresponding harm. From a dynamic financial viewpoint, real estate is only sustainable if it can hold its own against long‐term developments such as rising energy prices, ...
Zusammenfassung
The term sustainability is often used broadly and imprecisely in the real estate sector. This chapter highlights that real estate is sustainable if it provides a long‐term environmental, social, and economic benefit or avoids corresponding harm. From a dynamic financial viewpoint, real estate is only sustainable if it can hold its own against long‐term developments such as rising energy prices, demographic changes, or climate change. Additionally, the property market is in a constant state of flux with certain trends and developments of particular importance for real estate investors. Therefore, demographic change may pose a challenge for real estate stock in many developed countries, as the elderly require age appropriate facilities. For sustainable real estate investment, these developments can therefore be regarded as opportunities. Also, with respect to portfolio management, the different sustainability features of a property must be weighed against each other. However, conceptually, lack of sustainability can be viewed as risk.
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