Resource conservation, greening and land use
Sustainability had a much better image in previous years. How can you focus on environmental protection when the affordability of housing appears to be the dominant issue?
For ÖGNI, sustainability not only means ecological optimisation. Social sustainability is just as important and, especially in this area, we are exactly in touch with today’s trends. Sustainability has many different, massive positive cost effects – which means it doesn’t contradict affordability but, in fact, is a basic requirement. And that makes it an enormously important success factor for investors, including institutional investors who acquire entire properties as well as private persons who rent individual investment apartments. This connection is immediately visible in many areas, for example through energy-efficient buildings that minimise heating costs or the use of sustainable energy sources. Here, the direct cost reduction through sustainability is clear, while the connection in other sustainability areas is more complex and needs our attention to create a greater awareness.
What exactly do you mean?
One of the most important issues, for example, is location sustainability, independent of the sustainability of particular buildings in the area. When we take a broader view of housing costs than the basis used to calculate conventional operating expenses, we also see a substantial influence. A location where the connections to public transportation are so sporadic that every household needs one or two cars makes it expensive for tenants and, consequently, less socially sustainable than a location where these costs are lower. A greenfield property that needs new traffic routes, sewage and electricity connections, and an urban infrastructure like day- care centres and schools has disadvantages not only from an ecological standpoint but is also expensive for the municipality – which makes it ecologically less sustainable than an increase in urban density.
The sustainability of a property is certainly not easy to identify for investors or tenants – what role do sustainability certificates play here?
A wide range of factors must be examined and evaluated to determine the sustainability of a building. Sustainability is not only a func- tion of ecological measures, social and economic criteria are also important. When an investor or tenant wants to learn more about the sustainability of a property before the contract closing, they need to see a certificate that covers all aspects of sustainability. A building that is confirmed to be sustainable has lasting value and will also make people happy for years to come – which is another important point for investors.
Your certification system includes various sustainability standards. Does it pay to always target the top level or, in the end, is a silver certificate, for example, also acceptable for investors in view of the economic optimisation?
A silver-certified building meets all legal requirements defined by the current building code and, in addition, is well planned and refur- bished or built in agreement with individual sustainability aspects. A look at the details in the certificate shows where the property’s strengths are located. Generally speaking, it is not necessary to limit the search to platinum- or gold-certified properties – here we shouldn’t forget that these two certification levels require additional investments that are reflected in the purchase price or rent. Sus- tainability can easily be compared with a triangle: The three “corners“ – ecology – economy – society – must be synchronised. And that is what you can learn from a certificate issued by the Austrian Sustainable Building Council.
Peter Engert
CEO, Austrian Sustainable Building Council ÖGNI (Österreichische Gesellschaft für Nachhaltige Immobilienwirtschaft)
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