The issue of eco-friendly properties is one which has been around in some shape or form for many years. As eco-friendly policies are developed by various governments so this has spilled over into the property sector with an array of new regulations regarding new builds. However, the whole attraction of the worldwide property market is the fact that you can choose the style, the look and feel of your property, a property that you will be paying substantial money for.
This then begs the question – should all properties be eco-friendly by law?
Freedom of choice
There is no doubt that the freedom of choice enjoyed by property developers and property investors around the world has created this monster of an investment market. People have been free to redevelop houses, to build new properties and to give existing properties a very different look and feel. In many countries it is the “old world style” which attracts the big investment money a style which is not always compatible with eco-friendly laws.
We live in a world which is dominated by the environment with an array of energy-saving rules and regulations brought in by governments around the world. We have everything from energy-saving light bulbs to solar panels, from smart meters to electric vehicle charging points. Yes, some local authorities in the US are now forcing new property developers to include domestic electric car charging points in their plans!
Quote from PropertyForum.com: “While experts have been suggesting the London property market was heading for a house price bubble the media seemed intent on pushing the market higher and higher. However, is the media now turning against the London property market?”
Is there sufficient supply of old world properties?
We touched on the issue of freedom of choice above, and the fact that many people prefer the old world style, living in a more natural environment and away from the hustle and bustle of the latest home technologies. The truth is there are more than sufficient old world properties to suit those who like this particular style and there is certainly demand for new modern day eco-friendly properties – but governments and developers need to find some kind of balance in their thoughts going forward.
Who should foot the bill for eco-friendly efficiencies?
Over the last few years we have seen many governments around the world offering significant “green tax breaks” to those looking to improve the efficiency of their homes and make them more eco-friendly. These tactics were well received by home owners and property developers although at some point there will start to reduce in size and eventually disappear. This begs the question -who should foot the bill for eco-friendly efficiencies in modern day properties?
Is it right to ask developers to include often expensive new technologies in their new build plans? Is it correct that homeowners will ultimately be the ones who are funding “vanity” green efficiency drives by governments around the world? As ever, governments and developers seem to struggle to find a balance between eco-friendly properties and the cost burden which is eventually transferred to the general public.
With changes in worldwide weather patterns, global warming becoming a greater issue and many governments now calling for more eco-friendly properties, it seems that this march towards a more “green environment” is unstoppable. However, is it really fair that the general public eventually pay the price for what many see as “vanity projects” from governments looking to keep fringe green politicians on their side?