Seeking Out Sustainability

Paying a premium for sustainability

Consumer behaviour has changed dramatically over the past few years, and what people are looking for in property has been affected. Research suggests that many buyers now regard sustainability features as essential components in any home they would want to purchase – this is a trend that is particularly strong amongst high end buyers, with 75% choosing their next property with eco-matters in mind*.

In a new "Consumer Mindset in Luxury Buying” study released by Luxury Portfolio International®, a sample of nearly 5000 high end consumers (representing the top 5% percent by income) were polled across 50 countries in Asia Pacific, Middle East, Europe and North America.

According to the results, buyer demands have not changed on the basics of “location, quality and well-run, family places to live” in the luxury market, however a significant shift towards “future-proofing” has emerged.

Of buyers polled, 89% believe it’s important to mitigate climate change and take action toward sustainability, with a large portion of them willing to pay more for a home with eco-friendly features. The study drilled down onto what features were deemed most desirable. Here’s what was found.

Which of these sustainable home design elements, if any, are essential in your next residence? (Luxury Buyers) *Sourced from The State of Luxury Real Estate 2022 global study by Luxury Portfolio International®

Smart Home Automation 73%

Energy Efficient Appliances 70%

Non-Toxic Materials 43%

Organic Living                                   38%

Local Materials                                36%

Solar Panels                                       32%

Perhaps your home already boasts the latest automated systems and energy efficient appliances - however, if not (and particularly if you are thinking of renovating or selling soon), then it is certainly worth looking into a green upgrade.

Earth-friendly technologies have come a long way since the early days of self-sufficiency, and most of them now feature the best, most sophisticated design and state of the art functionality.

Furthermore, showcasing sustainability as part of your home is an investment that will pay off over the short and long term. It will increase your property’s appeal, and enhance its liveability. But it will also make a huge difference to your energy usage, cutting monthly power bills and reducing your environmental footprint. A positive step, you could say, for a brighter future. *Sourced from The State of Luxury Real Estate 2022 global study by Luxury Portfolio International®