Energy-Efficient Investments are Hot Property
If you are just considering investing or are already a seasoned property investor, improving the energy efficiency of your buildings can lead to benefits in the long-term according to the property news experts at Zoopla.
Let’s face it, the world is going green, but can you get a better return on your real estate investment by improving energy efficiency?
Make Your Investment Property More Efficient?
As the nation’s housing stock ages with little in the way of new construction, retrofits are the best way to add value to your property. Many areas are experiencing a boom in efficiency retrofits in an attempt to attract discerning tenants.
For example, the Empire State Building in New York City is currently undergoing extensive renovations to improve energy efficiency – when finished it will be one of the most eco-friendly office buildings in the US. This high-profile project is attracting tenants who hope to save money on bills in the long run.
A UK-based property finder reports that British property prices are predicted to rise nearly 4 per cent by October, 2012 (5.5 per cent in London). Now is the best time to put a little time and money into your properties in order to yield the best return after prices go up.
As extreme weather batters the UK, recent droughts and unseasonably cold temperatures show the money-saving benefits of efficiency for tenants – efficient shower and toilet fittings lead to less water use, and good insulation and high-performance timber doors and windows mean that tenants can continue to use central heating into the late spring without worrying about spiralling gas and energy costs.
Likewise with heat waves, meaning tenants can enjoy a more comfortably cooled home or office without breaking the bank.
Zoopla interviewed Mike Shufflebotham, sales manager at Green Building Store, who reports booming sales of water-saving devices and heat recovery ventilation in addition to doors and windows which reduce air leaks. Pike Research consultancy reports that the worldwide market for energy efficiency will increase more than 50 per cent between 2011 and 2017, reaching $103.5 bn.