Sustainability of Sustainable Real Property Development

Abstract

The paper investigates commercial buildings users’ perception of the benefits of green buildings and how this perception influences their decision to occupy and/or invest in them. A survey of 400 commercial real estate users in Singapore reveals that they are aware of, and appreciate the benefits of green buildings. However, they are not willing to occupy and/or invest in green buildings as they are concerned with monetary returns. Price, reliability, and effectiveness of green features, as well as apathy towards environmental issues, are impeding the sustainability of sustainable commercial real estate in Singapore. Notwithstanding, since it was found that cost saving and higher property value benefits statistically influence respondents’ willingness to invest in, or occupy green buildings, turning the sustainability advocacy into realistic economic advocacy could ensure sustainability of sustainable real estate development. The