RGS Realty


Environmental Impact on Real Estate!

Now that we’ve driven past the “World Environment Day” as just one of those days that need a special mention, we need to really stop by to ponder over the pressing issue. From an environmentalist’s perspective, we are quite literally eating up all the green space that’s dedicated to greenery and building up skyscrapers that may or may not stand as long as the trees that stood there for ages. Yes, we are slowly poisoning our planet with concrete and we plead guilty. That’s one way to look at the environmental issue. Real estate is just one of many reasons that have been impacting the wellness of the environment. This article will talk about the direct relationship between environmental issues and real estate. It’s going to be quite a topsy-turvy ride, so we suggest you fasten your seat belts.

Real estate vs. Environment

As much as the real estate developers preach their affinity towards the environment, they secretly hoped it never existed in the first place. This is a vague statement and a baseless accusation, to be fair. There’s indeed a very strong relationship between the environment and real estate and here’s the reason why – Land Contamination. When corporates build their factories, when real estate builds residential or commercial projects, the land gets filled with potentially hazardous substances that may be harmful to our health or the environment. “Brownfield Land” is the title given to the area that has a long history of hazardous industrial production.

Apart from land contamination, there’s another issue – Mold Contamination. It basically occurs in poorly constructed buildings or the ones which lack adequate ventilation. In certain cases, the molds are toxic in nature which results in medical conditions. Insurance companies pay special attention to such molds which include both, damage to the property as well as the personal injury. Asbestos is something they should watch out for. It tends to be a party-pooper in commercial and industrial buildings predominantly, but it can also invade the residential properties.

Now that we’re diving deep into various issues that our environment faces, let’s take a look at the list of various other elements that can be hazardous to the environment:

Lead Paints: Lead paint chips has the potential to contaminate the soil and are harmful to the plants to grow

Radon: It is a potential contaminant that is colourless, odourless and a radioactive gas which can enter and spread via water and air

The Numbers’ Story

In terms of energy consumption, the real estate industry is the highest consumer with the growing contribution of CO2 emissions. Here are some facts stating the same in various ways:

  • 40% global energy consumption annually
  • Contributes 20% of greenhouse gas emissions
  • Uses 2 billion tonnes of raw material (40% of total of annual global consumption)
  • Use 12% of global freshwater consumption
  • Generates 30% of total waste

The largest cities all over the globe representing 75% of the global GDP are projected to have 260 million new homes and 540 million sq.m of new office spaces. The effective construction output is said to reach USD $15.5 trillion in value. The impact of this monstrous growth in real estate on the environment is going to be severe.

With the ever-growing population, it presents a challenge for real estate developers and planners to create sustainable solutions that can meet the burgeoning requirements.                                                                 

At RGS Realty, we believe that including the environment in our plan from the scratch, is our forte. Our projects are intricately planned and designed in such a way that sustainability in terms of energy, and waste management is taken care of from the beginning. If you wish to know more about who we are and what we do, please visit www.rgsrealty.com