How does sustainability appear in the downtown real estate market?

How does sustainability appear in the downtown real estate market?

Beyond Earth Day, the question of sustainability arises every day. This topic is unavoidable in more and more areas, including today in the process of buying real estate, as it is becoming an increasingly important aspect, and more and more investors and buyers are looking for properties that are environmentally friendly and sustainable. Of course, this is not easy in the middle of big cities, including Budapest. What is the situation in this area in the always popular and frequented downtown Budapest? Are real estate buyers paying attention to sustainability?

“Obviously, in the middle of a big city, we interpret the concept of sustainable real estate a little differently” begins Ben-Ezra Orran, a specialist in downtown real estate Central Home expert. “Of course, we can talk less about green energy sources here, we can hardly calculate with solar panels or wind turbines when renovating an inner-city property, so far it is very rare for a solar collector to be placed on the roof of an inner-city apartment building, although this may also be possible in the future. At the same time, the energy crisis that began in 2022 has already drawn attention to the fact that it really doesn’t matter what kind of energy consumption a given property has, so interest in apartments with a higher degree of energy certification has increased.”

One of the important aspects that customers look at almost first is the issue of energy-saving doors and windows. Almost all buyers immediately try and test how the windows open and close, they prefer modern, multi-layered, well-closing windows. It is also important to insulate the walls and the roof structure, as this can also mean a lot in the heating costs. With the latter, due to the risk associated with gas, buyers now mostly prefer electric heating, efficient heating-cooling air conditioners and smart control systems are definitely considered a virtue when viewing a property, as are water-saving systems. Downtown properties often have less water pressure, so it may be important to choose devices that use less water.

“It’s no coincidence that renovation costs for downtown properties also jumped” says the Central Home expert. – “Investors especially don’t, but private home buyers don’t like to make compromises either: high quality is almost a natural expectation when it comes to apartment renovations. I include, for example, the use of materials from environmentally friendly, sustainable sources for a given apartment.”

The location of the apartment can also be a very important aspect in terms of sustainability. Many people are looking for properties that are close to public transportation options, bike paths, and pedestrian areas, where you can easily buy basic food and other consumer goods in the area, and you can reach various services on foot. In this way, you can minimize the use of the car and thereby reduce the harmful impact on the environment.

The modern real estate market is therefore increasingly taking these sustainability aspects into account, and more and more real estate developers and builders are striving to create green, sustainable living and working environments. These sustainability elements are often incorporated in newly built properties, but they are also increasingly common in renovated downtown properties. However, it is important to ask for the help of an expert and thoroughly inspect the properties before buying, and make sure that they meet the sustainability criteria.