Asia property market must hasten its adoption of green issues

Real estate markets in Asia are being urged to embrace 'green' technologies and help in the global fight against climate change.

With the region boasting some of the world's fastest growing property markets, green building practices are regarded as a prime area for further growth.

Governments should urgently consider introducing new policies, regulations and incentives, according to Asia's first green real estate guide.

'There is an urgent need for the real estate industry to address the challenges of climate change and sustainability,' says the guide, r.e.Design.

'We would like to see a quick transformation to the adoption of green building practices in new buildings and in terms of improving existing ones. Governments have a key role to play by introducing new policies and regulations,' it adds.

It also makes good financial sense. According to the report a savings of between 40% and 50% is possible in terms of energy costs.

It points out that the real estate industry can offer very cost-effective Greenhouse Gas (GHG) emission cuts compared to other economic sectors, as a result of which it should play a leading role.