Asia Pacific investors target green retrofits
Real estate investors in Asia Pacific are looking for ESG retrofit projects, to develop new green buildings and to create on-site renewable energy, a CBRE survey found.
The broker’s APAC 2024 Investor Intentions Survey found just over 60% of investors, the bulk of which are private equity funds, plan to retrofit existing assets to make them ESG compliant.
More than half the respondents intend to develop or buy green buildings this year and 40% said they plan to enable on-site energy generation.
The survey also found investors to be slightly more willing to pay a ‘green premium’ with only 27% refusing to pay extra for a more sustainable asset, down from 30% in 2023. More than 40% said they were prepared to pay a premium of up to 5%, while a quarter would pay 6-10%.