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'Holistic approach' needed to improve green-building appraisal

Sir, 

Concerning 'Green building' costs grossly overestimated says study, The Royal Institute of Chartered Surveyors (RICS) strongly welcomes the publication of the WBCSD study on green building costs. Unarguably, such buildings have an enormous underestimated potential, both from an economic and environmental as well as from a social point of view. They also offer more comfort to occupants. 

The findings of the recently published RICS Green Value study, which looked at buildings in North America and the UK, clearly showed that while there are signs of an increasing market value of green buildings, industry stakeholders still seem to be failing to get the message across that the main beneficiaries are the building's occupants. 

As green buildings are healthier, they may also prove to be more productive places in which to work. Further research is needed to quantify more precisely the extent of benefits that may even exceed the underlying asset value. A holistic approach is needed from the real estate, financial, valuation and green building sectors to improve the appraisal of green buildings. 

The integrated design process, a team-based approach for achieving green benefits without high cost, should be broadened to help ensure that value is a consideration in building design and that valuations properly reflect the additional attributes of green buildings. 

Ursula Hartenberger 

EU Public Affairs Manager, The Royal Institution of Chartered Surveyors  

Brussels 

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