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| Green buildings good for health; fetch more rental |
| Press Trust of India / New Delhi Dec 08, 2009, 16:13 IST |
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That green buildings help the environment is common knowledge, but a study claims that it also helps employee productivity and generate 13 per cent more in rentals.
"Tenants in green buildings experience increased productivity and fewer sick days, and that green buildings have lower vacancy and higher rental rates," according to a study by University of San Diego and global realty consultant CB Richard Ellis Group (CBRE).
The report -- Do green buildings make dollars and sense? -- comes in the midst of a global meeting on climate change in Copenhagen and was based on a survey of 154 buildings under CBRE's management totaling more than 51.6 million sq ft and housing 3,000 tenants in 10 markets across the US.
Green buildings use less water, optimise energy efficiency, conserve natural resources, generate less waste and provide healthier spaces for occupants compared to conventional buildings.
The report said respondents reported an average of 2.88 fewer sick days in their current green offices versus their previous non-green office. About 55 per cent respondents also indicated that employee productivity had improved.
Based on the average tenant salary, an office space of 250 sq ft per worker and 250 workdays a year, the report said the decline in sick days and rise in productivity translated into a net impact of about $25 dollar per sq ft occupied.
Green buildings have 3.5 per cent lower vacancy and 13 per cent more rental than the market, it said.
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