Sustainability and the market: Real estate marketing approaches

Abstract

In real estate markets where energy performance certificates are not a firm requirement and energy regulation is weak, as is the case in Santiago de Chile, there is a natural tension between the need for measures to meet emerging sustainability demands and the way in which such measures are adopted by the market. The market introduces attributes that are communicated individually via real estate marketing. This article seeks to describe how the real estate market adopts and communicates these attributes, and whether it is the best option to drive adoption of sustainability in construction. The positioning of these attributes becomes more obvious and well entrenched in higher-priced homes, while these attributes remain as emerging in lower-priced segments. Among these, the attribute of energy certification shows a high potential for creating construction offerings with sustainable value over time, especially with respect to it providing an objective measure for communicating building performance. This situation suggests that these tools should be reviewed from a public policy perspective, since they are not mandatory, they must compete with other attributes. In an equivalent way. It is also necessary to move forward in the definition of required minimum standards, with the aim of establishing a more demanding baseline that encourages competitiveness in the market.