Incentives needed to spur developers, buyers to go for greener homes: NUS poll

Singapore

BUILDING residential properties that are more environmentally friendly is expected to deliver paltry returns for real estate developers in Singapore, according to the findings of a survey.

This will make it difficult to incentivise the private sector to strive for higher tiers of the Green Mark certification, if the costs are not lowered and property buyers remain reluctant to pay higher prices, said Lee Nai Jia, deputy director at the Institute of Real Estate and Urban Studies (IREUS).