Sustainability Preferences In Real Estate In Malta
The construction sector is a major contributor to the Maltese economy, contributing a Gross Value Added (GVA) of €588m in 2021, representing 4.5% of total GVA1 . Nevertheless, globally, building...
CONTRIBUTOR ARTICLE To print this article, all you need is to be registered or login on Mondaq.com. The construction sector is a major contributor to the Maltese economy, contributing a Gross Value Added (GVA) of €588m in 2021, representing 4.5% of total GVA1 . Nevertheless, globally, building operation and construction is responsible for 38% of all energy-related CO2 emissions2 , which is substantial in the context of the global climate crisis that is already underway.
The sector also carries out processes that contribute towards air and noise pollution, generation of waste, and resource depletion. KPMG in Malta conducted a nation-wide survey that sought insight on: general sustainability awareness and preferences amongst Maltese consumers; and the extent to which residents in the Maltese islands prioritise and value sustainability factors when purchasing or renting property. The findings from KPMG in Malta's survey results reflect on current sustainability trends across consumers in Malta, particularly purchasers and renters: KPMG in Malta's survey highlights that consumers in Malta are increasingly aware of sustainability matters in their purchasing decisions, and indicates that a market for sustainable property does exist.
It determines that the public requires more to be done. All stakeholders - including the construction sector, buyers, and renters - play an important role in the transformation of the industry. Together, we can all take necessary steps towards a more sustainable future.
Download the reportOpens in a new window Footnotes 1.News Release, National Statistics Office 2022. Available from: News2022_037.indd (gov.mt). 2.
Building sector emissions hit record high, but low-carbon pandemic recovery can help transform sector, UN Environment Programme 2020. The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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