Buyers will pay more for ‘green’ homes

Energy and water self-sufficiency are set to become key factors in the marketability of residential property in SA.
So says Harcourts Real Estate group CEO Richard Gray, who believes homes that offer a degree of independence from local authority services – that is, are at least to some extent “off the grid” - will soon be among the most sought-after properties.
Most in demand, he says, are likely to be new homes in security complexes and estates that have their own emergency power plants and water sources, and which have been built in accordance with the new energy efficiency guidelines, but even ordinary suburban homes that have been retrofitted with ‘green’ equipment will command something of a premium.  
“It’s very clear from recent events,” he notes, that the supply of essential services to SA households is becoming increasingly erratic and uncertain – and not just in informal settlements and rural towns. It’s not uncommon now for whole sections of major cities to be left without electricity or water supply for days on end.
“And while many residents have come to terms with interruptions in the power supply since Eskom started load-shedding in 2007, the rocketing cost of electricity is a big concern for many, as is the poor management of SA’s increasingly inadequate water supply. They fear that widespread water restrictions and deliberate ‘rolling cutoffs’ are not far off.”
Fortunately, however, the options for achieving a good measure of self-sufficiency in both energy and power supply are readily available and practical, Gray says. “Most are also not that expensive in the long run, and the costs are generally readily recouped on resale of the property – and set to become more so.
“Consequently, we expect to see many thousands more SA householders become familiar soon with the benefits of generators, heat pumps, gas stoves and solar geysers and panels, as well as rainwater storage tanks, and wind and solar pumps for boreholes.”
Moreover with the price of food rocketing due to drought and higher transport costs, it will increasingly make sense for homeowners to use at least some of their garden space, and their recycled bathwater or stored rainwater, to establish a flourishing vegetable patch, he says.
“And if all this sounds apocalyptic that’s not the intention. Water shortages are also all too evident in other parts of the world such as Australia and California, and many Asian and South American cities are also faced with very serious power supply problems and rolling blackouts.
“The simple fact is that resources are strained everywhere, and that it makes good sense in environmental terms as well as financial ones to make a property as self-sufficient as possible when it comes to the provision of power and water for comfortable daily living.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    • 17 Apr 2018
      The recent interest rate cut has stoked the coals in the first-time buyer’s market. At least for the next two months until the next interest rate announcement, homeowners are guaranteed lower monthly instalments than in the previous quarter. But, is it wise to take out a 100% bond just to enter the property market while interest rates are low?
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us