Faced with ongoing load-shedding and rising electricity costs, homebuyers are starting to choose properties with energy-saving green features. This is according to recent survey stats of 384 agents of national real estate agency Pam Golding Properties.
Chief executive of the Pam Golding Property group Dr Andrew Golding says it’s no surprise the most popular “green” feature buyers are currently looking for is solar – confirmed by more than a third (35.4%) of all survey votes.
“This was followed by boreholes and JoJo tanks, which is a reminder that water remains a pertinent issue in much of the country,” says Golding. “We have found that properties with these ‘green’ features are viewed first by prospective buyers and sell quicker than those without.”
Almost a quarter of the respondents indicate that more than 50% of their homebuyers are asking for solar and other green features when buying a home. The survey also reveals that 68.8% of buyers would pay a premium for a home with green features, making solutions such as solar an increasingly important driver of the selling price.
“In addition, the survey shows that 55.2% of the agents found homeowners added green features to their properties not only for their own benefit, but also to make their homes more marketable when selling.
“While it is difficult to quantify the actual value-add in monetary terms, having back-up power and water supply solutions certainly make homes more appealing and more sellable,” says Golding.
Although affordability makes it difficult for many consumers to go off the grid, it is clear that it is a sought-after commodity, particularly for first-time homebuyers.
“For high-end buyers, being as far off the grid as possible is a key imperative, while mid-price range buyer are happy if the alternate energy keeps them free of load-shedding for most of their needs,” says Golding.
In line with international green financing trends, some banks in SA now extend preferential terms loans by offering lower interest rates on green-certified home loans.
