DEMAND FOR GREEN DEVELOPMENT IN SINGAPORE

Abstract

Green development has evolved and become a main stream of real estate products in most developed countries. Consumers are getting more knowledgeable of the benefits that a green development could provide to individuals as well as to the community. Corresponding to the demand, green development is picking up pace in developed countries. This paper looks into Singapore progress towards green development and provides an insight on the perceptions of consumers on the environmental impact and their knowledge of a green development. Subsequently, it will look into factors or incentives where consumers are affected while making their decision over the purchase of green development. The hypothesis set for this study intends to show that demand for green development will build up over time which is likely to increase it value. The findings show that most Singaporeans are aware of the current environment condition. As we are moving towards a sustainable environment, green development is adopted and well received by most of Singaporeans. This is due to green development, incorporating green features which are capable of saving energy and utilities bills, better living environment and playing a role in reducing the impact of the environment. These findings have significant implications for the planning and development of future buildings in Singapore. Keywords: Environmental, Green Development, Sustainable, value.