What does a global crisis mean to property owners, investors and managers in terms of practical cost however? Climate change will certainly impact property value in the next 30+ years, as the cost of protecting communities against flooding and wildfires will be an expense these neighborhoods and the taxpayer are certain to bear. And while property investors are still investing in high risk areas, locations like Miami Beach could be underwater in a matter of decades, causing untold damage to commercial portfolios around the world.
Real estate companies urgently need to act now to protect their investments. Even if your buildings aren’t at risk of flooding or natural disasters, a deeply uncertain property market and falling occupant demand still pose a serious threat to your commercial portfolio’s value moving forward. If we’re on the verge of a market crash, how many millions of dollars will your portfolio stand to lose?
Talk to a smart building expert to learn more about how Switch helps portfolio managers reach their sustainability goals.