Environmental consciousness is still rarely present in Hungary’s real estate development projects, despite the fact that several factors, such as environmental pollution, global warming and rising energy prices would make it reasonable, writes Napi.hu.
IVG Development Director Emese Horváth said one reason behind the problem is that in Hungary, it is a task for developers to research technologies, materials and finances available for green construction, whereas in more developed countries, the state performs this task, and developers can choose from a “menu.”
Another reason for the lack of environmentally-conscious real estate development projects in Hungary is that they are not profitable on the short term. One study revealed that the costs of machinery can double or triple if geothermal energy is used, which does not provide a return until 15 to 20 years later.