Green building is doubling every three years, according to Dodge Data & Analytics' World Green Building Trends 2016 report.
This finding validates research from previous research. The report cites new trends and drivers including a rise in green building in emerging economies and increased pressure from clients and tenants for sustainability.
The survey found that 50% of respondents said higher perceived costs was the top barrier to green building, a decline from 80% in 2008 and 76% in 2012. Developing countries consider lack of public awareness and lack of political support as a key barrier to green building, while the perception of green building in the U.K. is that it's for high-end projects only.
“Seventy percent of survey respondents cite lower operating costs as the greatest benefit – and these results provide a roadmap to continue growing this important segment," according to Bob McDonough, president of UTC Climate, Controls and Security. "It becomes a cycle as building owners seek to create healthy, energy-efficient and productive environments as a selling point to tenants."