They’ve been saying it for years – GREEN building pays off – TD Economics shares the proof.
Any jaunt across Toronto tells you that condos are springing up in the city at an unprecedented rate – up to 35,000 new residential units are expected to come onto the market in the city this year alone. And with the huge growth we’re expecting to see in urban populations, there’s every reason to believe this trend will continue.
About one in 15 new condo developments in Toronto is currently achieving LEED certification. A recent TD Economics paper looked at “The Market Benefits of ‘Green’ Condos in Toronto.” Let me share a few highlights with you:
- Leadership in Energy and Environmental Design (LEED) certified, or ‘green,’ buildings, represent an increasing share of new construction, including in the condominium market
- TD Economics has found that LEED certification increases the resale price of Toronto condos by between 5% and 14%
- The impact LEED status has on other market outcomes, such as days on market and maintenance/condo fees, is mixed
See the full paper at the links below: