TitlePolicy framework for sustainable real estate markets
AccessFull text:2019_policy_Framework_for_Sustainable_Real_Estate_Markets - PDF ;
The UNECE Real Estate Market Advisory Group (REM) is a group of real estate experts who advise the Committee on Urban Development, Housing and Land Management on sustainable real estate markets, working to identify specific measures to strengthen a country’s real estate market in a manner that would contribute to economic growth and sustainable development. In 2010, the REM Advisory Group published the “Policy Framework for Sustainable Real Estate Markets”, a tool that would help guide the member States to create sustainable real estate markets. However, the emergence of key international agreements, such as the 2030 Agenda for Sustainable Development, the Geneva UN Charter on Sustainable Housing, the New Urban Agenda, the Paris Agreement, and the Basel III Agreement, have led to the establishment of new global and regional policy frameworks for future activities on sustainable urban development at all levels. In response to the request of the Committee to update the Policy Framework to reflect the emergence of such key agreements, the REM Advisory Group produced the current publication, which now also includes updates on the issues such as urbanization, migration and mobility flows, technology and innovation, the growth of emerging markets and asset competition, the change in housing demand oriented towards green buildings and new designs, energy consumption and climate change, and other relevant phenomena. Moreover, this version of the Policy Framework for Sustainable Real Estate Markets maintains that, contrary to the widespread belief that finance and real estate sectors have negative impact on sustainability, they can actually contribute to the achievement of Sustainable Development Goals with the implementation of effective and compatible principles. In particular, this publication shows that these principles can be incorporated by national, local and municipal governments and applied to various forms of real estate. Principle 1 Promoting the real estate sector and urban economy as one of the main contributors to inclusive and sustainable economic growth -- Principle 2 Creating a supporting regulatory system by integrating regional and international norms and standards into the national legislation -- Principal 3 Enhancing governance to create a healthy, transparent, professional and resilient real estate sector -- Principal 4 Greening the real estate sector to support the quality of life of people and healthy environment -- Principal 5 Integrating real estate markets into smart and sustainable urban development activities -- Principal 6 Enhancing efficiency of land registers and cadastral operations for transparent land and property management -- Principal 7 Enhancing people’s quality of life leveraging on the regeneration and renewal of public and private housing including landscape, historical and cultural heritage -- Principal 8 Ensuring access to sustainable financing for lending and investment rules -- Principal 9 Strengthening capacity of financial institutions to ensure access to financial services for real estate products -- Principal 10 Supporting property valuation based on transparent asset appraisal criteria in line with international standards -- Principal 11 Promoting social housing and affordable housing for social cohesion, inequality reduction and inclusion -- Principal 12 Supporting training and capacity building activities to promote the efficiency of services in the real estate sector.