SG is the most sustainable place for real estate in APAC

Knight Frank said the Lion City is extremely open to adapting ESG measures.

Singapore was crowned the most sustainable city for real estate in Asia-Pacific (APAC) by property consultancy firm, Knight Frank.

Based on the firm's APAC Active Capital Sustainably Led Cities research, Singapore is extremely open to adopting environment, social, and governance (ESG) measures.

Singapore also ranked on top of the list since it has all the top three factors that make a city sustainable, according to Knight Frank.

One of these factors is the amount of green space available.

KJngiht Frank said reen spaces bring a "spectrum of benefits" for cities and their inhabitants like talent retainment.

Citing a survey by Livability.com, Knight Frank said walkability and bike friendliness were among the top criteria for talents to relocate. 

"Hence, providing adequate green spaces to boost the living environment to the optimal is an advantage to cities when it comes to talent retention. regarding factors to consider when making a relocation decision," the firm added.

Another factor which the firm looked into when ranking countries was its green-rated commercial buildings.

"With 40% of carbon emissions emitted, 40% of the world’s energy being used and 30% of the world’s available drinking water being consumed from the built environment, it is only right that the industry devises ways to mitigate the worsening climate and carbon situation," Knight Frank said. 

Lastly, the firm said it also considered "urbanisation pressure" in making the ranking.

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According to Knight Frank, the urbanisation rate in Asia has "never been faster in recent years."

"The rate and scale of urbanisation bring about a range of social and environmental challenges and resource demands. Unforeseen challenges resulting from rapid growth include lack of affordable housing, well-connected and economical public transportations, and other essentials and amenities one would require," the firm said. 

"How well a city is planned and managed is vital since its land use pattern and physical infrastructure will stay status quo for generations to come. Its functionality will determine its ability to accommodate urban sprawl, albeit at times an unsustainable one," it added.