News roundup: JLL Thailand outlines 2024 ESG trends both locally and globally, and other updates

For PropertyGuru’s real estate news roundup, JLL Thailand outlined the evolving landscape of ESG trends for 2024 within the property market. In other stories, Vietnam’s real estate market has witnessed positive developments, with a slew of billion-dollar projects being announced and called for investment in the first quarter of 2024. And cautious optimism continues in Australia’s property sector as housing prices steadily climb, but dark clouds linger over Melbourne’s market.

JLL Thailand reveals 2024 ESG trends and commitments for sustainability

JLL Thailand, a leader in real estate services, has outlined the evolving landscape of Environmental, Social, and Governance (ESG) trends for 2024 within the property market, both locally and globally. Committed to ESG principles, JLL Thailand highlights the tangible benefits for property owners and investors from incorporating these practices and shares success stories of properties that have embraced ESG principles.

In a report in ReTalk Asia, JLL projects ESG trends in 2024 that underscore the escalating desire for sustainable office buildings and the crucial role of building performance data in attaining Corporate Net Zero goals. The surge in demand for sustainable offices is fuelled by corporations striving for Net Zero carbon targets, triggering a competitive race for low-carbon buildings and operations. According to JLL’s data, 96 percent of occupiers surveyed across Thailand are targeting 100 percent green-certified portfolios by 2030, up from 17 percent currently. With green building certifications becoming standard requisites, the focus is also shifting toward building performance data to ensure true energy efficiency and carbon reduction. Additionally, the real estate sector is witnessing a growing acknowledgment of the need for enhanced and documented sustainability efforts among tenants.

Vietnam’s real estate market thrives; entities ready to re-enter the market

The real estate market has witnessed positive developments, with a slew of projects, including billion-dollar projects, being announced and called for investment in the first quarter of 2024.

As reported in VietnamPlus, this information was revealed at a conference held on 15th April by the Vietnam Association of Realtors (VARS) to announce a report on Vietnam’s real estate market in the first quarter, and the forecast for the second quarter.

According to Tran Van Binh, Vice Chairman and General Secretary of VARS, the Vietnamese economy has shown signs of vitality in the last quarter and is likely to maintain a positive growth trajectory. The Government, ministries, and sectors have demonstrated high determination in promoting the real estate market, particularly in ensuring the safe and healthy development of the housing segment.

Melbourne weighs on the property sector’s confidence

Cautious optimism continues in the property sector as housing prices steadily climb but dark clouds linger over Melbourne’s market, according to a report in realcommercial.com.au.

The latest Procore/Property Council of Australia Industry Sentiment Survey shows confidence in the property sector rose six basis points over the March quarter on a national level, led by strength stemming from South Australia and NSW.

But the Victorian industry was far less bullish about the future, particularly when it came to state and federal economic growth expectations and forward work schedules, and the state has behaved as an anchor against the national index.

Property Council of Australia’s group executive of national policy and advocacy Matthew Kandelaars said the expectation of falling interest rates was a sign of good news to come. “Certainly, there is cautious optimism in the sector,” he said.

The Property Report editors wrote this article. For more information, email: [email protected].