When you think about the most important factors in real estate, you generally think of location or the quality of the building. Whether you are talking to a real estate agent, seller, or buyer, chances are they will discuss location as a foremost priority. After that, business owners are often concerned with parking, signage visibility, or its proximity to other workplaces. However, there is an important factor that many do not consider until it is much too late: air pollution.
Air Pollution’s Impact on Us
Air pollution is a hidden factor in the sense it is not evident to the human eye. The World Health Organization estimates that 90% of the world breathes polluted air and this polluted air contributes to 4.2 million deaths annually. Polluted air has severe effects on lung health, causing emphysema, asthma, and other respiratory diseases. These particles can agitate allergies or overall congestion. This pollution is ever-present and widespread. It is not limited to specific geographic areas or climates, so all of us are affected. Air pollution can be two to five times worse inside than outside. Sadly, indoor air pollution contributes to nearly 50% of respiratory illness.
What Causes Air Pollution?
There is no one main culprit in the production of air pollution into the environment. Most of our motor vehicles, such as cars and buses, emit substantial amounts of carbon monoxide and nitrogen oxide. Those are classified as mobile sources of pollution. Stationary sources include factories and power plants, which produce significant levels of the same toxic pollutants. These are the primary human-made sources. Unfortunately, there are also unavoidable natural sources, like wildfires and dust. While many think the destruction of structure is the biggest issue with wildfires, it is really particle pollution that poses the most major public health threat.
How does it Impact Property Value?
There are some obvious implications of having real estate holdings in very polluted areas. For example, if you own an office in an area susceptible to wildfires, the possibility exists that the structure will be engulfed. Even if you are fortunate enough to avoid the fire, you will have a difficult time leasing or selling the office due to the obvious risk of air pollutants negatively impacting the environment nearby. However, it is not just the obvious risks of air pollution that can impact commercial and residential spaces.
Even small differences in air pollution levels can have significant effects on your bottom line. Areas that have had to reduce pollutants to meet federal clean air requirements are classified as “nonattainment” areas. Since the 1970’s, the government has tracked real estate data in nonattainment areas. The National Bureau of Economic Research discovered a relationship between decreases in air pollutants and increases in real estate value. Their research showed that real estate values in nonattainment areas increased, on average, 4.8% higher than attainment areas in the 1970’s. Nonattainment areas saw values increase 3.9%, on average, over attainment areas in the 1980’s. The study found that decreasing pollutants and an attention to environmental impact had a positive effect on property values.
What Can You Do?
All this information on air pollution and its prevalence leads to important questions: What if you could ensure proper indoor air quality, and thus safety, for employees and patrons? What if you could qualify for sustainable certifications that made your building more appealing to employers and capital? What if your home had automatic functions to maintain proper indoor air quality?
Fortunately, this is exactly what WYND Technologies offers homeowners, office managers, building owners, or anyone else responsible for protecting the environment for a group of people in a confined space.
As spaces fill back up with the return to in-office work, the health of workers and consumers is more important than ever. Whether you are a hotel, office, restaurant, or school, it is important for your property to ensure safe and healthy air for patrons to breathe. Healthy air quality levels allow people to work safely and without fear for their own health. Sustainable certifications allow you to market as an environmentally-conscious building and are proven to attract better tenants, command higher rents, and have higher tenant retention rates.Decreasing pollutants has positive impacts on property values through decades of government research and analysis. It is in everyone’s best interest to pursue better indoor air quality. Best of all, this is easily attainable with the help of WYND Technologies. WYND has helped many businesses increase their indoor air quality, with multiple products leveraging artificial intelligence to track and monitor the level of pollutants in your building or home. Above identifying air quality problems, WYND Technologies solves air quality problems through filtration and purification. If you want to protect your real estate assets by investing in healthy, clean, and safe air, contact the WYND team today to begin your air quality improvement journey and figure out what solutions are right for you.