Mónica Pimenta authors the article “Building Value: The Green Future of the Real Estate Sector”

Mónica Pimenta, managing associate at Morais Leitão, authors the article “Building Value: The Green Future of the Real Estate Sector”, published in the April edition of Vida Imobiliária. In the article, she argues that sustainability is no longer just a trend but a decisive factor shaping property values, investment decisions and access to financing.

The author highlights that sustainable buildings — certified under systems such as LEED or BREEAM — tend to achieve higher market value, lower operational costs and increasing attractiveness for investors, tenants and financial institutions. This reality is also influencing real estate contracts, which now often include clauses requiring energy efficiency, and is reshaping lending criteria.

Mónica Pimenta further analyses the impact of European legislation, notably Directive (EU) 2018/844, which reinforces the need for more efficient buildings integrating renewable energy sources, smart technologies and electric mobility measures. In Portugal, this directive was transposed through Decree-Law No. 101-D/2020, which sets out clear requirements for the energy performance of new and renovated buildings, including mandatory energy certification.

The article also underscores the role of environmental certifications as tools to mitigate regulatory risk, at a time when the real estate sector accounts for around 40% of energy consumption and 36% of CO₂ emissions in the European Union. The growing adoption of LEED and BREEAM certifications, especially in retail, office and high-end residential segments, reflects this increasing awareness.

Finally, Mónica Pimenta highlights the incentives available in Portugal — such as reductions in property tax (IMI) and subsidies for building rehabilitation — and concludes that assets which already meet environmental and social criteria are better positioned for future value appreciation and are less exposed to the risk of obsolescence, particularly in the face of increasingly stringent regulations.

Read the full article in the attachment below.