DWS and Global Action Plan survey reveals significant impact air quality plays in property selection

Dec 13, 2022

In Brief

Three quarters of mid-market renters consider air quality an important factor when choosing a home
Ventilation and limiting mould and damp the most important air quality factors for renters. Transport-related amenities such as access to EV-charging points remain less of a priority

For further information please contact:

Nick Bone, DWS
+44 (0) 207 547 2603
nick.bone@dws.com

Montfort Communications
+44 (0)20 3770 7906
DWS@montfort.london

DWS and Global Action Plan survey reveals significant impact air quality plays in property selection

DWS in partnership with Global Action Plan (GAP) today announced the key findings from their latest white paper titled: The Value of Clean Air. With air pollution the single largest environment health risk in Europe^[1], over 5,000 participants were surveyed in what is the first landlord-sponsored research to understand the importance of air quality to European residential tenants. The survey was conducted in April 2022 with mid-market renters in Germany, the Netherlands and the UK.

The findings reveal significant opportunities for property managers and institutional real estate owners to improve air quality for residential tenants through raising awareness and targeted asset management strategies.

Key findings:

Over half of renters said that they would be more likely to renew their tenancy if a property had been managed to minimise air pollution, even if it meant paying more
Renters consider landlords highly responsible for managing air quality within their homes, yet very few have received air pollution information or advice from landlords
Over half of renters are concerned about the impact of air pollution on their health, while having a low level of understanding about the measures available to minimise their exposure to air pollution both indoors and outdoors

Jessica Hardman, Head of European Portfolio Management for Real Estate at DWS said: “It’s clear that the value of clean air is a significant priority for tenants, and taking active steps to positively impact air quality is therefore a responsibility that landlords must address to continue meeting the needs of residential tenants. Institutional investors that priorities air quality can therefore directly contribute to improving the overall health and wellbeing of residential tenants and their families.”

Larissa Lockwood, Director of Clean Air at Global Action Plan said: “Property managers are ideally positioned to play an important role in educating tenants on air quality in and around their properties and providing wellbeing solutions to air quality issues. In the absence of clear legislative directives, we believe the onus is on landlords and real estate owners to proactively collaborate with their tenants and other key stakeholders to create a safe and healthy living environment.”

DWS is actively involved in initiatives to improve air quality across its European real estate portfolio as it focuses on the health and wellbeing of tenants. This includes a recent initiative to install plasma air purification technology in around 750 elevators in portfolio properties in Europe, previously announced here.

^1. World Health Organization (2021)

About DWS - Real Estate

DWS has been investing in real estate assets for more than 50 years. As part of the Alternatives platform, the real estate business has nearly 350 employees in more than 25 cities around the world and EUR 75 billion in global real estate assets under management (September 30, 2022). Providing a diverse range of strategies and solutions across the risk/return and geographic spectrums, we offer core, value-added and opportunistic real estate, real estate debt and real estate securities. The real estate investment business employs a disciplined investment approach and aims to deliver attractive long-term risk adjusted returns, preservation of capital and diversification to its investors, which include governments, corporations, insurance companies, endowments, retirement plans, and private clients worldwide.

About DWS Group

DWS Group (DWS) with EUR 833bn of assets under management (as of 30 September 2022) aspires to be one of the world's leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach.

DWS wants to innovate and shape the future of investing. We understand that, both as a corporate as well as a trusted advisor to our clients, we have a crucial role in helping navigate the transition to a more sustainable future. With approximately 3,900 employees in offices all over the world, we are local while being one global team. We are committed to acting on behalf of our clients and investing with their best interests at heart so that they can reach their financial goals, no matter what the future holds. With our entrepreneurial, collaborative spirit, we work every day to deliver outstanding investment results, in both good and challenging times to build the best foundation for our clients’ financial future.