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Academy of Applied Studies Novi Sad , Novi Sad , Serbia
Academy of Applied Studies – Sirmium , Sremska Mitrovica , Serbia
Academy of Applied Studies – Sirmium , Sremska Mitrovica , Serbia
Academy of Applied Studies – Sirmium , Sremska mitrovica , Serbia
The real estate sector represents one of the most significant economic industries, directly influencing economic growth, employment, infrastructure development, and the quality of life of the population. At the same time, the construction industry and real estate management are among the largest consumers of energy and natural resources, as well as among the major contributors to greenhouse gas emissions. Consequently, sustainable real estate development has gained increasing importance within contemporary economic and environmental policies. The application of sustainability principles involves the design, construction, operation, and management of buildings in a manner that ensures economic viability, environmental protection, and the improvement of social well-being. The subject of this paper is the analysis of the economic benefits and environmental challenges of sustainable real estate development. Particular attention is devoted to the impact of energy efficiency on reducing operating costs, increasing real estate market value, and the contribution of sustainable buildings to achieving environmental objectives within the construction sector. The research is based on an analysis of relevant domestic and international scientific literature, a comparative assessment of the economic and environmental characteristics of sustainable and conventional buildings, as well as a case study illustrating differences in construction costs, operating expenses, and long-term financial effects between the two types of buildings. The research results indicate that sustainable buildings require higher initial investments but generate significantly lower energy and maintenance costs throughout their life cycle, thereby ensuring higher investment profitability and enhancing market competitiveness. The study concludes that sustainable real estate development represents one of the key instruments for achieving economic growth aligned with environmental protection objectives. The long-term benefits exceed the initial costs associated with the implementation of sustainable technologies; therefore, green building represents a strategic direction for the future development of the contemporary real estate market.
sustainable development, real estate, energy efficiency, economic sustainability, ESG, investments.
The implementation of this research and work was supported by the Provincial Secretariat for Higher Education and Scientific Research, Autonomous Province of Vojvodina, Republic of Serbia, by financing the project under the number 002161093 2026 09418 004 000 000 001 04 004, through the Public tender for financing development research projects of higher vocational schools and academies of vocational studies from the territory of the Autonomous Province of Vojvodina in 2026.
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