Policy is a major catalyst for retrofits, according to research by JLL and the Economist Impact in a report, which outlines key retrofitting barriers, as well as solutions to accelerate a more sustainable future across the built environment by 2030.
Approximately 63 percent of respondents are aware of local retrofitting policies, and 55 percent believe stricter codes would accelerate activity over the next five years. Cities like Tokyo and Washington, D.C., highlight how performance standards and financial incentives can scale retrofits and cut emissions.
Tenant demand for energy-efficient spaces, investor ESG priorities, and compliance needs are driving retrofits, though barriers persist — chiefly high costs, return-on-investment (ROI) uncertainty (61 percent), integration challenges (54 percent), and limited investor appetite (51 percent). Moderate retrofits are most common.
Singapore and Berlin lead in retrofit momentum (81 percent), followed by New York,
