Although recently analysts have been focusing primarily on the impact of the pandemic, long-term trends on the property market are also shaped by another factor, namely climate change. The term sustainable development in real estate most often has positive connotations. Certificates granted to “green buildings” increase their prestige and appeal to future users. However, the environmental factor in property valuation also has its dark side. Commentary by Alicja Zajler, director of Valuation and Advisory Services at Colliers.