Sustainable Building Certification and the Rent Premium: A Panel Data Approach

Autor: Nico B. Rottke, Franz Fuerst, Alexander Reichardt, Joachim Zietz
Rok vydání: 2015
Předmět:
Zdroj: Sustainability in Commercial Real Estate Markets ISBN: 9783658117382
DOI: 10.1007/978-3-658-11739-9_2
Popis: The emergence and rapid growth of voluntary certification systems such as Energy Star and LEED in the U.S. are reflective of a paradigm shift towards increased environmental awareness in the commercial real estate industry. The main objective of these certifications is to impart information on a building's degree of energy efficiency and sustainability to both occupiers and investors. Although environmental certification has only recently emerged from a niche market to becoming a mainstream phenomenon, a number of prominent pricing studies of green buildings have been conducted in the past three years. Apart from case studies of individual properties, several cross-sectional and pooled studies, which will be reviewed below, have demonstrated that certified buildings command higher rental rates compared to non-certified buildings.
Databáze: OpenAIRE