Rental price and sustainability ratings: which sustainability criteria are really paying back? Created by Annika Feige,Patrick Mcallister and Holger Wallbaum

By:

Feige, Annika [author]

Contributor(s):

Material type: Text

TextSeries: Construction Management and Economics ; Volume 31, number 4-6Abingdon: Taylor and Francis, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

01446193

Subject(s):

Hedonic model -- Rent -- Sustainability evaluation

LOC classification:

HD9715.A1 CON

Online resources:

Click here to access online

Abstract: Given the centrality of the price mechanism to resource allocation in market economies, the effect of sustainable construction on real estate prices has become an increasingly important empirical issue for market participants and policy makers in the real estate sector. Drawing upon a sample of approximately 2500 residential building units in Switzerland, this study assesses the effects of buildings’ sustainability on their rental prices. In contrast to the vast majority of previous studies that have focused on the price effects of eco-labels, this study investigates the effects of individual sustainability attributes. Overall, we find a positive relationship between the environmental performance of residential buildings and their rental levels. Sustainable building characteristics, especially those which enhance the water efficiency, the health and comfort level and the building’s safety and security, have significant positive price effects. It is argued that the unexpected negative relationship between energy performance and rental prices is attributed to the bundling of energy costs and rents in Swiss lease structures.

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Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HD9715.A1 CON (Browse shelf(Opens below))	Vol. 31, no. 4-6 (pages 322-334)	SP18033	Not for loan	For in house use

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Given the centrality of the price mechanism to resource allocation in market economies, the effect of sustainable construction on real estate prices has become an increasingly important empirical issue for market participants and policy makers in the real estate sector. Drawing upon a sample of approximately 2500 residential building units in Switzerland, this study assesses the effects of buildings’ sustainability on their rental prices. In contrast to the vast majority of previous studies that have focused on the price effects of eco-labels, this study investigates the effects of individual sustainability attributes. Overall, we find a positive relationship between the environmental performance of residential buildings and their rental levels. Sustainable building characteristics, especially those which enhance the water efficiency, the health and comfort level and the building’s safety and security, have significant positive price effects. It is argued that the unexpected negative relationship between energy performance and rental prices is attributed to the bundling of energy costs and rents in Swiss lease structures.

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