Eres : Digital Library : Works

Paper eres2013_265:
The Investment Value of Green Buildings in Japan

id eres2013_265
authors Fuerst, Franz; Chihiro Shimizu, Jiro Yoshida
year 2013
title The Investment Value of Green Buildings in Japan
source 20th Annual European Real Estate Society Conference in Vienna, Austria
summary This paper aims to extend the existing evidence on the investment value of green buildings to international markets, specifically the residential real estate market in Japan. Using a unique transaction database of condominiums in the Tokyo metropolitan area and a hedonic analytical framework, we find that green buildings command a small but significant premium on both asking and transaction prices. The magnitude of this premium is found to fluctuate depending on market conditions. This finding is consistent with findings from other countries. As far as we are aware, this is also the first hedonic study of green value that incorporates detailed buyer characteristics.
keywords Eco-labels, Hedonic pricing, Green building investment, Japanese housing market
series ERES:conference
type paper session
discussion No discussions. Post discussion ...
session C-1: Green Buildings & Environmental Policies
last changed 2014/10/21 21:51
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