Energy Efficiency and Sustainability as the Carriers of Modern Approaches of Value: Do they Work?
||Sahk, Kaarel; Taavi Randoja
||Energy Efficiency and Sustainability as the Carriers of Modern Approaches of Value: Do they Work?
||20th Annual European Real Estate Society Conference in Vienna, Austria
||During the last decade, especially after the finance and real estate markets shocks, the new attributes, those are able to bear the revaluated expectations of market participants, are strongly needed. The birth of these components, describing the contemporary value estimating procedure is beside the traditional aggregates of value, the aggregates that arise from overall term of sustainability. In the English language societies a prevailing to whales of sustainability parameters constructing: the LEED, furnishing the US and linked with him real estate markets and the BREAAM that is serving as sustainability equipment for GB and influenced by him countries. The development of real estate appraisal in small economy like Estonia and all the Baltic states are spotlights the opposite and diametrical constitutions – on the one hand, the general by nature international foundation is needed, on the other hand, the singularity of Baltic markets must be taken into account. In this case the energy efficiency, primarily grounded on the opened energy market actions, has created a situation whereby without accounting it is not available to compose the at least long term development schedules or to finance them trough the property based mortgages, while the energy efficiency is not estimated. The questionary explains how the different market professionals are using the energy efficiency as a tool for contemporary value approach and do this rapprochement to sustainability through energy efficiency is satisfying them. Of course the responses are able to apply for conclusions according all the Baltic market with relevant reckoning specialities characterising their development differences.
||Sustainability, Energy efficiency, Estimates, Questioning, Value factor
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||L-1: Real Estate & Urban Economics
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