The Value of Energy Efficiency and the Role of Expected Heating Costs
||The Value of Energy Efficiency and the Role of Expected Heating Costs
||23rd Annual European Real Estate Society Conference in Regensburg, Germany
||The German Energy Savings Act (Energieeinsparverordnung) requires sellers on the housing market to provide detailed information on expected yearly energy consumption per square meter. This paper uses variation of energy use and heating costs from local fuel prices, climatic conditions, and fuel types to analyze the relationship between expected energy cost savings from energy efficient building structure and house prices in a data set of listingprices from all regions of Germany. Furthermore, the role of building age for the value of energy efficiency is considered. Results suggest that agents are aware of the investment dimension of energy efficiency improvements, but not allimportant aspects are taken into account.
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||Sustainable Real Estate
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