Energy behaviour in offices and the impact on pricing decisions
||van de Wetering, Jorn; Franz Fuerst
||Energy behaviour in offices and the impact on pricing decisions
||24th Annual European Real Estate Society Conference in Delft, Netherlands
||Since 2008 in the UK the operational energy consumption of premises that are regularly accessed by members of the public has been assessed on an annual basis. Details of these assessments are published as Display Energy Certificates (DECs). A significant number of these premises can be categorized as commercial office space. This represents an opportunity to investigate the relationship between operational energy assessment ratings and value.By supplementing the energy assessment data recorded on DECs with market transaction data, this study investigates the effects of operational energy certification on rental values. DECs are annually assessed and the significance of the relationship between energy consumption and value can therefore be assessed over time. This research also applies hedonic price modelling techniques to control for other factors that affect office rental value in order to determine whether there is a significant relationship between operationally energy efficient buildings in the UK and values, particularly when compared to their relatively energy inefficient counterparts.
||Hedonic Pricing Method; Display Energy Certificate; Commercial Office Space; Rateable value; Environmental Assessment Methods
Post discussion ...
||Sustainable Real Estate
These pages are best viewed with any standards compliant browser (e.g. Mozilla).