Environmental certification for commercial real estate assets the value impacts [electronic resource]
Language: English Publication details: London RICS 2008ISBN:- 9781842194348
- 333.337 $2 18
Item type | Current library | Call number | Copy number | Status | Date due | Barcode | |
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Book | Virtual Online | ONLINE PUBLICATION (Browse shelf(Opens below)) | 1 | Available | 146401-2001 |
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Investigates the price differentials between Green Building Council's Leadership in Energy and Environmental Design (LEED)/Energy Star certified buildings and traditional buildings in the US. It is argued that there are likely to be three main drivers of price differences between green and traditional buildings: business benefits; higher rents and lower holding costs for investors; likely lower risk premiums. Drawing upon the CoStar database of US commercial real estate assets, an hedonic regression analysis is used to measure the effect of certification on rent and price. Concludes that certification produces a rental premium and that there is a price premium for Energy Star and LEED certified buildings.