Supply, demand and the value of green buildings

Auteur(s) et Affiliation(s)



Description :
This paper documents that, over the 2000–09 period, the expanding supply of green buildings within a given London neighbourhood had a positive impact on average rents and prices, but reduced rents and prices for environmentally certified real estate. The results suggest that there is a gentrification effect from green buildings. However, each additional ‘‘green’’ building decreases the marginal effect of certification in the rental and transaction markets by 2 per cent and 5 per cent respectively. In addition, controlling for lease contract features, like contract length and the rent-free period, modifies the impact of environmental certification on rental prices.


Type de document :
Article de périodique

Source :
Urban studies (Harlow), issn : 0042-0980, 2014, vol. 51, n°. 1, p. 22-43, nombre de pages : 22, Références bibliographiques : 2 p.

Date :
2014

Editeur :
Pays édition : Royaume-Uni, Harlow, Longman Group