with Piet Eichholtz and John Quigley, 2013, Review of Economics and Statistics 95(1) |
Download |
This paper analyzes the economics of “green” building. First, we analyze a panel of office buildings “certified” by independent rating agencies, finding that large recent increases in the supply of green buildings and the unprecedented volatility in property markets have not significantly affected the relative returns to green buildings. Second, we analyze a large cross section of office buildings, demonstrating that economic premiums in rent and asset values are substantial. Third, we relate the economic premiums for green buildings to their sustainability, confirming that the attributes rated for both thermal efficiency and sustainability contribute to premiums in rents and asset values. Even among green buildings, increased energy efficiency is fully capitalized into rents and asset values. The Economics of Green Building
View more presentations from nilskok
|
Interesting work! We're about to publish a story about it on BuildingGreen.com. Any plans to get this paper peer-reviewed or published formally?
Posted by: Nadavbg | 11/04/2010 at 07:05 PM