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Sustainable Building Certification and the Rent Premium: A Panel Data Approach

Chapter
Part of the Essays in Real Estate Research book series (ERER)

Abstract

The emergence and rapid growth of voluntary certification systems such as Energy Star and LEED in the U.S. are reflective of a paradigm shift towards increased environmental awareness in the commercial real estate industry. The main objective of these certifications is to impart information on a building's degree of energy efficiency and sustainability to both occupiers and investors. Although environmental certification has only recently emerged from a niche market to becoming a mainstream phenomenon, a number of prominent pricing studies of green buildings have been conducted in the past three years. Apart from case studies of individual properties, several cross-sectional and pooled studies, which will be reviewed below, have demonstrated that certified buildings command higher rental rates compared to non-certified buildings.

Keywords

Corporate Social Responsibility Office Building Occupancy Rate Green Building Vacancy Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Fachmedien Wiesbaden 2016

Authors and Affiliations

  1. 1.EBS Business SchoolWiesbadenGermany

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