Rental price and sustainability ratings: which sustainability criteria are really paying back?

References

• Australian Bureau of Statistics . 2008 . Energy Efficiency Rating and House Prices in the ACT, Report for Department of the Environment, Water, Heritage and Arts , Canberra : National Framework for Energy Efficiency .
   Google Scholar
• Brounen , D. and Kok , N. 2010 . On the economics of energy labels in the housing market . Journal of Environmental Economics and Management , 62 ( 11 ) : 166 – 79 .
   Google Scholar
• Brounen, D., Kok, N. and Menne, J. (2009) Energy performance certification in the housing market: implementation and valuation in the European Union, Maastricht University Working Paper.
   Google Scholar
• Chegut, A., Eichholtz, P. and Kok, N. (2010) A global perspective on the value of green buildings. Paper presented at the 17th Annual European Real Estate Society Conference, 23–26 June, Milan.
   Google Scholar
• Cheng , C. , Pouffary , S. , Svenningsen , N. and Callaway , M. 2008 . The Kyoto Protocol, the Clean Development Mechanism and the Building and Construction Sector, Report for the UNEP Sustainable Buildings and Construction Initiative , Paris : UNEP .
   Google Scholar
• Davis Langdon (2007) The Costs & Benefits of Achieving Green Buildings, Info Data Report, Australia, available at http://bit.ly/ZILfy0 (accessed March 2012).
   Google Scholar
• Eichholtz , P. , Kok , N. and Quigley , J.M. 2009 . Why companies rent green: CSR and the role of real estate , Stockholm : paper presented at the 16th Annual European Real Estate Society Conference, 24–27 June .
   Google Scholar
• Eichholtz , P. , Kok , N. and Quigley , J.M. 2010 . Doing well by doing good? Green office buildings . American Economic Review , 100 : 2492 – 2509 .
   Web of Science ®Google Scholar
• Feige , A. , Wallbaum , H. and Krank , S. 2011 . Harnessing stakeholder motivation: towards a Swiss sustainable building sector . Building Research & Information , 39 : 504 – 517 .
   Web of Science ®Google Scholar
• Fuerst, F. and McAllister, P. (2009) New evidence on green building rent and price premium. Paper presented at the Annual Meeting of the American Real Estate Society, Monterey, 1–4 April.
   Google Scholar
• Fuerst , F. and McAllister , P. 2011a . Eco-labelling in commercial office markets: do LEED and Energy Star offices obtain multiple premiums? . Ecological Economics , 70 : 1220 – 1230 .
   Web of Science ®Google Scholar
• Fuerst , F. and McAllister , P. 2011b . Green noise or green value? Measuring the effects of environmental certification on office values . Real Estate Economics , 39 : 45 – 69 .
   Web of Science ®Google Scholar
• Fuerst , F. , McAllister , P. , van de Wetering , J. and Wyatt , P. 2011 . Measuring the financial performance of green buildings in the UK commercial property market: addressing the data issues . Journal of Financial Management of Property and Construction , 16 : 163 – 185 .
   Google Scholar
• Fuerst, F., van de Wetering, J. and Wyatt, P. (2011b) Measuring the impact of energy certification on office prices in the UK. Paper presented at the 18th Annual ERES Conference, Eindhoven, 15–18 June.
   Google Scholar
• Fuerst, F., Gabrieli, T. and McAllister, P. (2012) A green winner’s curse? Investor behavior in the market for eco-certified office buildings. SSRN Working Paper, available at http://dx.doi.org/10.2139/ssrn.2114528 (accessed April 2012).
   Google Scholar
• Haas, G.C. (1922a) Sales prices as a basis for farm land appraisal. Technical Bulletin 9. University of Minnesota Agricultural Experiment Station, St Paul, Minnesota.
   Google Scholar
• Haas, G.C. (1922b) A statistical analysis of farm sales in Blue Earth County, Minnesota, as a basis for farm land appraisal, Master’s thesis, The University of Minnesota.
   Google Scholar
• Hoffman , A.J. and Henn , R. 2008 . Overcoming the social and psychological barriers to green building . Organization & Environment , 21 : 390 – 419 .
   Web of Science ®Google Scholar
• Hyland, M., Lyons, R. and Lyons, S. (2012) The value of domestic building energy efficiency: evidence from Ireland. Working Paper 614, University of Oxford Department of Economics.
   Google Scholar
• Kok, N. and Jennen, M. (2011) The value of energy labels in the European office market. Working paper, Maastricht, available at http://bit.ly/17I6dSh (accessed April 2012).
   Google Scholar
• Kok, N. and Kahn, M.E. (2012) The value of green labels in the California housing market: an economic analysis of the impact of green labeling on the sales price of a home-UCLA, available at http://bit.ly/11e2SYH (accessed April 2012).
   Google Scholar
• Kok , N. , McGraw , M. and Quigley , J.M. 2011 . The diffusion of energy efficiency in building . American Economic Review , 101 ( 3 ) : 77 – 82 .
   Web of Science ®Google Scholar
• Lancaster , K.J. 1966 . A new approach to consumer theory . Journal of Political Economy , 74 : 132 – 157 .
   Web of Science ®Google Scholar
• Laustsen , J. 2008 . Energy Efficiency Requirements in Building Codes, Energy Efficiency Policies for New Buildings , Paris : IEA .
   Google Scholar
• Levine , M. , Ürge-Vorsatz , D. , Blok , K. , Geng , L. , Harvey , D. , Lang , S. , Levermore , G. , Mongameli Mehlwana , A. , Mirasgedis , S. , Novikova , A. , Rilling , J. and Yoshino , H. 2007 . “ Residential and commercial buildings ” . In Climate Change 2007: Mitigation. Contribution of Working Group III to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change Edited by: Metz , B. , Davidson , O.R. , Bosch , P.R. , Dave , R. and Meyer , L.A. Cambridge and New York
   Google Scholar
• Meins , E. , Wallbaum , H. , Hardziewski , R. and Feige , A. 2010 . Sustainability and property valuation: a risk-based approach . Building Research & Information , 38 : 280 – 300 .
   Web of Science ®Google Scholar
• Miller , N. , Spivey , J. and Florance , A. 2008 . Does green pay off? . Journal of Real Estate Portfolio Management , 14 : 385 – 399 .
   Google Scholar
• Nässén , J. , Sprei , F. and Holmberg , J. 2008 . Stagnating energy efficiency in the Swedish building sector: economic and organisational explanations . Energy Policy , 36 : 3814 – 3822 .
   Web of Science ®Google Scholar
• Pivo , G. and McNamara , P. 2005 . Responsible property investing . International Real Estate Review , 8 : 128 – 143 .
   Google Scholar
• Reed, R.G. (2008) Encouraging the uptake of sustainable buildings and the role of the property valuer, SB 2008: Proceedings of the World Sustainable Building Conference, SB08, 21–25 September, Melbourne, pp. 272–83.
   Google Scholar
• Reichardt, A., Fuerst, F., Rottke, N.B. and Zietz, J. (forthcoming) The business case of sustainable building certification: a panel data approach. Journal of Real Estate Research.
   Google Scholar
• Roodman , D.M. , Lenssen , N.K. and Peterson , J.A. 1995 . A Building Revolution: How Ecology and Health Concerns Are Transforming Construction , Washington , DC : Worldwatch .
   Google Scholar
• Rosen , S. 1974 . Hedonic prices and implicit markets: product differentiation in pure competition . Journal of Political Economy , 82 : 34 – 55 .
   Web of Science ®Google Scholar
• Salvi , M. , Schellenbauer , P. and Schmidt , H. 2004 . Preise, Mieten und Renditen. Der Immobilienmarkt transparent gemacht , Report, Züricher Kantonalbank, Zürich .
   Google Scholar
• Salvi , M. , Horejájová , A. and Müri , R. 2008 . Minergie Macht Sich Bezahlt , Zürich : CCRS und Züricher Kantonalbank .
   Google Scholar
• Sirmans , S.G. , Macpherson , D.A. and Zietz , E.N. 2005 . The composition of hedonic pricing models . Journal of Real Estate Literature , 13 : 3 – 43 .
   Google Scholar
• Steinemann , M. , Meins , E. and Guyer , M. 2008 . Dokumentation zum Konsum Report Schweiz , Zürich : Zürcher Kantonalbank .
   Google Scholar
• UNEP Sustainable Buildings and Climate Initiative . 2006 . Sustainable Building and Construction Initiative. Information Note , Paris : UNEP, Division of Technology, Industry and Economics .
   Google Scholar
• US Green Building Council Research Committee . 2008 . A National Green Building Research Agenda , Washington , DC : U.S. Green Building Council .
   Google Scholar
• Wallace , H.A. 1926 . Comparative farmland values in Iowa . Journal of Land and Public Utility Economics , 2 : 385 – 392 .
   Google Scholar
• Wallbaum , H. and Hardziewski , R. 2011 . Minergie und die anderen: Vergleich von vier Labels . TEC21: Fachzeitschrift für Architektur. Ingenieurwesen und Umwelt , 47 : 32 – 39 .
   Google Scholar
• Wallbaum, H. and Meins, E. (2009) Nicht-nachhaltiges Planen, Bauen und Betrieben: Aus guten Gründen (noch) die Praxis in der Bauwirtschaft? Bauingenieur, 8, 291–304.
   Google Scholar
• Wiley , J. , Benefield , J. and Johnson , K. 2010 . Green design and the market for commercial office space . Journal of Real Estate Finance and Economics , 41 : 228 – 243 .
   Web of Science ®Google Scholar
• Yoshida, J. and Sugiura, A. (2011) Which ‘greenness’ is valued? Evidence from green condominiums in Tokyo. Green Building Finance and Investments: Practice, Policy and Research, Maastricht.
   Google Scholar