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Greenbuilding sustainability and market premiums in Italy

Greenbuilding sustainability and market premiums in Italy Purpose – Real estate sustainability can be best demonstrated through a “green” certification such as leadership in energy and environmental design, but, in markets where little precedent is available, quantification of costs and premiums related to green buildings is still ridden with uncertainty. The aim of this study is to shed some light on market rent and price premiums as perceived by professional operators in Italy. Design/methodology/approach – A survey of two cohorts of real estate stakeholders, either members of the Green Building Council Italia or commercial real estate investors, was carried out by means of an online questionnaire. Findings – Based on 270 responses, it can be inferred that, while the importance of green building is widely acknowledged, caution is still prevalent regarding expected gains. In fact, the majority of respondents perceive the increase in rent and price premiums as being equivalent to additional costs. Originality/value – This is the first attempt to analyze perceived importance of greenbuilding in Italy. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of European Real Estate Research Emerald Publishing

Greenbuilding sustainability and market premiums in Italy

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Publisher
Emerald Publishing
Copyright
Copyright © 2013 Emerald Group Publishing Limited. All rights reserved.
ISSN
1753-9269
DOI
10.1108/JERER-06-2013-0011
Publisher site
See Article on Publisher Site

Abstract

Purpose – Real estate sustainability can be best demonstrated through a “green” certification such as leadership in energy and environmental design, but, in markets where little precedent is available, quantification of costs and premiums related to green buildings is still ridden with uncertainty. The aim of this study is to shed some light on market rent and price premiums as perceived by professional operators in Italy. Design/methodology/approach – A survey of two cohorts of real estate stakeholders, either members of the Green Building Council Italia or commercial real estate investors, was carried out by means of an online questionnaire. Findings – Based on 270 responses, it can be inferred that, while the importance of green building is widely acknowledged, caution is still prevalent regarding expected gains. In fact, the majority of respondents perceive the increase in rent and price premiums as being equivalent to additional costs. Originality/value – This is the first attempt to analyze perceived importance of greenbuilding in Italy.

Journal

Journal of European Real Estate ResearchEmerald Publishing

Published: Nov 15, 2013

Keywords: Sustainability; Italy; Energy certitification; Greenbuilding; LEED; Market premium

References