Title

Sustainable Building Certification And The Rent Premium: A Panel Data Approach

Abstract

This paper investigates whether obtaining sustainable building certification entails a rental premium for commercial office buildings and tracks its development over time. To this aim, both a difference-in-differences and a fixed-effects model approach are applied to a large panel dataset of office buildings in the United States in the 2000-2010 period. The results indicate a significant rental premium for both ENERGY STAR and LEED certified buildings. Controlling for confounding factors, this premium is shown to have increased steadily from 2006 to 2008, followed by a moderate decline in the subsequent periods. The results also show a significant positive relationship between ENERGY STAR labeling and building occupancy rates.

Publication Date

9-5-2012

Publication Title

Journal of Real Estate Research

Volume

34

Issue

1

Number of Pages

99-126

Document Type

Article

Personal Identifier

scopus

Socpus ID

84865610826 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/84865610826

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