Skip to main content
Fachgebiete
Automobil + Motoren Bauwesen + Immobilien Business IT + Informatik Elektrotechnik + Elektronik Energie + Nachhaltigkeit Finance + Banking Management + Führung Marketing + Vertrieb Maschinenbau + Werkstoffe Versicherung + Risiko
DE
EN
Themenseiten
Organisationspsychologie Projektmanagement Marketing Smart Manufacturing
Bücher
Zeitschriften
Weitere Formate
Podcasts Webinare Technik Webinare Wirtschaft Kongresse Veranstaltungskalender Awards
Jetzt Einzelzugang starten
Zugang für Unternehmen
Referenzkunden
MTZ-Fachkongress

Antriebe und Energiesysteme von morgen


Austausch von Automobil- und Energiewirtschaft

Am 14./15. Mai geht es in Chemnitz um die Mobilitätswende durch Elektro- und Wasserstofffahrzeuge.
Erweiterte Suche
Anmelden
nach oben
Erschienen in:
Issues and Prospects of Valuation Science Kapitel lesen Erstes Kapitel lesen

2024 | OriginalPaper | Buchkapitel

Is It Worth Investing in Green Real Estate? Empirical Evidence in the Office Sector of Milan

verfasst von : Alessia Mangialardo, Ezio Micelli

Erschienen in: Science of Valuations

Verlag: Springer Nature Switzerland

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

Pursuing sustainable development of the built environment is now at the center of the international agenda. The challenge to transform real estate investments from innovation to established practices, on the one hand, has to balance the need for adequate revenues and, on the other hand, to ensure affordable costs for users. In particular, investors often consider the costs of green investments to be too high compared to expected returns. The goal of this paper is to verify whether there is a significant differential in performance such as to make the green building interventions more profitable than traditional ones. Through the comparison of two financial models it was possible to argue that green development interventions have significantly higher rates of return compared to traditional development operations.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Jetzt informieren
Vorheriges Kapitel An Application of the Market Comparison Approach for Assessing the Natural Component Incidence on the Housing Prices
Nächstes Kapitel Weighting Procedures and Environmental Sustainability Assessment: An Experiment Based on an Urban Regeneration Programme in Northern Italy
Literatur
1.
2.
Audanaert A, De Boeck L, Roelants K (2010) Economic analysis of the profitability of energy—saving architectural measures for the achievement of the EPBD standard. Energy 35:2965–2971CrossRef
3.
4.
Bryson JR, Lombardi R (2009) Balancing product and process sustainability against business profitability: sustainability as a competitive strategy in the property development process. Bus Strateg Environ 18(2):97–107CrossRef
5.
Cajias M, Geiger P, Bienert S (2012) Green agenda and green performance: empirical evidence for real estate companies. J Eur Real Estate Res 5(2):135–155CrossRef
6.
Chappell TW, Corps C (2010) High performance green building: what’s it worth? Investigating the market value of high performance green buildings. Cascadia Region Green Building Council: Seattle, WA, USA
7.
Chegut A, Eichholtz P, Kok N (2014) Supply, demand and the value of green buildings. Urban Stud 51(1):22–43CrossRef
8.
D’Alpaos C, Bragolusi P (2018) Approcci valutativi alla riqualificazione energetica degli edifici: Stato dell’arte e future sviluppi. Valori e Valutazioni 20:1–15
9.
d’Amato M, Kauko T (2012) Sustainability and risk premium estimation in property valuation and assessment of worth. Build Res Inform 40(2):174–185CrossRef
10.
Eichholz P, Kok N, Quigley J (2009) Why do companies rent green? Real property and corporate social responsibility, RICS Research, London
11.
Eichholz P, Kok N, Quigley J (2010) Doing well by doing good? Green office buildings. Am Econ Rev 100(5):2492–2509CrossRef
12.
Entrop AG, Brouwers HJH, Reinders AHME (2010) Evaluation of energy performance indicators and financial aspects of energy saving techniques in residential real estate. Energy Build 42:618–629CrossRef
13.
14.
Foxon TJ, Köhler J, Michie J, Oughton C (2012) Towards a new complexity economics for sustainability. Camb J Econ 37(1):187–208CrossRef
15.
Fuerst F, McAllister P (2011) Green noise or green value? Measuring the effects of environmental certification on office values. Real Estate Econ 39(1):45–69
16.
Fuerst F, McAllister P (2009) New evidence on the green building rent and price premium. In: Proceedings of the annual meeting of the American real estate society. Monterey, CA, USA, 3 April
17.
Fuerst F, Mcallister P (2008) Pricing sustainability: An empirical investigation of the value impacts of green building certification. In: Proceedings of the American real estate society conference, Captiva Island, FL, USA, 10–14 April
18.
Gabe J, Rehm M (2014) Do tenants pay energy efficiency rent premiums? J Prop Invest Financ 32:333–351CrossRef
19.
Gastaldi F, Camerin F (2020) Dismissione e valorizzazione delle aree militari: il 2020 come anno di cambio di rotta? EyesReg 10(5)
20.
Giuffrida S, Trovato MR, Strigari A, Napoli G (2021) “Houses for one euro” and the territory. Some estimation issues for the “geographic debt” reduction. Smart Innov Syst Technol 178:1043–1052
21.
Hyland M, Lyons RC, Lyons S (2012) The value of domestic building energy efficiency—evidence from Ireland. Energy Econ 40:943–952CrossRef
22.
Kaklauskas A, Zavadskas EK, Dargis R, Bardauskiene D (eds) (2015) Sustainable development of real estate: monograph. Technika, Vilnius
23.
Kauko T (2017) Pricing and sustainability of urban real estate. Routledge, Oxon
24.
Kauko T (2018) Innovation in urban real estate the role of sustainability. J Prop Manag 37(2):197–214
25.
Lorenz D, Trück S, Lützkendorf T (2008) Exploring the relationship between the sustainability of construction and market value: theoretical basics and initial empirical results from the residential property sector. Prop Manag 25(2):119–149
26.
27.
Mangialardo A, Micelli E (2020) Reconstruction or reuse? How real estate values and planning choices impact urban redevelopment. Sustainability (Switzerland) 12(101):4060
28.
29.
Mangialardo A, Micelli E (2018a) Rethinking the construction industry under the circular economy: principles and case studies. In: Bisello A, Vettorato D, Laconte P, Costa S (eds) Smart and sustainable planning for cities and regions. Springer: Cham, Switzerland
30.
Mangialardo A, Micelli E (2018b) Off-site retrofit to regenerate multi-family homes: evidence from some European experiences. In: Calabrò F, Della Spina L, Bevilacqua C (eds) International symposium on new metropolitan perspectives. Springer: Cham, Switzerland
31.
Mehdizadeh R, Fischer M, Celoza A (2013) LEED and energy efficiency: do owners game the system? J Sustain Real Estate 5(1):23–34CrossRef
32.
Morri G (2013) Greenbuilding sustainability and market premium in Italy. J Eur Real-Estate Res 6:303–332CrossRef
33.
Pavesi AS, Verani E (2012) Introduzione Alla Certificazione LEED®: Progetto, Costruzione, Gestione—Ottimizzazione del Processo Edilizio Secondo i Principi Della Sostenibilità; Maggioli Editore: Rimini, Italy
34.
Pivo G, Fisher JD (2009) Investment returns from responsible property investments: energy efficient, transit-orientated and urban regeneration office properties in the US from 1998–2008; Working Paper; Responsible Property Investing Center, Boston College and University of Arizona Benecki Center for Real Estate Studies, Indian University: Boston, MA, USA
35.
36.
37.
Robinson S, McAllister P (2015) Heterogeneous price premiums in sustainable real estate? An investigation of the relation between value and price premiums. Joisre 1:1–20
38.
Thompson B (2015) Innovation in property management. J Property Invest Financ 33(5):436–445CrossRef
39.
Tricarico L (2018) Community energy enterprises in the distributed energy geography. Int J Sustain Energy Planning Manage 18:81–94
40.
41.
McGraw Hill Construction (2009) Green building smart report. McGraw Hill, Bedford
42.
Warren-Myers G, Reed R (2009) Sustainability: measurement and valuation?—Insight from Australia and New Zealand. In: Proceedings of the 15th annual pacific rim real estate society conference, Sydney, Australia, 18–21 Jan
43.
Zieba M, Belniak S, Gluszak M (2013) Demand for sustainable Office space in Poland: the results from a conjoint experiment in Krakow. Prop Manag 31:404–419
Metadaten
Titel
Is It Worth Investing in Green Real Estate? Empirical Evidence in the Office Sector of Milan
verfasst von
Alessia Mangialardo
Ezio Micelli
Copyright-Jahr
2024
Buch
Science of Valuations

Print ISBN: 978-3-031-53708-0

Electronic ISBN: 978-3-031-53709-7

Copyright-Jahr: 2024

DOI
https://doi.org/10.1007/978-3-031-53709-7_21