The Price Effect of EEWH Certification

Jen-Hsu Liang

ERES from European Real Estate Society (ERES)

Abstract: Energy depletion and Ecological sustainability are two global-wide issues that most countries seriously concern about, and construction industry takes a big share of energy consumption and ecological damage. Therefore, the promotion of the green building gradually becomes the trend and leads the direction of national policy. The EEWH (Ecology, Energy Saving, Waste Reduction, Health),the Taiwanese green building labeling system, was established in 1999.This article exams the price effect of the green label with hedonic regression model in New Taipei City, and the result shows that the building certificated with EEWH gets 8% premium on average. Price premium varies at different levels of labels, and they are 14.3%, 2.7%, 4.8% and 8% for qualified, bronze, silver and gold levels. Low-priced areas have significantly higher premium of 16.8% comparing to the High-priced areas of 4.5%. In terms of space and location, the buildings in CBD obtain lower green premium than those in outskirts. We believe higher premium is seen in low-price outskirt area due to the extra marketing green labels have for these buildings.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2015-07-01
New Economics Papers: this item is included in nep-ene, nep-env and nep-mkt
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