Assessing the Value IEQ Creates in the Real Estate Sector – Property Owners and Office Tenants' Perspectives from Finland

Helena Mantere and Juha Franssila

ERES from European Real Estate Society (ERES)

Abstract: Interest in indoor environmental quality (IEQ) has increased within Finland's real estate sector, gaining more attention from both property owners and tenants. IEQ-related technologies can improve the quality of indoor environments, but also enable monitoring of IEQ and even occupancy. These solutions can enhance employee well-being, but also reduce costs for tenants and property owners, and support their sustainability goals. But despite the growing interest and the recognized benefits, adoption of IEQ technologies has been rather slow in the real estate industry. The purpose of the research is to examine whether and how real estate owners and tenants perceive value in IEQ in office environments, in post-pandemic context. The research focuses on identifying and evaluating the key IEQ attributes that create value for the tenants. Additionally, the research aims to assess owners and tenants’ willingness to pay (WTP) for improved IEQ and IEQ technologies. The research utilizes a mixed-method approach, employing both interviews and a questionnaire to achieve a comprehensive understanding. As a result, a framework is created for evaluating the value generated by IEQ. With the framework, for instance office tenants' needs can be assessed and met more effectively.

Keywords: Indoor Environmental Quality; office environment; Value Creation; Willingness to pay (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024-01-01
New Economics Papers: this item is included in nep-dcm, nep-env and nep-ure
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