The economic value of end of trip facilities for cyclist commuter in an office building

Qiulin Ke

ERES from European Real Estate Society (ERES)

Abstract: The benefits of cycling as a sustainable transportation mode are widely recognized. In recent years, the concept of commuting by bike has gained considerable attention. Cycling to work brings a multiple benefits for individuals, employers and the environment from improving physical health, wellbeing, productivity and public health to reducing carbon emissions. Governments in many countries have implemented a variety of policy measures, intervention and initiatives to increase the cycling level. Some cities and town encouraged workplaces to provide bike-friendly amenities such as secure bike parking/storage, showers, and changing rooms (called end of trip facilities) to accommodate cyclists and motivate more employees to embrace sustainable transportation options. At the same time, such amenities are identified to influence cycling behavior and deter the people from cycling to work. Given the desirability for these amenities, the number of the office building with bike storage and share room is small; their economic value is unknown. In this paper, we investigate whether presence of cycling to work supportive facilities could add value to office buildings. This study uses office buildings across the England at the end of 2021, we examine with hedonic technique:1. Whether the office buildings with bike storage and/or shower facility could secure rent premium; 2. Whether the existence of rent premium for bike storage and/or shower varies in location and across regions in England and independently from the premium for BREEM certificate.

Keywords: bike storage; cycle to work; rent of office building; shower room (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-ene, nep-env, nep-tre and nep-ure
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