Mandatory energy efficiency disclosure policies and house prices

Sven Damen and Tijmen van Kempen

Journal of Housing Economics, 2025, vol. 67, issue C

Abstract: Mandatory disclosure policies are increasingly being used by governments around the world to reduce information-driven market failures related to climate risk and energy efficiency. We exploit two policy changes in Flanders (Belgium) to study the causal effect of mandatory energy efficiency disclosure policies on house prices. We find that the introduction of mandatory energy performance certificates with an energy efficiency score in 2008 did not affect the association between energy efficiency and sales prices, indicating that the policy change did not reduce information frictions. However, the introduction of EPC labels in 2019 affected the capitalization of energy efficiency.

Keywords: Energy performance certificates; Information disclosure; Energy efficiency; House prices (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jhouse:v:67:y:2025:i:c:s1051137725000026

DOI: 10.1016/j.jhe.2025.102043

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