Energy Performance in Residential Buildings as a Property Market Efficiency Driver

Marek Walacik () and Aneta Chmielewska
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Marek Walacik: Institute of Spatial Management and Geography, University of Warmia and Mazury in Olsztyn, 10-720 Olsztyn, Poland
Aneta Chmielewska: Institute of Spatial Management and Geography, University of Warmia and Mazury in Olsztyn, 10-720 Olsztyn, Poland

Energies, 2024, vol. 17, issue 10, 1-18

Abstract: Energy consumption plays an important role in contemporary economies. Its significance extends beyond utilitarian value, impacting economic robustness, environmental protection, and residents’ well-being. The escalating global energy requisites necessitate efficient energy utilization and a shift towards renewable sources to address climate change and strengthen energy independence. Developing accurate predictive models to forecast long-term energy costs and savings remains a complex problem. This paper aims to provide a methodology to identify the influence of building energy performance on real estate market efficiency, focusing on property maintenance costs. Real estate plays a crucial role in human life, serving both as a fundamental need and as a vehicle for achieving personal aspirations and secure financial investments, particularly during times of economic and social instability. Through interdisciplinary methodological architecture, this study addresses three key issues: the impact of rising energy costs on market efficiency, the responsiveness of the real estate market to energy price fluctuations, and the significance of property maintenance costs on market value. The research approach includes creating and applying AI algorithms capable of evaluating extensive datasets pertaining to real estate features. Utilizing machine learning methods, the algorithm determines the importance of energy efficiency measures as well as various other inherent and external attributes of properties. The suggested methodology provides a novel approach to improve the effectiveness of market efficiency analysis.

Keywords: energy efficiency; real estate market efficiency; building energy performance; energy cost; property maintenance cost; random forest (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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