Sustainable Building Certification and the Rent Premium: A Panel Data Approach

Alexander Reichardt (), Franz Fuerst, Nico B. Rottke () and Joachim Zietz
Additional contact information
Alexander Reichardt: EBS Universität für Wirtschaft und Recht i. Gr
Nico B. Rottke: EBS Universität für Wirtschaft und Recht i. Gr.

Journal of Real Estate Research, 2012, vol. 34, issue 1, 99-126

Abstract: This paper investigates whether obtaining sustainable building certification entails a rental premium for commercial office buildings and tracks its development over time. To this aim, both a difference-in-differences and a fixed-effects model approach are applied to a large panel dataset of U.S. office buildings in the period 2000-2010. The results indicate a significant rental premium for both Energy Star and LEED certified buildings. Controlling for confounding factors, this premium is shown to have increased steadily from 2006-2008, followed by a moderate decline in the subsequent periods. The results also show a significant positive relationship between Energy Star labeling and building occupancy rates.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (38)

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Journal Article: Sustainable Building Certification and the Rent Premium: A Panel Data Approach (2012)
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