Demand for Green Buildings: Office Tenants' Stated Willingness-to-Pay for Green Features

Spenser Robinson, Robert Simons, Eunkyu Lee and Andrew Kern

Journal of Real Estate Research, 2016, vol. 38, issue 3, 423-452

Abstract: In this study, we analyze the demand for green office building features among office tenants in the United States. An online survey of a random sample of office tenants in 17 major U.S. markets is employed. Respondents provided their perspective on green buildings and their willingness-to-pay (WTP) for green features. They have the highest WTP for improved indoor air quality and access to natural light. The results show that public firms, along with those in the energy and information technology industries are most likely to pay for green-labeled buildings. Regional and demographic preferences are shown in both WTP and attribute ranking. The findings provide implications for policymakers and property developers in terms of which green building features are considered to be most important for green building practices, and how demand for green features potentially differs across regions.

Date: 2016
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DOI: 10.1080/10835547.2016.12091450

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