The Role of Dual-pane Windows and Improvement Age in Explaining Residential Property Values

Ramya Aroul and J. Andrew Hansz

Journal of Sustainable Real Estate, 2011, vol. 3, issue 1, 142-161

Abstract: There is a modest amount of research on the valuation impact of individual green features such as dual-pane windows. We develop and test a valuation theory for dual-pane windows. The results from a hedonic pricing model indicate a positive and statistically significant direct effect for residential transactions with improvements possessing the dual-pane window feature. However, when a dual-pane window age variable is introduced, the direct effect disappears and is replaced by an interaction effect. The supply of properties with dual-pane windows decreases with property age, which suggests that the valuation impact of the dual-pane window feature increases with property age.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:taf:rsrexx:v:3:y:2011:i:1:p:142-161

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DOI: 10.1080/10835547.2011.12091822

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