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Presentations at an Academic or Professional conference (2012), European Real Estate Society 19th Annual Conference (ERES 2012)

The Impact of Energy Efficiency and Green Perfomance on the Value of Corporate Real Estate Portfolio

The aim of this paper is to investigate whether energy efficiency is capitalized in rent and asset value. We apply hedonic methods on a real estate investor’s portfolio which is composed of industrial, commercial and office buildings. This approach contributes to the research on “green buildings” by developing a patrimonial approach using hedonic regression modeling on a set of existing buildings in the French corporate real estate context. This model emphasizes two main results: energy efficiency is more capitalized in rent than in asset value and this relationship differs regarding buildings’ type. The model suggests that premium for energy efficiency is stronger for commercial and office buildings than for industrial buildings.

NAPPI-CHOULET, I. and DECAMPS, A. (2012). The Impact of Energy Efficiency and Green Perfomance on the Value of Corporate Real Estate Portfolio. In: European Real Estate Society 19th Annual Conference (ERES 2012).