Green Noise or Green Value? Measuring the Effects of Environmental Certification on Office Values
研究环境认证对美国商业地产租金和售价的影响，发现认证建筑相比同区域非认证建筑存在租金和售价溢价。
This study investigates the price effects of environmental certification on commercial real estate assets. It is argued that there are likely to be three main drivers of price differences between certified and noncertified buildings. These are additional occupier benefits, lower holding costs for investors and a lower risk premium. Drawing upon the CoStar database of U.S. commercial real estate assets, hedonic regression analysis is used to measure the effect of certification on both rent and price. The results suggest that, compared to buildings in the same submarkets, eco‐certified buildings have both a rental and sale price premium.