Re-Sale Value of Sustainable Buildings

While this isn't strictly behaviour change, if there are increased financial reasons for building sustainably, that this could be positive. There is some very interesting work surrounding energy use (could be seen as somewhat of a proxy for sustainable buildings) and property value from the US Institute for Market Transformation (www.imt.org) which has several papers on this topic, including: "Impact of Energy Costs on Commercial Building Value" http://www.imt.org/Papers/Telergy.pdf "REITs and Energy Management" http://www.imt.org/PDF%20files/E&EM-REITpaper.pdf Other relevant papers that I have run across include: "Asset Value Implications of Low Energy Offices" http://www.ukace.org/research/respaper.htm (several papers here) "Valuing low energy offices" http://www.ukace.org/pubs/reportfo/eceee%202005%20-%202,009.pdf "Energy Efficiency Screening Enhances Investor Returns" (this one needs a bit more digging to the presenter's website to try and understand further details for the presentation). http://www.institutionalshareowner.com/presentations/Energy-efficiency-s creening-enhances-investor-returns.ppt Amplifying Real Estate Value through Energy & Water Management: From ESCO to "Energy Services Partner" http://eetd.lbl.gov/EMills/PUBS/PDF/Energy_Services_Partners.pdf

Hopefully this is of use.
Murray Birt

Consultant Climate Change Central
Suite 100, 999-8th Street SW
Calgary, Alberta T2R 1J5
403.517.2711
(phone) 403.517.2727
(fax) www.climatechangecentral.com

Have a look at the first-rate program running in ACT and Victoria. The ACT in particular, has a program in place where all houses sold must have an energy efficiency star rating. the results have shown that there appears to be a stong correllation between price and the number of stars acheived.

Cheers
MOC

I am seeking research/data on the value of sustainable buildings around the following: Where a commercial or residential building has been retrofitted, has this changed the resale value of the building? Where a new commercial or residential building has been built to sustainable guidelines, has this, or is it expected to, increase the value of the building? Considerations would include the running costs of the buildings, and the perceived value to potential purchasers. What I've seen so is related to new buildings and suggests that the future value is not taken into consideration in sale value.

Thanks in anticipation.
Janelle Wallace

OPS Asia Pacific Sydney NSW 2000 Australia
[email protected]

Not sure of the definition of "green building" but a subdivision in Waitakere NZ was built on solid urban design principles. The houses now sell for more than the monotonous subdivision carpet located adjacent to the development. Have a look around www.waitakere.govt.nz for more details.

Cheers
Ben Thompson
Kapiti Coast District 

I hope I didn't get this reference from this list, but this might be of use: Green Value - green buildings good for business http://www.rics.org/Property/Green+value.htm

Cameron Tonkinwise

Cameron Tonkinwise
Director, Design Studies Co-ordinator,
Postgraduate Design Program School of Design
University of Technology, Sydney Room:
Building 6, Level 6, 626
Phone: (61 2) 9514 8928
Fax: (61 2) 9514 8787
www.dab.uts.edu.au
Convenor, Society for Responsibile Design Director, Change Design [email protected]  www.changedesign.org