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Department of Real Estate and Construction Management & Centre for Banking and Finance (cefin), Royal Institute of Technology Working Paper Series, Department of Real Estate and Construction Management & Centre for Banking and Finance (cefin), Royal Institute of Technology

No 13/9:
Does greater energy performance have an impact on real estate revenues?

Magnus Bonde () and Han-Suck Song ()

Abstract: This study is one of the first to investigate how energy performance effect commercial real estate gross revenues in Sweden. The property level panel dataset used for this study consists of both economic data and Energy Performance Certificate data. The econometric analysis suggests that buildings with better energy performance have higher gross revenues than buildings with poorer energy performance, even after controlling for a large number of factors such as location, year of construction and operating costs. A policy implication of this study is that energy efficiency investments generate economic gains, as well as being beneficial from an environmental perspective.

Keywords: Real estate revenue; energy performance; real estate policy; (follow links to similar papers)

JEL-Codes: Q01; Q41; Q55; (follow links to similar papers)

18 pages, June 3, 2013

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This paper is published as:
Bonde, Magnus and Han-Suck Song, (2013), 'Does greater energy performance have an impact on real estate revenues?', Journal of Sustainable Real Estate, Vol. 5, pages 174-185



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