Quotation Porumb, Vlad-Andrei, Ciora, Costin, Maier, Gunther, Anghel, Ion. 2016. Green Gold? A (Spatial) Analysis of Green Office Buildings in Europe. European Real Estate Society, 23rd European Conference, Regensburg, Deutschland, 08.06.-11.06.




In this paper we draw upon the DTZ Research Institute database in order to analyze green certification brings a price premium for buildings in the EU. Specifically, we focus on Finland, France and Germany, countries with extensive information regarding green buildings transactions. Given that in the EU green certifications became prevalent after 2010, we restrain our sample to the 2010-2015 period. Considering the increasing demand for certification, we expect that sale prices for green buildings are higher relative to non-green buildings. We first assess if green certification has a premium in the analyzed countries. Second, we assess the effect that the location of green buildings has on the price premium. Our findings suggest that (i) buildings with green certification have a 19 percent higher price relative to non-certificated buildings and (ii) in cities of under 500 000 people, the price premium increases with the distance from the city center. We contribute to the rising literature on green buildings as the only study to assess the price impact of green certification in European countries.


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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Paper presented at an academic conference or symposium
Language English
Title Green Gold? A (Spatial) Analysis of Green Office Buildings in Europe
Event European Real Estate Society, 23rd European Conference
Year 2016
Date 08.06.-11.06.
Country Germany
Location Regensburg


Maier, Gunther (Details)
Anghel, Ion (Bucharest University of Economic Studies, Romania)
Ciora, Costin (Bucharest University of Economic Studies, Romania)
Porumb, Vlad-Andrei (University of Groningen, Netherlands)
Institute for Multi-Level Governance and Development IN (Details)
Research Institute for Spatial and Real Estate Economics FI (Details)
Research areas (Ă–STAT Classification 'Statistik Austria')
1807 Economic geography (Details)
5329 Economics of location (Details)
5330 Site selection (Details)
5332 Transport economics (Details)
5606 Spatial research (Details)
5611 Urban and regional analysis (Details)
5612 Economics of location (Details)
5618 Regional economy (Details)
5702 Population statistics (Details)
5915 Economic geography (Details)
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