Abstract
The current regulations on the energy certification of buildings represent for the real estate market and the building sector a real cultural revolution. In recent years, the focus on the energy efficiency of buildings has grown exponentially. It is therefore necessary that the property valuations and methodologies used for this purpose bear in mind the energy quality of buildings. This study aims to determine the contribution of an energy performance feature to the real estate property value. This information can help, on the one hand, to understand the energy savings and the corresponding savings income in the property management and, on the other, to control the air pollution from CO2 emission reduction. The energy performance hedonic price and the CO2 emission price are appraised in the Market Comparison Approach (MCA).
Highlights
The relationship between energy efficiency and building production is to be found in the ever increasing importance that this topic has acquired in all productive sectors of most industrialized countries
If we proceed to quantify the relative contribution of each property characteristic to the final value, we obtain: Table 5 shows that the characteristic Energy Performance Index (EPI) is one of the different characteristics from the surface that more than any other (26%) contributes to the formation of the market value
This study addressed the issue of the energy performance of buildings, contextualizing it in a methodological proposal for appraising the contribution that it provides to the formation of real estate prices
Summary
The relationship between energy efficiency and building production is to be found in the ever increasing importance that this topic has acquired in all productive sectors of most industrialized countries. The industrial and social development, which in the last fifty years has undergone significant acceleration and caused rapid and profound changes that have inevitably produced strong tensions in the global energy system, has highlighted the importance of the concept of sustainable development. The unconstrained growth of global consumption, is not the only energy problem; to make the efficiency issue one of crucial importance in the years ahead, there is the environmental issue. An important part of such climate change could be avoided through a reduction of the final consumption of heat and electricity, which explains once again the centrality of the issue of energy efficiency
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