Abstract
Examining willingness to pay for the green residential building has become necessary since modern technology in the built environment drives towards providing green buildings to reduce the adverse effect of the building sector on Mother Earth. Yet, it is worrisome that the building industry in Nigeria is struggling to meet housing needs with conventional buildings. Hence, this paper aimed to investigate the effect satisfaction with traditional housing has on willingness to pay for green buildings to aid green building investment decisions in Makurdi. Three objectives pursued aim. The survey research strategy adopted using questionnaires as a research instrument as suitable for contingent valuation surveys. Three hundred samples were taken from a sample frame of 552 using the stratified sampling technique. Data collected were analysed using weighted mean, binary logistic model, and linear regression. The findings revealed that Makurdi householders are satisfied with conventional housing yet are willing to pay a 3.3% premium price to purchase green buildings; satisfaction with traditional housing negatively affects willingness to pay for green buildings. However, such an effect is not significant. Recommendations are made to create awareness on the importance of building green while investors are advised to invest in green homes.
Highlights
Housing remains a relevant asset to man, not just limited to shelter against harsh weather
The building industry is said to have tapped at about 50% of material resources from nature, 50% of waste production is generated from the building sector, 40% of global energy consumption is building-related, and 50% of greenhouse emission is as a result of building [6]
This paper concludes that Makurdi householders are satisfied with their conventional housing attributes
Summary
Housing remains a relevant asset to man, not just limited to shelter against harsh weather. The author [9] reported that globally the building industry accounts for up to 30% of carbon emissions. The building industry is said to have tapped at about 50% of material resources from nature, 50% of waste production is generated from the building sector, 40% of global energy consumption is building-related, and 50% of greenhouse emission is as a result of building [6]. It is regrettable to know that in all of the harm the building industry has done to Mother Earth, most developing countries such as Nigeria, with a current housing deficit of about 22 million units [1], are yet to meet the basic conventional housing needs of her citizens [13]
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