Abstract
The lack of data on sustainable home buying behaviour in developing countries such as Malaysia is due to the absence of sustainable housing itself. However, it is still possible to solicit home buyers for their stated preferences and quantify its effects on housing demand. In this study, a sample of 300 responses to a Discrete Choice Experiment (DCE) on sustainable housing features was analysed using the support.CEs program. This study found that the addition of sustainable features; renewable energy generation, enhanced soundproofing and ventilation, energy saving features, and higher green area ratios significantly increase home buyer's willingness to pay (WTP) for sustainable housing.
Highlights
The lack of data on sustainable home buying behaviour in developing countries such as Malaysia is due to the absence of sustainable housing itself
By adapting Discrete Choice Experiments (DCE), a technique used in non-market valuation [7], to evaluate Malaysian sustainable housing demand it is possible to know the Willingness to Pay (WTP) for the incorporation of sustainable features in homes amongst Malaysian home buyers
The results indicate that for all sustainable features highlighted, Malaysian home buyers are willing to pay a premium to have these features included in their homes
Summary
The lack of data on sustainable home buying behaviour in developing countries such as Malaysia is due to the absence of sustainable housing itself. Under-development in the past has blessed Malaysia with potential sustainability gains in energy efficiency and greenhouse gas emissions [6]. These gains have not realised because it is more effective to build sustain-ability into new projects [1], including sustainable housing, rather than retrofitting existing buildings. By adapting Discrete Choice Experiments (DCE), a technique used in non-market valuation [7], to evaluate Malaysian sustainable housing demand it is possible to know the Willingness to Pay (WTP) for the incorporation of sustainable features in homes amongst Malaysian home buyers
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