Greenbuilding sustainability and market premiums in Italy
Abstract
Purpose
Real estate sustainability can be best demonstrated through a “green” certification such as leadership in energy and environmental design, but, in markets where little precedent is available, quantification of costs and premiums related to green buildings is still ridden with uncertainty. The aim of this study is to shed some light on market rent and price premiums as perceived by professional operators in Italy.
Design/methodology/approach
A survey of two cohorts of real estate stakeholders, either members of the Green Building Council Italia or commercial real estate investors, was carried out by means of an online questionnaire.
Findings
Based on 270 responses, it can be inferred that, while the importance of green building is widely acknowledged, caution is still prevalent regarding expected gains. In fact, the majority of respondents perceive the increase in rent and price premiums as being equivalent to additional costs.
Originality/value
This is the first attempt to analyze perceived importance of greenbuilding in Italy.
Keywords
Acknowledgements
The authors wish to thank Cushman and Wakefield, the Green Building Council Italia and Carone & Partners law firm for their support and for providing the contacts to which the survey was sent. All errors remain author's own.
Citation
Morri, G. and Soffietti, F. (2013), "Greenbuilding sustainability and market premiums in Italy", Journal of European Real Estate Research, Vol. 6 No. 3, pp. 303-332. https://doi.org/10.1108/JERER-06-2013-0011
Publisher
:Emerald Group Publishing Limited
Copyright © 2013, Emerald Group Publishing Limited