The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan Barcelona

The Energy Performance of Buildings Directive has it made mandatory to include an energy performance certificate (EPC) on real estate advertisements so as to promote efficient properties. Previous research has found a positive correlation between residential prices and EPC’s energy ranks; nonetheles...

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Detalles Bibliográficos
Autores: Marmolejo Duarte, Carlos Ramiro|||0000-0001-7051-7337, Chen, Ai
Tipo de recurso: artículo
Fecha de publicación:2019
País:España
Institución:Universitat Politècnica de Catalunya (UPC)
Repositorio:UPCommons. Portal del coneixement obert de la UPC
Idioma:inglés
OAI Identifier:oai:upcommons.upc.edu:2117/133016
Acceso en línea:https://hdl.handle.net/2117/133016
https://dx.doi.org/10.7764/RDLC.18.1.156
Access Level:acceso abierto
Palabra clave:Energy conservation
Sustainable architecture
Hedonic price models
Real estate valuation
Energy efficiency
Energy performance certificates
Barcelona
Energia -- Estalvi
Edificis -- Consum d'energia
Arquitectura sostenible
Àrees temàtiques de la UPC::Arquitectura
Àrees temàtiques de la UPC::Energies::Eficiència energètica
Àrees temàtiques de la UPC::Arquitectura::Arquitectura sostenible
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spelling The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan BarcelonaLa evolución del impacto de la eficiencia energética en los precios residenciales: un análisis para la Barcelona MetropolitanaMarmolejo Duarte, Carlos Ramiro|||0000-0001-7051-7337Chen, AiEnergy conservationSustainable architectureHedonic price modelsReal estate valuationEnergy efficiencyEnergy performance certificatesBarcelonaEnergia -- EstalviEdificis -- Consum d'energiaArquitectura sostenibleÀrees temàtiques de la UPC::ArquitecturaÀrees temàtiques de la UPC::Energies::Eficiència energèticaÀrees temàtiques de la UPC::Arquitectura::Arquitectura sostenibleThe Energy Performance of Buildings Directive has it made mandatory to include an energy performance certificate (EPC) on real estate advertisements so as to promote efficient properties. Previous research has found a positive correlation between residential prices and EPC’s energy ranks; nonetheless, the analysis of the evolution of such impact for the same market is still pending. This paper tries to shed light on this issue by analyzing the evolution of prices of the second largest urban agglomeration in Spain. In doing so, a pooled hedonic model is carried out departing from selling listing prices of apartments and a set of locative control variables. Results suggest that in a short period the energy premium for multifamily houses has positively evolved. As a result, a sharped market differentiation arises between inefficient and energy saving dwellings. Such findings have significant implications for the construction and real estate industry, since higher selling prices may compensate for higher building costs coming from energy efficient technologies.Peer ReviewedUniversidad Católica de Chile (UC)20192019-01-0120192019-05-15journal articlehttp://purl.org/coar/resource_type/c_6501VoRhttp://purl.org/coar/version/c_970fb48d4fbd8a85info:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/2117/133016https://dx.doi.org/10.7764/RDLC.18.1.156reponame:UPCommons. Portal del coneixement obert de la UPCinstname:Universitat Politècnica de Catalunya (UPC)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2info:eu-repo/semantics/openAccessoai:upcommons.upc.edu:2117/1330162026-05-27T15:37:01Z
dc.title.none.fl_str_mv The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan Barcelona
La evolución del impacto de la eficiencia energética en los precios residenciales: un análisis para la Barcelona Metropolitana
title The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan Barcelona
spellingShingle The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan Barcelona
Marmolejo Duarte, Carlos Ramiro|||0000-0001-7051-7337
Energy conservation
Sustainable architecture
Hedonic price models
Real estate valuation
Energy efficiency
Energy performance certificates
Barcelona
Energia -- Estalvi
Edificis -- Consum d'energia
Arquitectura sostenible
Àrees temàtiques de la UPC::Arquitectura
Àrees temàtiques de la UPC::Energies::Eficiència energètica
Àrees temàtiques de la UPC::Arquitectura::Arquitectura sostenible
title_short The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan Barcelona
title_full The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan Barcelona
title_fullStr The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan Barcelona
title_full_unstemmed The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan Barcelona
title_sort The evolution of energy efficiency impact on housing prices: an analysis for Metropolitan Barcelona
dc.creator.none.fl_str_mv Marmolejo Duarte, Carlos Ramiro|||0000-0001-7051-7337
Chen, Ai
author Marmolejo Duarte, Carlos Ramiro|||0000-0001-7051-7337
author_facet Marmolejo Duarte, Carlos Ramiro|||0000-0001-7051-7337
Chen, Ai
author_role author
author2 Chen, Ai
author2_role author
dc.subject.none.fl_str_mv Energy conservation
Sustainable architecture
Hedonic price models
Real estate valuation
Energy efficiency
Energy performance certificates
Barcelona
Energia -- Estalvi
Edificis -- Consum d'energia
Arquitectura sostenible
Àrees temàtiques de la UPC::Arquitectura
Àrees temàtiques de la UPC::Energies::Eficiència energètica
Àrees temàtiques de la UPC::Arquitectura::Arquitectura sostenible
topic Energy conservation
Sustainable architecture
Hedonic price models
Real estate valuation
Energy efficiency
Energy performance certificates
Barcelona
Energia -- Estalvi
Edificis -- Consum d'energia
Arquitectura sostenible
Àrees temàtiques de la UPC::Arquitectura
Àrees temàtiques de la UPC::Energies::Eficiència energètica
Àrees temàtiques de la UPC::Arquitectura::Arquitectura sostenible
description The Energy Performance of Buildings Directive has it made mandatory to include an energy performance certificate (EPC) on real estate advertisements so as to promote efficient properties. Previous research has found a positive correlation between residential prices and EPC’s energy ranks; nonetheless, the analysis of the evolution of such impact for the same market is still pending. This paper tries to shed light on this issue by analyzing the evolution of prices of the second largest urban agglomeration in Spain. In doing so, a pooled hedonic model is carried out departing from selling listing prices of apartments and a set of locative control variables. Results suggest that in a short period the energy premium for multifamily houses has positively evolved. As a result, a sharped market differentiation arises between inefficient and energy saving dwellings. Such findings have significant implications for the construction and real estate industry, since higher selling prices may compensate for higher building costs coming from energy efficient technologies.
publishDate 2019
dc.date.none.fl_str_mv 2019
2019-01-01
2019
2019-05-15
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
VoR
http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/2117/133016
https://dx.doi.org/10.7764/RDLC.18.1.156
url https://hdl.handle.net/2117/133016
https://dx.doi.org/10.7764/RDLC.18.1.156
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidad Católica de Chile (UC)
publisher.none.fl_str_mv Universidad Católica de Chile (UC)
dc.source.none.fl_str_mv reponame:UPCommons. Portal del coneixement obert de la UPC
instname:Universitat Politècnica de Catalunya (UPC)
instname_str Universitat Politècnica de Catalunya (UPC)
reponame_str UPCommons. Portal del coneixement obert de la UPC
collection UPCommons. Portal del coneixement obert de la UPC
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,300719

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