The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents

Assessment regarding the impact of Energy Performance Certificates (EPC) on the residential market is largely inconclusive; while the majority of hedonic analyses have found EPC ratings to be correlated with prices, opinion-based research has found a negligible impact on prices and other marketing v...

Descripción completa

Detalles Bibliográficos
Autores: Marmolejo Duarte, Carlos, Spairani Berrio, Silvia, Moral Avila, Consuelo del, Delgado Méndez, Luis
Tipo de recurso: artículo
Fecha de publicación:2020
País:España
Institución:Consejo General de la Arquitectura Técnica de España (CGATE)
Repositorio:RIARTE
OAI Identifier:oai:www.riarte.es:20.500.12251/2003
Acceso en línea:http://hdl.handle.net/20.500.12251/2003
https://doi.org/10.3390/buildings10020027
Access Level:acceso abierto
Palabra clave:Certificado de rendimiento energético (EPC)
Comportamiento de usuarios
Sostenibilidad
Venta -edificio-
Mercado Inmobiliario
Eficiencia energética
5311.01 Publicidad
5311.06 Estudio de Mercado
5311.10 Dirección de Ventas
5311.05 Marketing (Comercialización)
5312.03 Construcción
6114.02 Actitudes
6114.06 Comportamiento del Consumidor
id ES_8a931ca6abf0dff414f1ff3101b8cd9c
oai_identifier_str oai:www.riarte.es:20.500.12251/2003
network_acronym_str ES
network_name_str España
repository_id_str
spelling The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate AgentsMarmolejo Duarte, CarlosSpairani Berrio, SilviaMoral Avila, Consuelo delDelgado Méndez, LuisCertificado de rendimiento energético (EPC)Comportamiento de usuariosSostenibilidadVenta -edificio-Mercado InmobiliarioEficiencia energética5311.01 Publicidad5311.06 Estudio de Mercado5311.10 Dirección de Ventas5311.05 Marketing (Comercialización)5312.03 Construcción6114.02 Actitudes6114.06 Comportamiento del ConsumidorAssessment regarding the impact of Energy Performance Certificates (EPC) on the residential market is largely inconclusive; while the majority of hedonic analyses have found EPC ratings to be correlated with prices, opinion-based research has found a negligible impact on prices and other marketing variables. Using the opinion of qualified real estate agents, this paper explores whether, in Spain, EPC labels play any role in housing marketing, as well as the policy changes required to foster efficient dwellings. The results reveal a large misunderstanding of the EPC labels, since they are seen as a global home-quality indicator, while their impact on residential marketing is quite poor. Apparently, both supply and demand place a small interest in energy performance, although it is slightly larger for sellers/buyers in relation to lenders/tenants. In any case, EPC labels are far from blurring the energy information asymmetry, since most of the buyers/tenants are informed of the EPC rating after having selected their home. Overall, the EPC scheme has a poor reputation exacerbated by inaccuracies, unintelligible units to express the financial and environmental implications of energy efficiency, and an apparent weak supervision. These findings stress the need to improve the scheme; in doing so, realtors suggest the need for some companion policies.MDPI AG2020info:eu-repo/semantics/articlehttp://hdl.handle.net/20.500.12251/2003https://doi.org/10.3390/buildings10020027reponame:RIARTEinstname:Consejo General de la Arquitectura Técnica de España (CGATE)Ingléshttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:www.riarte.es:20.500.12251/20032026-06-02T12:44:41Z
dc.title.none.fl_str_mv The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents
title The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents
spellingShingle The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents
Marmolejo Duarte, Carlos
Certificado de rendimiento energético (EPC)
Comportamiento de usuarios
Sostenibilidad
Venta -edificio-
Mercado Inmobiliario
Eficiencia energética
5311.01 Publicidad
5311.06 Estudio de Mercado
5311.10 Dirección de Ventas
5311.05 Marketing (Comercialización)
5312.03 Construcción
6114.02 Actitudes
6114.06 Comportamiento del Consumidor
title_short The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents
title_full The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents
title_fullStr The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents
title_full_unstemmed The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents
title_sort The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents
dc.creator.none.fl_str_mv Marmolejo Duarte, Carlos
Spairani Berrio, Silvia
Moral Avila, Consuelo del
Delgado Méndez, Luis
author Marmolejo Duarte, Carlos
author_facet Marmolejo Duarte, Carlos
Spairani Berrio, Silvia
Moral Avila, Consuelo del
Delgado Méndez, Luis
author_role author
author2 Spairani Berrio, Silvia
Moral Avila, Consuelo del
Delgado Méndez, Luis
author2_role author
author
author
dc.subject.none.fl_str_mv Certificado de rendimiento energético (EPC)
Comportamiento de usuarios
Sostenibilidad
Venta -edificio-
Mercado Inmobiliario
Eficiencia energética
5311.01 Publicidad
5311.06 Estudio de Mercado
5311.10 Dirección de Ventas
5311.05 Marketing (Comercialización)
5312.03 Construcción
6114.02 Actitudes
6114.06 Comportamiento del Consumidor
topic Certificado de rendimiento energético (EPC)
Comportamiento de usuarios
Sostenibilidad
Venta -edificio-
Mercado Inmobiliario
Eficiencia energética
5311.01 Publicidad
5311.06 Estudio de Mercado
5311.10 Dirección de Ventas
5311.05 Marketing (Comercialización)
5312.03 Construcción
6114.02 Actitudes
6114.06 Comportamiento del Consumidor
description Assessment regarding the impact of Energy Performance Certificates (EPC) on the residential market is largely inconclusive; while the majority of hedonic analyses have found EPC ratings to be correlated with prices, opinion-based research has found a negligible impact on prices and other marketing variables. Using the opinion of qualified real estate agents, this paper explores whether, in Spain, EPC labels play any role in housing marketing, as well as the policy changes required to foster efficient dwellings. The results reveal a large misunderstanding of the EPC labels, since they are seen as a global home-quality indicator, while their impact on residential marketing is quite poor. Apparently, both supply and demand place a small interest in energy performance, although it is slightly larger for sellers/buyers in relation to lenders/tenants. In any case, EPC labels are far from blurring the energy information asymmetry, since most of the buyers/tenants are informed of the EPC rating after having selected their home. Overall, the EPC scheme has a poor reputation exacerbated by inaccuracies, unintelligible units to express the financial and environmental implications of energy efficiency, and an apparent weak supervision. These findings stress the need to improve the scheme; in doing so, realtors suggest the need for some companion policies.
publishDate 2020
dc.date.none.fl_str_mv 2020
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv http://hdl.handle.net/20.500.12251/2003
https://doi.org/10.3390/buildings10020027
url http://hdl.handle.net/20.500.12251/2003
https://doi.org/10.3390/buildings10020027
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.rights.none.fl_str_mv http://creativecommons.org/licenses/by-nc-nd/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv MDPI AG
publisher.none.fl_str_mv MDPI AG
dc.source.none.fl_str_mv reponame:RIARTE
instname:Consejo General de la Arquitectura Técnica de España (CGATE)
instname_str Consejo General de la Arquitectura Técnica de España (CGATE)
reponame_str RIARTE
collection RIARTE
repository.name.fl_str_mv
repository.mail.fl_str_mv
_version_ 1869412726839705600
score 15,301629

Similares en LA Referencia