Matches in SemOpenAlex for { <https://semopenalex.org/work/W4294946195> ?p ?o ?g. }
- W4294946195 endingPage "109577" @default.
- W4294946195 startingPage "109577" @default.
- W4294946195 abstract "While many studies have explored green buildings, there remain many unsolved questions about how to expand this section of the housing market, such as how the capitalization effect of green buildings varies across time and location. This study investigates the price premiums of green buildings in Taipei City, the largest metropolis in Taiwan, to examine how they have changed over time, and assesses the magnitude of the capitalization effects under varying housing price levels. The empirical results indicate that Taipei residents are willing to pay higher prices for houses with green-label certification. The higher the certification level, the higher the price that residents are willing to pay. This study additionally identifies two characteristics of the capitalization effects in this market. The first is that the price premiums vary with the market condition. For example, during housing market downturns (e.g., 2014–2015), building green premiums may be unremarkable or non-existent. The second effect identified is that green buildings tend to exhibit an ‘aristocratic trend.’ This means that high-priced houses (i.e., houses priced above the 80% quantile) in the high-end label category attract the highest premiums, implying that the willingness to pay for green features tends to only exist among wealthy buyers. The result of this paper provides evidence to explain the heterogeneity of green build premiums. Regarding the specificity of these premiums, this paper provides recommendations for builders and managers. • This study investigates the price premiums of green buildings in Taipei City. • This paper examines how the price premiums have changed over time. • It assesses the magnitude of the capitalization effects under varying housing price levels. • The price premiums vary with the market condition. • Green buildings tend to exhibit an aristocratic trend." @default.
- W4294946195 created "2022-09-08" @default.
- W4294946195 creator A5043978465 @default.
- W4294946195 date "2022-10-01" @default.
- W4294946195 modified "2023-09-24" @default.
- W4294946195 title "Value capitalization effects of green buildings: A new insight through time trends and differences in various price levels" @default.
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