When it comes to sustainable construction the question of quality comes into the discussion since sustainability can be defined as a quality criterion of a building. The real estate market is complex and shaped by different stakeholders (i.e. developers, investors, etc.) with their individual...

An earlier paper presented at an ERES conference (Maier et al., 2010) provided evidence that energy efficient improvements in residential properties were not capitalized into prices suggesting that the Austrian residential markets are not efficient. In this paper, we further shed light on this...

This paper presents results from the EU project “Transnational cooperation for the improvement of buildings energy performance and efficiency“(TRACE) which aims to provide a better understanding of reasoning behind scarce investments in energy efficiency in order to improve relevant...

The hedonic price method is well established as a method for deriving real estate price indices and for identifying the factors that influence real estate prices in the market. Despite a close relationship to the traditional sales comparison approach and conceptual and statistical advantages,...

Despite of the recent dynamics in green building movement in Central and Eastern Europe (CEE), there is little scientific evidence of the actual demand for green office space and market value of green building certificates. Contrary to the US and UK, where there is enough market data for hedonic...

"This paper analyses the behaviour of suppliers and customers in the electronic real estate platform ""immobilien.net"" in Austria. Suppliers (real estate agents) post their offers on this Internet platform. When doing this they decide not only about the published asking price, but also about...

In this paper we investigate the relationship between heating costs and rent in the Austrian rental housing market. More specifically, we test the hypothesis derivable from basic economic considerations that housing units with lower heating costs are more attractive and can therefore generate...

"This paper deals with the question whether the ""Green Building Councils"" that have been founded in many countries of the world serve an economic purpose or are just fashionable at the moment. From a theoretical point of view we will investigate the economic environment of green building...

The Green Building movement has gained considerable strength in Central and Eastern Europe (CEE) in recent years. Green Building Councils have been created in almost all countries and various certification schemes have been introduced. Many developers who are active in the region have joined the...

"The sales comparison approach of real estate appraisal derives the estimated value of a subject property from transaction prices of recently sold similar properties in the local market. In this way only a very limited number of available transaction information is utilized in the appraisal. The...