This paper investigates the price effect of EPC ratings on the residential dwelling prices in Wales. It examines the capitalisation of energy efficiency ratings into house prices using two approaches. The first adopts a cross-sectional framework to investigate the effect of EPC band (and EPC...

This study shows for the first time, that investing comprehensively in sustainability as measured by the GRESB rating) pays off for REITs by enhancing operational performance and lowering risk exposure and volatility. Analyzing a sample of REITs from North America, Asia and Europe for the...

This study uses a unique dataset from Sao Paulo, Brazil, to investigate how corporate and smaller occupiers differ in their willingness to pay for principal office rent determinants. We partition our sample of buildings based on the average size of lease-able units to test whether rent premiums...

This research investigates the key drivers of European non-listed real estate funds performance. In particular, it seeks to understand the extent to which funds' underlying market and sector exposure, gearing, and fund size, contribute to a fund's total return. Using a proprietary database...

This research examines the effects of energy efficiency certification levels on office rental rates and lease structures to determine whether any cost savings and other tangible and intangible benefits of green buildings are captured by landlords via higher rental rates or remain, at least...

Current research on sustainable property investment focuses mainly on property-level profitability of green buildings along with the development and implementation of eco-certifications. A second strand of studies investigates the company-level financial implications of corporate social...

The study investigates uncertainty of financial performance of energy efficient office buildings to establish how making an asset energy efficient changes its financial characteristics. Two hypotheses explaining why a change may occur are presented and examined (one based on higher demand and...

The environmental performance of a building is rapidly gaining importance as a metric in real estate investments. This study investigates the price effects of environmental certification on commercial real estate assets. It is argued that there are likely to be three main drivers of price...

While style analysis has been studied extensively in equity markets, applications of this valuable tool for measuring and benchmarking performance and risk in a real estate context are still relatively new. Previous studies in the real estate market have identified three investment categories...

This study analyzes the regional spatial dynamics of the New York region for a period of roughly twenty years and places the effects of the 9/11 terrorist attacks in the context of longer-term regional dynamics. The analysis reveals that office-using industries are still heavily concentrated in...