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Energy Performance in Residential Buildings as a Property Market Efficiency Driver

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  • Marek Walacik

    (Institute of Spatial Management and Geography, University of Warmia and Mazury in Olsztyn, 10-720 Olsztyn, Poland)

  • Aneta Chmielewska

    (Institute of Spatial Management and Geography, University of Warmia and Mazury in Olsztyn, 10-720 Olsztyn, Poland)

Abstract

Energy consumption plays an important role in contemporary economies. Its significance extends beyond utilitarian value, impacting economic robustness, environmental protection, and residents’ well-being. The escalating global energy requisites necessitate efficient energy utilization and a shift towards renewable sources to address climate change and strengthen energy independence. Developing accurate predictive models to forecast long-term energy costs and savings remains a complex problem. This paper aims to provide a methodology to identify the influence of building energy performance on real estate market efficiency, focusing on property maintenance costs. Real estate plays a crucial role in human life, serving both as a fundamental need and as a vehicle for achieving personal aspirations and secure financial investments, particularly during times of economic and social instability. Through interdisciplinary methodological architecture, this study addresses three key issues: the impact of rising energy costs on market efficiency, the responsiveness of the real estate market to energy price fluctuations, and the significance of property maintenance costs on market value. The research approach includes creating and applying AI algorithms capable of evaluating extensive datasets pertaining to real estate features. Utilizing machine learning methods, the algorithm determines the importance of energy efficiency measures as well as various other inherent and external attributes of properties. The suggested methodology provides a novel approach to improve the effectiveness of market efficiency analysis.

Suggested Citation

  • Marek Walacik & Aneta Chmielewska, 2024. "Energy Performance in Residential Buildings as a Property Market Efficiency Driver," Energies, MDPI, vol. 17(10), pages 1-18, May.
    • Handle: RePEc:gam:jeners:v:17:y:2024:i:10:p:2310-:d:1392197
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    References listed on IDEAS

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