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Willingness To Pay For Green Buildings In Ghana: What Are The Influencing Factors?

Author

Listed:
  • Yelly Kwesy Lawluvy
  • Olivia Kwakyewaa Ntim
  • Albert Agbeko Ahiadu

Abstract

Although green buildings have been found to be more life-cycle cost-effective than conventional buildings, the capital cost of building green remains greater than that of traditional alternatives, especially in the Ghanaian market. As such, for green buildings to gain proliferation in Ghana, adopters must be willing to bear a cost premium. This study tests Ghana's green building proliferation readiness by investigating Ghanaians' willingness to pay a green building cost premium. An online survey was administered and responded to by 1,227 participants, upon which statistical analysis, including ANOVA and correlation analyses, were conducted. 70.1% of respondents showed a willingness to pay a cost premium for green buildings, with 33.4% of respondents indicating a willingness to pay a premium of up to 5% of the cost of a conventional alternative. Further analyses revealed statistically significant differences in willingness to pay for green buildings across Education levels, Income levels, Environmental Concern levels, and Green Building Awareness levels. However, no significant differences were found between different ages and genders.

Suggested Citation

  • Yelly Kwesy Lawluvy & Olivia Kwakyewaa Ntim & Albert Agbeko Ahiadu, 2022. "Willingness To Pay For Green Buildings In Ghana: What Are The Influencing Factors?," AfRES 2022-052, African Real Estate Society (AfRES).
    • Handle: RePEc:afr:wpaper:2022-052
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    File URL: https://afres.architexturez.net/system/files/afres-2022-fp-16.pdf
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    Cited by:

    1. Yelly Kwesy Lawluvy & Albert Agbeko Ahiadu & Olivia Kwakyewaa Ntim, 2022. "Willingness To Pay For Green Buildings In Ghana: The Impact Of Benefit Sensitisation," AfRES 2022-032, African Real Estate Society (AfRES).

    More about this item

    Keywords

    sustainability; Willingness to pay; Ghana; Green building; Influencing Factors;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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