IDEAS home Printed from https://ideas.repec.org/p/arz/wpaper/eres2009_220.html
   My bibliography  Save this paper

Valuation and Sustainability are Rating Tools Enough?

Author

Listed:
  • Clive M.J. Warren
  • Sven Bienert
  • Georgia Warren-Myers

Abstract

The lack of financial drivers are preventing significant investment in sustainability because stakeholders have no ability to measure the sustainability of the building or understand the impact upon the value. Valuers are unable to indicate or clarify whether sustainability is affecting the market value as there is an absence of detailed market evidence, sales data and lease transactions of sustainable buildings. Leaving both Valuers and other stakeholders uncertain of the value implication as there is no reliable evidence as to whether sustainable buildings are feasible (Lutzkendorf and Lorenz 2005). One of the key barriers is the confusion evident in the industry particularly the measurement of sustainability in commercial property. Although a range of environmental rating tools exist for buildings globally in commercial property, the synergy between these tools and identification of the relationship between the measurement and market value is inherently blurred due to the unique nature of the compilation of points attributed in the rating tools for sustainability in commercial property. This paper examiners the challenges that face the Valuation profession in assessing the impact of sustainability on market value.

Suggested Citation

  • Clive M.J. Warren & Sven Bienert & Georgia Warren-Myers, 2009. "Valuation and Sustainability are Rating Tools Enough?," ERES eres2009_220, European Real Estate Society (ERES).
  • Handle: RePEc:arz:wpaper:eres2009_220
    as

    Download full text from publisher

    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2009-220
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Prescott C. Ensign & Shawn Roy & Tom Brzustowski, 2021. "Decisions by Key Office Building Stakeholders to Build or Retrofit Green in Toronto’s Urban Core," Sustainability, MDPI, vol. 13(12), pages 1-31, June.

    More about this item

    JEL classification:

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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arz:wpaper:eres2009_220. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Architexturez Imprints (email available below). General contact details of provider: https://edirc.repec.org/data/eressea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.