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Economic returns to energy-efficient investments in the housing market: Evidence from Singapore

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  • Deng, Yongheng
  • Li, Zhiliang
  • Quigley, John M.

Abstract

Since January of 2005, 250 building projects in the City of Singapore have been awarded the Green Mark for energy efficiency and sustainability. This paper analyzes the private returns to these investments, evaluating the premium in asset values they command in the market. We analyze almost 37,000 transactions in the Singapore housing market to estimate the economic impact of the Green Mark program on Singapore's residential sector.

Suggested Citation

  • Deng, Yongheng & Li, Zhiliang & Quigley, John M., 2012. "Economic returns to energy-efficient investments in the housing market: Evidence from Singapore," Regional Science and Urban Economics, Elsevier, vol. 42(3), pages 506-515.
    • Handle: RePEc:eee:regeco:v:42:y:2012:i:3:p:506-515
    DOI: 10.1016/j.regsciurbeco.2011.04.004
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    References listed on IDEAS

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    1. Piet Eichholtz & Nils Kok & John M. Quigley, 2013. "The Economics of Green Building," The Review of Economics and Statistics, MIT Press, vol. 95(1), pages 50-63, March.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Environmental sustainability; Housing market; Energy efficiency; Green labels;
    All these keywords.

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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