IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v13y2021i16p9156-d615099.html
   My bibliography  Save this article

Promoting Green Real Estate Development by Increasing Residents’ Satisfaction

Author

Listed:
  • Li Zhang

    (School of Architecture and Urban Planning, Shenzhen University, Shenzhen 518000, China)

  • Yue Fan

    (School of Architecture and Urban Planning, Shenzhen University, Shenzhen 518000, China)

  • Xiaochun Yang

    (School of Architecture and Urban Planning, Shenzhen University, Shenzhen 518000, China)

  • Jiahao Zhang

    (Department of Architecture, Faculty of Environmental Engineering, The University of Kitakyushu, Kitakyushu 808-0135, Japan)

Abstract

Green real estate is a new form of development that seeks to reduce the negative impact of real estate construction on the environment and society. It offers various forms of environmental and social utility and also bears higher construction costs. Residents’ satisfaction and willingness to pay (WTP) are therefore of great significance for the progress of green real estate. However, residents’ satisfaction with green residential areas and its correlation with WTP has been insufficiently researched. This study draws on face-to-face interviews conducted with 614 households in Qingtangwan (an exemplary green real estate project in Beijing) to extract information about residents’ satisfaction and WTP. With regard to satisfaction, it identifies five main components, specifically the operation and maintenance of residential areas, indoor and outdoor comfort, building quality, sustainable community attachment, and public facility accessibility (this last category had lower satisfaction). In terms of WTP, residents’ mean WTP was found to be CHY 204.23 per month, which is approximately USD 31.19. In addition to the bid value, the indoor and outdoor comfort, building quality, sense of community, and public facility accessibility were all found to be significantly related to residents’ WTP. Relevant policy recommendations for promoting this development mode included the establishment of public funds, the regular collection and disclosure of information about residents’ satisfaction, phased rent increases, and the enhancement of community cultural construction.

Suggested Citation

  • Li Zhang & Yue Fan & Xiaochun Yang & Jiahao Zhang, 2021. "Promoting Green Real Estate Development by Increasing Residents’ Satisfaction," Sustainability, MDPI, vol. 13(16), pages 1-13, August.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:16:p:9156-:d:615099
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/13/16/9156/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/13/16/9156/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Zhao, Dong-Xue & He, Bao-Jie & Johnson, Christine & Mou, Ben, 2015. "Social problems of green buildings: From the humanistic needs to social acceptance," Renewable and Sustainable Energy Reviews, Elsevier, vol. 51(C), pages 1594-1609.
    2. Te-I Albert Tsai, 2014. "Strategies of Building a Stronger Sense of Community for Sustainable Neighborhoods: Comparing Neighborhood Accessibility with Community Empowerment Programs," Sustainability, MDPI, vol. 6(5), pages 1-20, May.
    3. Arina Zanuzdana & Mobarak Khan & Alexander Kraemer, 2013. "Housing Satisfaction Related to Health and Importance of Services in Urban Slums: Evidence from Dhaka, Bangladesh," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 112(1), pages 163-185, May.
    4. Zhang, Xiaoling, 2015. "Green real estate development in China: State of art and prospect agenda—A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 47(C), pages 1-13.
    5. Liao, Xianchun & Shi, Xunpeng (Roc), 2018. "Public appeal, environmental regulation and green investment: Evidence from China," Energy Policy, Elsevier, vol. 119(C), pages 554-562.
    6. McConnell, K. E., 1990. "Models for referendum data: The structure of discrete choice models for contingent valuation," Journal of Environmental Economics and Management, Elsevier, vol. 18(1), pages 19-34, January.
    7. Xiaohuan Xie & Yi Lu & Zhonghua Gou, 2017. "Green Building Pro-Environment Behaviors: Are Green Users Also Green Buyers?," Sustainability, MDPI, vol. 9(10), pages 1-13, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yunxia Liu & Xunpeng Shi & Ya Ping Wang & Tao Sun, 2019. "Promoting Green Residential Buildings in China: Bridging the Gap between Design and Operation to Improve Occupants’ Residential Satisfaction," Sustainability, MDPI, vol. 11(13), pages 1-18, June.
    2. Albert Ping Chuen Chan & Amos Darko & Ernest Effah Ameyaw, 2017. "Strategies for Promoting Green Building Technologies Adoption in the Construction Industry—An International Study," Sustainability, MDPI, vol. 9(6), pages 1-18, June.
    3. 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.
    4. Quangdung Tran & Sajjad Nazir & Tu-Hieu Nguyen & Ngoc-Khoa Ho & Tuan-Hai Dinh & Viet-Phuong Nguyen & Manh-Hung Nguyen & Quoc-Khanh Phan & The-Son Kieu, 2020. "Empirical Examination of Factors Influencing the Adoption of Green Building Technologies: The Perspective of Construction Developers in Developing Economies," Sustainability, MDPI, vol. 12(19), pages 1-28, September.
    5. Shiwen Zhao & Liwen Chen, 2021. "Exploring Residents’ Purchase Intention of Green Housings in China: An Extended Perspective of Perceived Value," IJERPH, MDPI, vol. 18(8), pages 1-19, April.
    6. Ke Guo & Yongbo Yuan, 2021. "Geographic Distribution and Influencing Factor Analysis of Green Residential Buildings in China," Sustainability, MDPI, vol. 13(21), pages 1-14, November.
    7. Lin Zhang & Liwen Chen & Zezhou Wu & Sizhen Zhang & Huanbin Song, 2018. "Investigating Young Consumers’ Purchasing Intention of Green Housing in China," Sustainability, MDPI, vol. 10(4), pages 1-15, April.
    8. Li, Qianwen & Long, Ruyin & Chen, Hong, 2018. "Differences and influencing factors for Chinese urban resident willingness to pay for green housings: Evidence from five first-tier cities in China," Applied Energy, Elsevier, vol. 229(C), pages 299-313.
    9. Xiaolun Wang & Xinlin Yao, 2020. "Fueling Pro-Environmental Behaviors with Gamification Design: Identifying Key Elements in Ant Forest with the Kano Model," Sustainability, MDPI, vol. 12(6), pages 1-17, March.
    10. Olimpia Neagu, 2019. "The Link between Economic Complexity and Carbon Emissions in the European Union Countries: A Model Based on the Environmental Kuznets Curve (EKC) Approach," Sustainability, MDPI, vol. 11(17), pages 1-27, August.
    11. Smith, V. Kerry & Mansfield, Carol, 1998. "Buying Time: Real and Hypothetical Offers," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 209-224, November.
    12. Kwak, So-Yoon & Yoo, Seung-Hoon, 2015. "The public’s value for developing ocean energy technology in the Republic of Korea: A contingent valuation study," Renewable and Sustainable Energy Reviews, Elsevier, vol. 43(C), pages 432-439.
    13. Richard T. Carson & Miko_aj Czajkowski, 2014. "The discrete choice experiment approach to environmental contingent valuation," Chapters, in: Stephane Hess & Andrew Daly (ed.), Handbook of Choice Modelling, chapter 9, pages 202-235, Edward Elgar Publishing.
    14. Ruxu Sheng & Rong Zhou & Ying Zhang & Zidi Wang, 2021. "Green Investment Changes in China: A Shift-Share Analysis," IJERPH, MDPI, vol. 18(12), pages 1-15, June.
    15. Yu Hao & Yingting Wang & Qiuwei Wu & Shiwei Sun & Weilu Wang & Menglin Cui, 2020. "What affects residents' participation in the circular economy for sustainable development? Evidence from China," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(5), pages 1251-1268, September.
    16. Deng, Yuping & Wu, Yanrui & Xu, Helian, 2019. "Political turnover and firm pollution discharges: An empirical study," China Economic Review, Elsevier, vol. 58(C).
    17. Ju-Chin Huang & V. Kerry Smith, 1998. "Monte Carlo Benchmarks for Discrete Response Valuation Methods," Land Economics, University of Wisconsin Press, vol. 74(2), pages 186-202.
    18. Jared C. Carbone & V. Kerry Smith, 2010. "Valuing ecosystem services in general equilibrium," NBER Working Papers 15844, National Bureau of Economic Research, Inc.
    19. Nicolas Jacquemet & Alexander James & Stéphane Luchini & Jason F. Shogren, 2017. "Referenda Under Oath," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(3), pages 479-504, July.
    20. Wei Wang & Shoujian Zhang & Yikun Su & Xinyang Deng, 2019. "An Empirical Analysis of the Factors Affecting the Adoption and Diffusion of GBTS in the Construction Market," Sustainability, MDPI, vol. 11(6), pages 1-24, March.

    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:gam:jsusta:v:13:y:2021:i:16:p:9156-:d:615099. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    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.