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The Role of Dual-pane Windows and Improvement Age in Explaining Residential Property Values

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  • Ramya Aroul
  • J. Andrew Hansz

Abstract

There is a modest amount of research on the valuation impact of individual green features such as dual-pane windows. We develop and test a valuation theory for dual-pane windows. The results from a hedonic pricing model indicate a positive and statistically significant direct effect for residential transactions with improvements possessing the dual-pane window feature. However, when a dual-pane window age variable is introduced, the direct effect disappears and is replaced by an interaction effect. The supply of properties with dual-pane windows decreases with property age, which suggests that the valuation impact of the dual-pane window feature increases with property age.

Suggested Citation

  • Ramya Aroul & J. Andrew Hansz, 2011. "The Role of Dual-pane Windows and Improvement Age in Explaining Residential Property Values," Journal of Sustainable Real Estate, Taylor & Francis Journals, vol. 3(1), pages 142-161, January.
    • Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:142-161
    DOI: 10.1080/10835547.2011.12091822
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