Barriers and drivers for sustainable property investment in Poland

Compared to huge empirical evidence gathered in US and UK, concerning green buildings performance, little has been done to understand the process of adaptation of green perspective towards property investments in less developed countries. On the other hand, as attitudes towards sustainable property of both end users and investors are linked to their environmental awareness itself, institutional support (as USGBC), as well as country specific legislation, it seems rationale to expect that adaptation rates will vary across the world. Stylized facts provide prove that CEE countries lag behind when sustainable property stock is concerned. However the growth rate is acceptable. In the first part of the paper we identify major barriers that slow down the development of strong sustainable property market in Poland. Later, we use qualitative data (gathered from in-depth interviews) to analyze different drivers and barriers for undertaking some sustainable property related projects. Then we explore the results of conjoint experiment, to assess realistically willingness to pay (WTP) for green building certificate.