Open AccessEconomic impact of environmental efficiency on sales price and used transaction price of apartment buildings empirical analysis using the assessment data of CASBEE Yokohama
Author(s) -
Takada Hideyuki,
Yoshida Yoshikuni,
Kawakubo Shun,
Yamaguchi Ayuta
Publication year - 2021
Publication title -
japan architectural review
Language(s) - English
Resource type - Journals
ISSN - 2475-8876
DOI - 10.1002/2475-8876.12211
Subject(s) - apartment , real estate , unit price , value (mathematics) , database transaction , environmental economics , point (geometry) , unit (ring theory) , business , agricultural economics , economics , finance , microeconomics , engineering , civil engineering , computer science , mathematics , database , statistics , geometry , mathematics education
The aim of this study is to analyze the effects of environmental efficiency of buildings on real estate prices. Therefore, based on the Comprehensive Assessment System for Built Environment Efficiency (CASBEE) of the local government, we investigated 485 apartment buildings assessed by CASBEE Yokohama. The analysis results revealed the following three points: When the Built Environment Efficiency (BEE) value increased by one point, the average unit price increased by 5.5%. A one‐point increase in the BEE value has a positive impact of 1.63% on the annual rate of change of used transaction price. It is economically advantageous to purchase an apartment building with a high BEE value when considering future sales.