Document Type

Article

Publication Date

2012

Publication Title

Journal of Real Estate Research

Volume

34

Issue

1

Pages

27-50

Abstract

There has been recent interest in green building and development practices and research. Resulting from growing environmental awareness and concerns, mandatory residential green building programs have been implemented nationally at the municipal level and Texas has passed legislation to create a statewide program. However, the impact of greenness on residential property values has not been rigorously evaluated. This study examines residential transaction prices in two cities and finds a statistically significant premium associated with "green" properties. Additionally, there is evidence of a larger premium associated with green properties located in Frisco, Texas which has the nations first mandatory green building program.

Comments

© American Real Estate Society

Posted with the permission of the publisher.

Original Publication Citation

Aroul, R. R., & Hansz, J. A. (2012). The value of "green:" Evidence from the first mandatory residential green building program. Journal of Real Estate Research, 34(1), 27-50.

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