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The Effect of Eco-friendly Characteristics on the Price of Office Buildings

  • Korea Real Estate Review
  • 2018, 28(2), pp.49-64
  • DOI : 10.35136/krer.28.2.4
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate
  • Published : June 30, 2018

So, Soung-Kue 1 Joo Hyun Cho 1

1건국대학교

Accredited

ABSTRACT

The purpose of this study is to analyze the effect of eco-friendly building certification grade on the price and cost of office in Seoul office building. For this purpose, multiple regression analysis is used to examine the prices of buildings. In order to identify the effect of environmental cost reduction of buildings with high eco-friendly certification, we also performed LCC (Life Cycle Cost) + LCA (Life Cycle Assessment) analysis. Results of our analysis show that office buildings with a higher level of eco-friendly certification are priced significantly higher. Through LCC analysis, it was also found that buildings with high levels of eco-friendly certification cost less than those with lower-level certification. Furthermore, it was confirmed that office buildings with higher-level environmental certification have total lower environmental load costs (TCA = LCC+LCA) than buildings without certification. According to the TCA analysis, buildings with a high level eco-certification generated lower social costs than buildings with lower-level or no certification.

Citation status

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