Market Price Premium for Green Buildings: A Review of Empirical Evidence. Case Study

In international and metropolitan real estate markets, it has been detected the growing relevance of Green Buildings with respect to non-Green Building. In this paper the green premium for buildings has been singled out and then quantified through a market analysis of an urban central area of Reggio Calabria (Italy), i.e. the positive differential in terms of higher price toward sold real estate units having ecological characteristics and energy efficiency. This goal has been pursued comparing the results obtained by different methods: Multiple Regression Analysis (MRA), Appraisal System Approach (ASA) and Market Comparison Approach (MCA).