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1 – 10 of 26
Article
Publication date: 1 March 1991

J. Marin‐Navarro and P.E. Alevantis

This article describes the system used for the introduction of textual data into the CELEX full‐text document databases. The solution implemented is based on the…

Abstract

This article describes the system used for the introduction of textual data into the CELEX full‐text document databases. The solution implemented is based on the establishment of a text production database for the management and validation of texts before introducing them into the CELEX dissemination databases, and the management of structured documents described with the help of an SGML syntax.

Details

The Electronic Library, vol. 9 no. 3
Type: Research Article
ISSN: 0264-0473

Article
Publication date: 26 September 2008

David Lorenz and Thomas Lützkendorf

The purpose of this paper is to explain the rationale for integrating sustainability issues into property valuation theory and practice and to provide initial suggestions…

13683

Abstract

Purpose

The purpose of this paper is to explain the rationale for integrating sustainability issues into property valuation theory and practice and to provide initial suggestions for valuers on how to account for sustainability issues within valuation reports.

Design/methodology/approach

The authors emphasise the key role of valuation professionals and of the valuation process itself in achieving a broader market penetration of sustainable construction. It is explained that, on the one hand, property valuation represents the major mechanism to align economic return with environmental and social performance of property assets, and thus to express and communicate the advantages and benefits of sustainable buildings. On the other hand, it is explained that gradual changes in market participants' perceptions in favour of sustainable buildings must be reflected within the property valuation and associated risk assessment process (otherwise valuers would produce misleading price estimates). The authors identify both the financial benefits and risk reduction potential of sustainable design as well as valuation input parameters that would allow these benefits to be reflected in property price estimates.

Findings

The authors show that the main reasons for immediately and rigorously integrating sustainability issues into property valuation are as follows: more sustainable patterns of behaviour are urgently necessary to sustain the viability of the Earth's ecosystems; a huge untapped market potential exists for sustainable property investment products and consulting services; sustainable buildings clearly outperform their conventional competitors in all relevant areas (i.e. environmentally, socially and financially); neglecting the benefits of sustainable design leads to distorted price estimates; and reflecting sustainability issues in property price estimates is already possible and the validity of this decision depends solely on the valuer's capability and sophistication to explain and justify his/her assumptions within the valuation report. However, it is also shown that efforts need to be undertaken to improve the description of property assets in transaction databases in order to provide the informational databases necessary to empirically underpin a valuer's decision to assign a “valuation bonus” to a sustainable building or a “valuation reduction” to an unsustainable/conventional one.

Originality/value

The paper postulates that valuation reports should be extended to include the following additional elements: a clear description of the availability of certain sustainability‐related property characteristics and attributes; a statement of the valuer's opinion about the benefits of these characteristics and attributes; and a statement of the valuer's opinion about the impact of these benefits and/or risks on property value.

Details

Journal of Property Investment & Finance, vol. 26 no. 6
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 17 April 2007

David P. Lorenz, Stefan Trück and Thomas Lützkendorf

The basic purpose of this paper is to explore the relationship between the sustainability of construction on the one hand and market value, worth and property investment…

4650

Abstract

Purpose

The basic purpose of this paper is to explore the relationship between the sustainability of construction on the one hand and market value, worth and property investment performance on the other hand. This paper aims to analyse price movements and price differences caused by different property characteristics.

Design/methodology/approach

Based on the estimated log‐linear hedonic regression model, a hedonic price index is calculated. Price movements subject to different property characteristics are examined by constructing various conditional hedonic price indexes.

Findings

The results reveal that, high‐quality flats or flats within preferred locations clearly outperform their competitors in terms of price stability during an overall market downturn. However, it is also shown that contemporary building descriptions or specifications of transactions within property databases are not yet sufficient and need to be widened to meet forthcoming challenges. Therefore, an “integrated building performance approach” is introduced and a proposal for the step‐wise improvement of building descriptions is made.

Practical implications

The paper shows that efforts need to be undertaken by the property profession in combining and transferring financial performance data along with information that is indicative of a building's contribution to sustainable development.

Originality/value

The paper offers insights into the relationship between the sustainability of construction and market value.

Details

Property Management, vol. 25 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 27 September 2011

David Lorenz and Thomas Lützkendorf

The aims of this paper are to: provide a systematic overview of various publications and international research efforts undertaken to integrate sustainability…

6137

Abstract

Purpose

The aims of this paper are to: provide a systematic overview of various publications and international research efforts undertaken to integrate sustainability considerations into the property valuation process; summarize the key results of these publications and research efforts; highlight the role of key valuation‐input variables in considering sustainability issues when applying traditional methods of valuing income‐producing properties; briefly present and comment on a broader concept of property value and the resulting implications for property valuation practice; and provide recommendations for change in the everyday practice of individual valuation professionals and for the future operation of professional organisations and valuation‐standard‐setting bodies.

Design/methodology/approach

This paper builds on the authors' previous contributions to the discussion on sustainability and valuation, presents advances on these previous works and condenses the more theoretical issues debated earlier into concrete recommendations for future action. Starting from a literature review of the different strands of research relating to the new discipline of sustainable property investment, 31 publications and ten research projects that investigate in detail the topic of sustainability and property valuation are identified and the current stage of discussion is briefly commented on. On this basis, a systematisation of existing approaches for the integration of sustainability issues into the valuation process is presented, followed by further explanations of practical valuation issues such as identifying the key “adjustment screws” or valuation input parameters of traditional valuation methods. Finally, the underlying concept of property value is discussed and a “value map” is presented which conceptualises the relationships between different components of value as well as other value‐influencing forces.

Findings

Changes are required in the processes of gathering, processing and presenting property‐related information, as well as in the methods for determining individual valuation‐input parameters and for explicitly stating formerly implicit assumptions and qualitative judgement. This includes but is not limited to the extension of the scope and informational content of standard valuation reports to include sensitivity analyses, risk documentation and a separate section on sustainability. The required changes should be supported by actions that could be undertaken by the professional and valuation‐standard‐setting bodies and organisations within the valuation world. These actions include: embracing and improved marketing of the qualitative nature of the valuation service; the development of educational material and formal guidelines; the provision of dedicated market research to assist valuation practitioners operating in different market segments, geographic regions and local sub‐markets; and adjusting and further developing existing valuation standards to enable and support individual practitioners in offering a two‐tier valuation service to clients.

Originality/value

This paper proposes that valuation professionals and their professional bodies are confronted with a new reality of changing value perceptions and systems among market participants, and offers practical recommendations on how to cope with this situation.

Details

Journal of Property Investment & Finance, vol. 29 no. 6
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 13 September 2011

Andrew Smith and Michael Pitt

This paper aims to examine the role of sustainable buildings in providing healthy workplaces in physical and perceptual terms.

4796

Abstract

Purpose

This paper aims to examine the role of sustainable buildings in providing healthy workplaces in physical and perceptual terms.

Design/methodology/approach

The paper takes the form of a literature review, considering the history of sustainable development in the built environment and its rationale, then widening the scope to consider sustainable, healthy and productive workplaces.

Findings

Sustainable construction has focused on environmental sustainability but this may have contributed to improved health, satisfaction and wellbeing amongst building users. Sick building syndrome and poor indoor air are contributory factors to ill health and reduced productivity but this paper suggests that sustainable building practices will reduce these effects, improving the quality of buildings for their occupants.

Practical implications

This paper argues that building performance measures need to take account of people factors such as employee perceptions and also that the design of workplaces should be regarded as a strategy for productivity enhancement. Management issues should be considered in the design of workplaces. The paper concludes that further research is required into the role of sustainable construction in providing healthy buildings.

Originality/value

The paper makes practical suggestions for corporate real estate and facilities management teams as well as those involved in the design of the buildings. Additionally, it opens suggested avenues for further academic research.

Details

Journal of Corporate Real Estate, vol. 13 no. 3
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 23 November 2012

Yung Yau

The purpose of this paper is to investigate whether consumers in Hong Kong's private housing market are willing to pay more for new apartment units with an eco‐label.

1598

Abstract

Purpose

The purpose of this paper is to investigate whether consumers in Hong Kong's private housing market are willing to pay more for new apartment units with an eco‐label.

Design/methodology/approach

Green or sustainable housing has recently become a new orthodoxy in the field of architecture. Governments commonly use legislation or subsidies to promote green housing. However, eco‐friendly housing provision can become autonomous without any state intervention if the consumers are willing to pay more for housing of better environmental performance. In this light, this study explores Hong Kong resident's willingness‐to‐pay (WTP) for eco‐labelled housing based on the findings of a face‐to‐face questionnaire survey. Besides, the determinants of the WTP are identified using logistic regression modelling.

Findings

Less than half of the 231 respondents were willing to pay more for a new eco‐labelled apartment unit. The number of “willing” respondents dropped significantly with the label grade which signified the level of environmental performance of a property. Moreover, the decision about WTP was contingent mainly on the respondents’ household income and environmental attitude.

Research limitations/implications

The findings of this study can offer valuable insights for the house‐building industry and policy makers into how to promote a more sustainable built environment in Hong Kong.

Originality/value

Nearly all previous research on green building consumerism focussed on commercial buildings and houses. As a preliminary study, this research extends the body of knowledge by exploring the WTP for eco‐labelled apartments.

Details

Smart and Sustainable Built Environment, vol. 1 no. 3
Type: Research Article
ISSN: 2046-6099

Keywords

Article
Publication date: 21 February 2022

Hafizah Mohd Latif, Emmanuel A. Essah and Sohrab Donyavi

The aim of the research presented in this paper is to provide information on the common problems of healthy homes in the context of architectural design deficiencies…

Abstract

Purpose

The aim of the research presented in this paper is to provide information on the common problems of healthy homes in the context of architectural design deficiencies. Especially because determining the status of a healthy house is particularly challenging if the design is poor.

Design/methodology/approach

Qualitative methods, i.e. interviews, site visits and graphic elicitation diagramming were used in two different stages of data collection. They were then analysed using thematic analysis.

Findings

The findings show that the architectural elements can have positive or negative effects on the health and safe environments. The quantity of doors and the use of transparent glass have largely contributed to the thermal transmission and increased indoor temperatures. The roof aluminium sheets and absence of vents inhibited indoor heat loss. This has led to discomfort and overuse of air-conditioning units, particularly during the COVID-19 pandemic where most households stayed/worked from home. The inappropriate height of the ceiling and roof made it challenging for maintenance purpose, reducing safety levels, which could result in physical injuries.

Originality/value

The concept of healthy homes is not new. Studies have been conducted in Western countries and in the field of healthcare. However, there is lack of study in built environment particularly in developing countries and inadequate inter-disciplinary and empirical research to connect the healthcare field. The pervasive and recurring design deficiencies in the construction industry remain a source of unhealthy homes, which must be addressed. Future investigations are necessary to expand the conclusions that can be drawn from this paper for health equity within the society and nation.

Details

International Journal of Building Pathology and Adaptation, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-4708

Keywords

Article
Publication date: 5 February 2018

Christian Ott and Jonas Hahn

Based on a hedonic regression approach, the purpose of this paper is to relativize existing green pay off evidence by incorporating Super Trophy as a so far…

Abstract

Purpose

Based on a hedonic regression approach, the purpose of this paper is to relativize existing green pay off evidence by incorporating Super Trophy as a so far underrepresented determinant. The authors analyze a private panel database of 160 European office properties and confirm a significant green pay off; the positive impact of excellent environmental certification results on market values and net rents is significantly reduced when considering Super Trophy characteristics.

Design/methodology/approach

Based on a panel database of 160 European office properties, the survey applies a hedonic regression approach including an extensive set of control factors as, for example, location criteria, general property characteristics, climate adjustments, consumption data, refurbishment activities, green leases, sustainable certification and energy performance certificate figures.

Findings

Even though our database still confirms a significant green pay off, the positive impact of excellent environmental certification results on market values and net rents is significantly reduced when controlling for Super Trophy characteristics.

Practical implications

Especially, the question how sustainability can be integrated into real estate appraisal is of major interest. The paper at hand may help in two aspects: on the one hand, it provides further insight with regard to the quantitative impact of Super Trophy Buildings on rents and market values. On the other hand, a higher transparency in appraisals may result in structural specifications that help to consolidate appraisals and empirical evidence on a “green pay off.”

Originality/value

The study investigates a niche segment – landmark properties. The empirical analysis explicitly controls for potential Super Trophy status. It draws attention to the importance of a reasonable and complete set of control variables to increase statistical validity of future studies in that field.

Details

Journal of Property Investment & Finance, vol. 36 no. 1
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 23 October 2018

Dave Collins, Antje Junghans and Tore Haugen

This paper aims to investigate the drivers and barriers for green leases and tenancies in sustainable “Building Research Establishment Environmental Assessment Method”…

1179

Abstract

Purpose

This paper aims to investigate the drivers and barriers for green leases and tenancies in sustainable “Building Research Establishment Environmental Assessment Method” (BREEAM) and “Leadership in Energy and Environmental Design” (LEED) certified office and office buildings in Norway, the UK and the USA. This study focuses on the differing perspectives between owners and tenants. It is then considered as to how these issues are dealt with during different phases of a buildings life cycle. This research is based on existing literature and semi-structured interviews that studied qualitative and quantitative elements in the context of ownership and tenancy of single and multi-tenanted sustainable office buildings.

Design/methodology/approach

Using a mixed-method approach involving semi-structured interviews with both qualitative and quantitative elements along with desk research, this paper evaluates how green leases and tenancies in offices and office buildings that are BREEAM and LEED certified require a reconsideration and re-evaluation of the acquisition, operation and disposal of office buildings by building owners and their tenants. These stakeholder relationships are supported theoretically using a theoretical model that outlines the interrelation between the sustainable building and the relationships of the building owner, the user and the FM service provider.

Findings

The data gathered from the interviews justify and partly contradict some of the statements within existing literature, diminishing the importance of cost and the barrier of split incentive but instead illuminate the importance of less tangible considerations such as company policy or a sustainability strategy. The results also note the realisation of a changing market for commercial real estate driven by the sustainable business needs of tenants for the occupation of workspaces.

Research limitations/implications

These findings have the potential to further develop theories and provide an insight into how the relationships between actors from a business, procurement and contractual perspective need to be developed to ensure more proactive development of green leasing of new and existing sustainable office buildings, along with where strategic attention is required during the building design, construction, operational and use phases.

Originality/value

This paper is based on original research through interviews and literature studies supported by an existing theoretical model. The results have been partly presented and initially discussed at the WBC World Congress 2016 in Tampere, Finland.

Article
Publication date: 2 May 2019

Timothy Oluwatosin Olawumi and Daniel W.M. Chan

The increasing urbanization of the built environment has bolstered the need to promote green Building Information Modeling (BIM) initiative in new construction projects…

1122

Abstract

Purpose

The increasing urbanization of the built environment has bolstered the need to promote green Building Information Modeling (BIM) initiative in new construction projects and the rehabilitation of old premises. This study aims to explore and examine the key benefits of the implementation of BIM and sustainability practices in the built environment.

Design/methodology/approach

The study gathered the worldwide perceptions of 220 survey participants from 21 countries which were analyzed using descriptive and inferential analytical methods. The identified individual benefits of green BIM were further categorized into their underlying clusters using factor analysis.

Findings

The key benefits are related to enhancing project efficiency and productivity, ensuring real-time sustainable design and multi-design alternatives, facilitating the selection of sustainable materials and components, together with reducing material wastage and project’s environmental impact, among others. The study analyzed and compared the perceptions of the diverse groups of the respondents as well.

Practical implications

Effective blueprints and insightful recommendations for enhancing the various stakeholders’ capacities to implement green BIM in their construction projects were put forward to achieve the aim of sustainable smart urbanization.

Originality/value

The study identified salient benefits of the adoption of BIM and sustainability practices. The proper integration of these concepts and the execution of the recommended useful strategies by construction stakeholders, policymakers and local authorities will enable the built environment to reap the gains of its implementation.

Details

Construction Innovation, vol. 19 no. 3
Type: Research Article
ISSN: 1471-4175

Keywords

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