Mapping the International Valuation Standards ESG criteria and sustainability rating tools adopted at scale by the Australian commercial real estate market

Journal of Property Investment and Finance, Journal Year: 2024, Volume and Issue: 42(5), P. 494 - 523

Published: May 29, 2024

Purpose The proliferation of environmental rating tools over the past two decades has endeavoured to assist industry in measuring sustainability. Recent changes International Valuation Standards (IVS) have directed valuers consider ESG. purpose this study aims examine how commonly utilized sustainability tools, which been employed communicate building credentials, align with IVS categories Design/methodology/approach research utilises categorisation ESG and maps adopted at scale by Australian Commercial Real Estate market. approach identifies various attributes within utilised that defined criteria. Findings mapping provides insights into coverage criteria mainstream used Australia. Further, existing are relevant built environment, not clearly identified IVS, but an important role evaluating commercial real estate. Practical implications For investors, occupiers valuers, on current, IVS-defined metrics. This assists providing greater clarity regarding relationship between recently as key considerations valuation practice help provide transparency understanding for property stakeholders. Originality/value importance monitoring, reporting enhancing disclosures emerged a central issue significant industry. first evaluation map against IVS.

Language: Английский

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Green Exits - An EU Taxonomy initiated strategy framework for Nordic housing funds

Published: Jan. 1, 2025

Language: Английский

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Building certification schemes – a way towards better IAQ and thermal comfort in schools? A critical review of schemes used in Northern European countries

Building and Environment, Journal Year: 2025, Volume and Issue: unknown, P. 112786 - 112786

Published: March 1, 2025

Language: Английский

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Decarbonising non-domestic buildings at scale − A systematic review

Energy and Buildings, Journal Year: 2025, Volume and Issue: unknown, P. 115587 - 115587

Published: March 1, 2025

Language: Английский

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The nascent evolution of blockchain for real estate investment in the USA

Journal of Property Investment and Finance, Journal Year: 2025, Volume and Issue: unknown

Published: March 15, 2025

Purpose Emergent research around the operationalisation of innovative technology for real estate suggests blockchain platforms can improve market accessibility, liquidity, transparency, due diligence costs and overall transaction times, providing enhanced diversification opportunities an optimised investment process. This paper evaluates initial impacts technologies where they have seen most growth, exploring United States America market. Design/methodology/approach After reviewing literature on estate, secondary approach to data collection mined verified information through Crunchbase, a global companies database, analyses resulting 24 provide snapshot currently using investment. Findings Blockchain provides which effectively mediate traditional barriers direct However, finds that theoretical benefits this are yet be realised, legal complexities, bureaucratic processes real-world dynamics. Considering burgeoning stage development it primarily transacting domestic estate. Currently, influence is apparent, but not as disruptive commonly perceived. Practical implications The insight into nascent evolution investment, realities its limited application future role within sector increasingly influenced by technologies. Originality/value highlights novel use reflecting systematically in USA at vanguard adoption.

Language: Английский

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Is the Energy Transition of Housing Financially Viable? Unlocking the Potential of Deep Retrofits with New Business Models

Buildings, Journal Year: 2025, Volume and Issue: 15(7), P. 1175 - 1175

Published: April 3, 2025

The transition to energy-efficient buildings is a priority of the European EPBD (Energy Performance Building Directive) and requires deep retrofits reduce consumption emissions. However, their financial viability remains underexplored. This research assesses feasibility retrofit interventions through innovative business models, focusing on Managed Energy Services Agreement (MESA), which considered most effective for residential buildings. Additionally, we integrate off-site production from Energiesprong model, optimizes costs time long-term contracts industrialized technologies. analysis targets two investment profiles—owner/tenant developer/entrepreneur—in Italian urban contexts with different market dynamics. A static evaluates based existing technologies, while dynamic considers future profitability improvements because cost reductions enabled by production. results indicate that, under current conditions, retrofitting not financially sustainable without public subsidies. driven technologies improve profitability, making large-scale feasible. Moreover, real estate characteristics affect sustainability: in smaller cities, deeper are necessary become viable.

Language: Английский

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Nonlinear effects of ESG on operational efficiency and operational performance of REITs

Property Management, Journal Year: 2025, Volume and Issue: unknown

Published: April 18, 2025

Purpose The purpose of the paper is to investigate nonlinear effects environmental, social and governance (ESG) performance on operational efficiency Real Estate Investment Trusts (REITs). Design/methodology/approach This study employs pooled ordinary least squares regression 190 listed REITs from various economies around world over period 2018 2022. Findings finds an inverted U-shaped association between overall ESG individual pillars REITs’ efficiency. findings also reveal performance. However, only environmental pillar has a significant relationship with results indicate that when investments are increasing low moderate level, this leads better Nevertheless, suffer declining at higher level initiatives. Originality/value Despite studies being performed ESG’s impact financial performance, majority these research did not consider implications Additionally, have explored linear variables confined ESG. It primary thrust fill gaps by examining as well three

Language: Английский

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Creating a strategy framework for investor real estate management

Journal of European real estate research, Journal Year: 2023, Volume and Issue: 16(1), P. 22 - 41

Published: April 7, 2023

Purpose The aim of this paper is to introduce a framework that helps identify strategic themes on which real estate investors form their strategies. A holistic approach management in has enjoyed popularity corporate research, while similar research been lacking from the investor-based management. Design/methodology/approach design consists two main parts: 1) formulating propositions based existing literature and 2) attempting validate through qualitative interview study with major owners Finland. Findings finding current reflect transient nature competitive advantages assess strategies accordingly. companies consider traditional profitability revenue growth aspects business but also more long-term future dimension. As an outcome, base eight are “Innovation”, “ESG”, “Marketing sales”, “Financial management”, “Leasing tenant satisfaction”, “Competitive environment portfolio “Outsourcing partnerships” “Cost operation optimization”. Research limitations/implications This opens opportunities for concerning different investment impacts. Practical implications presented provides support create strategy or evaluate recognize operational actions decisions relevant strategy. Originality/value extension (CRE) by showing CRE theories adaptable provide value contributes providing well-founded empirically contested framework, IREM identifying

Language: Английский

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A Feasibility Analysis of Energy Retrofit Initiatives Aimed at the Existing Property Assets Decarbonisation

Sustainability, Journal Year: 2024, Volume and Issue: 16(8), P. 3204 - 3204

Published: April 11, 2024

In light of the growing demand for sustainability in construction sector and real estate market, European Community (EC) has recently begun incentivizing renovations private public buildings. This aligns with EC’s aim to reduce harmful emissions by 55% 2030 compared 1990 levels, achieve complete decarbonization buildings, i.e., zero this sector, 2050. Given framework, study aims verify financial viability associated “green” as well monetary benefits related efficient nature these buildings resulting reduction energy consumption. Lastly, an investigation is conducted determine economic feasibility retrofit initiatives on existing building assets comparing required costs against potential increase market value a retrofitted residential unit. Along assessing undisputed environmental advantages community all users, research assess sustainable initiatives, providing insight into how best pursue aims.

Language: Английский

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The impact of green building certifications on market value and occupant satisfaction

International Journal of Management & Entrepreneurship Research, Journal Year: 2024, Volume and Issue: 6(8), P. 2782 - 2796

Published: Aug. 30, 2024

Green building certifications, such as LEED, BREEAM, and WELL, play a significant role in promoting sustainability enhancing the quality of built environment. This review explores dual impact these certifications on market value occupant satisfaction, providing comprehensive analysis based empirical data case studies. examines how green influence property value. Certified buildings often command higher values due to their superior energy efficiency, reduced operational costs, enhanced environmental performance. These attract premium rents exhibit occupancy rates, reflecting growing tenant preference for sustainable healthier living working environments. Investors developers are increasingly recognizing long-term financial benefits, including returns investment increased asset delves into satisfaction. Green-certified designed improve indoor quality, offering better air natural lighting, thermal comfort. features contribute well-being productivity occupants, evidenced by numerous surveys studies linking satisfaction levels. Occupants report fewer health issues, greater comfort, overall life, making desirable residential, commercial, institutional use. However, this also acknowledges challenges limitations associated with initial costs complexity certification processes. Despite challenges, benefits terms compelling. concludes highlighting future trends, advancements technologies increasing importance regulatory frameworks supporting practices. It underscores need holistic approach that integrates economic, environmental, social considerations maximize certifications. Keywords: Building, Market Value, Occupant Satisfaction, Review.

Language: Английский

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