Do green features increase housing value in Malaysia?
Purpose – The purpose of this paper is to identify the perception of valuers towards the contribution of green features in residential property valuation. The concept of green housing was designed to reduce the negative impacts on the environment and humans. The cost of green housing is higher tha...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Emerald Publishing Limited
2022
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| Subjects: | |
| Online Access: | http://eprints.utm.my/101227/1/GohZhenTing2022_DoGreenFeaturesIncreaseHousingValue.pdf |
| _version_ | 1796867024802021376 |
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| author | Goh, Zhen Ting Low, Sheau Ting Choong, Weng Wai Wee, Siaw Chui |
| author_facet | Goh, Zhen Ting Low, Sheau Ting Choong, Weng Wai Wee, Siaw Chui |
| author_sort | Goh, Zhen Ting |
| collection | ePrints |
| description | Purpose – The purpose of this paper is to identify the perception of valuers towards the contribution of
green features in residential property valuation. The concept of green housing was designed to reduce the
negative impacts on the environment and humans. The cost of green housing is higher than the conventional
building and is reflected in the selling price, which is further enhanced by the increasing demand for green
buildings in the housing market. Such a scenario could be a challenge to the valuers when they carry out a
valuation on housing with green features, as there is a lack of information to guide valuers.
Design/methodology/approach – This study used a quantitative research method. A comprehensive
review of the international green rating tools was carried out to ascertain the relative green features in
residential buildings. There are 14 green features identified and grouped into four main categories. A total of
147 valid responses were collected by an online platform and face-to-face distribution among licensed valuers
in Malaysia.
Findings – The result confirmed that the 14 green features are contributing to the residential property
valuation with a reasonable range of adjustment from 2.0% to 6.5%.
Originality/value – The understanding of the range of adjustment for each green feature may provide a
guide to the valuer in determining the range of adjustment based on green features associated with residential
property in Malaysia. The findings contribute ideas and options to the future development of residential
projects by taking into consideration the specific green features that potentially lead to environmental
sustainability and building value. |
| first_indexed | 2024-03-05T21:20:59Z |
| format | Article |
| id | utm.eprints-101227 |
| institution | Universiti Teknologi Malaysia - ePrints |
| language | English |
| last_indexed | 2024-03-05T21:20:59Z |
| publishDate | 2022 |
| publisher | Emerald Publishing Limited |
| record_format | dspace |
| spelling | utm.eprints-1012272023-06-01T10:01:08Z http://eprints.utm.my/101227/ Do green features increase housing value in Malaysia? Goh, Zhen Ting Low, Sheau Ting Choong, Weng Wai Wee, Siaw Chui TH Building construction Purpose – The purpose of this paper is to identify the perception of valuers towards the contribution of green features in residential property valuation. The concept of green housing was designed to reduce the negative impacts on the environment and humans. The cost of green housing is higher than the conventional building and is reflected in the selling price, which is further enhanced by the increasing demand for green buildings in the housing market. Such a scenario could be a challenge to the valuers when they carry out a valuation on housing with green features, as there is a lack of information to guide valuers. Design/methodology/approach – This study used a quantitative research method. A comprehensive review of the international green rating tools was carried out to ascertain the relative green features in residential buildings. There are 14 green features identified and grouped into four main categories. A total of 147 valid responses were collected by an online platform and face-to-face distribution among licensed valuers in Malaysia. Findings – The result confirmed that the 14 green features are contributing to the residential property valuation with a reasonable range of adjustment from 2.0% to 6.5%. Originality/value – The understanding of the range of adjustment for each green feature may provide a guide to the valuer in determining the range of adjustment based on green features associated with residential property in Malaysia. The findings contribute ideas and options to the future development of residential projects by taking into consideration the specific green features that potentially lead to environmental sustainability and building value. Emerald Publishing Limited 2022 Article PeerReviewed application/pdf en http://eprints.utm.my/101227/1/GohZhenTing2022_DoGreenFeaturesIncreaseHousingValue.pdf Goh, Zhen Ting and Low, Sheau Ting and Choong, Weng Wai and Wee, Siaw Chui (2022) Do green features increase housing value in Malaysia? International Journal of Housing Markets and Analysis, 15 (5). pp. 1296-1312. ISSN 1753-8270 http://dx.doi.org/10.1108/IJHMA-09-2021-0101 DOI: 10.1108/IJHMA-09-2021-0101 |
| spellingShingle | TH Building construction Goh, Zhen Ting Low, Sheau Ting Choong, Weng Wai Wee, Siaw Chui Do green features increase housing value in Malaysia? |
| title | Do green features increase housing value in Malaysia? |
| title_full | Do green features increase housing value in Malaysia? |
| title_fullStr | Do green features increase housing value in Malaysia? |
| title_full_unstemmed | Do green features increase housing value in Malaysia? |
| title_short | Do green features increase housing value in Malaysia? |
| title_sort | do green features increase housing value in malaysia |
| topic | TH Building construction |
| url | http://eprints.utm.my/101227/1/GohZhenTing2022_DoGreenFeaturesIncreaseHousingValue.pdf |
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