Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223247
Title: THE DEMAND FOR GREEN RESIDENTIAL BUILDINGS IN SINGAPORE
Authors: CHUA GUOXING
Keywords: Real Estate
Estate
Issue Date: 31-May-2010
Citation: CHUA GUOXING (2010-05-31T08:25:33Z). THE DEMAND FOR GREEN RESIDENTIAL BUILDINGS IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: The aim of this research is to evaluate the demand for green homes in Singapore and suggest recommendations to attract people to live in green homes by analyzing the findings from a survey questionnaire. The demand for green homes has decreased due to low awareness, poor understanding, additional upfront costs and skepticism about durability. Those who are female, old or lowly educated have low awareness. Outreach efforts through mainstream media like television and newspaper are essential in educating people on benefits especially like lower utility bills, increased property values, better health, work productivity and information of materials in green homes. Tax and financial benefits, rising energy costs and higher resale value are key market forces that increase the demand for green homes. The perception of intangible benefits should also be included as most female are motivated by it. Attractive features of green homes include energy and water conservation, reduction in heat and natural ventilation. Local consumers have greater confidence in the green standards and certifications of developments than overseas. Most people are willing to pay for the premium of green homes which averages around 4%. Currently, people are not so receptive of green homes but are likely to develop greater acceptance in future. Those who are young, highly educated or have high income are more receptive of green homes. The above information should be considered strongly by developers and the government when building, marketing, pricing or creating awareness of green homes in order to achieve greater acceptance and higher demand.
URI: https://scholarbank.nus.edu.sg/handle/10635/223247
Appears in Collections:Bachelor's Theses

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