Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223742
Title: PRICE PREMIUM OF RETROFITTED GREEN MARK CERTIFIED HDB PROPERTIES
Authors: LOH WEI TING, NICOLE
Keywords: Real Estate
Tu Yong
2018-2019 RE
RE
Issue Date: 15-May-2019
Citation: LOH WEI TING, NICOLE (2019-05-15). PRICE PREMIUM OF RETROFITTED GREEN MARK CERTIFIED HDB PROPERTIES. ScholarBank@NUS Repository.
Abstract: Since the introduction of the BCA Green Mark Scheme in 2005, approximately 3,620 building projects have attained the BCA Green Mark Award, representing over 36% of total built up GFA in Singapore. However, Singapore is far from achieving the target of having at least 80% of building stock, fulfil this standard by 2030. As 80% of Singaporeans reside in public housing and more than 88% of existing public housing properties that were constructed before the inception of the BCA Green Mark Scheme, this presents an enormous potential of the retrofitting of existing HDB properties to significant improve building performance and reduce the carbon footprint of Singapore’s built environment. This paper is an empirical study using The Hedonic Pricing Model to determine the price premium accorded to existing HDB properties that have been retrofitted to meet the Green Mark standards. The results suggest that the overall price premium ranges from 3.88% to 5.62%. Furthermore, this price premium varies within the different levels of certification. This ranges from 2.76% for Certified-rated buildings, 4.23% for Gold-certified, 5.41% for GoldPlus and 3.6% for Platinum-rated buildings. This study reveals empirical evidence on the green price premium in the public housing realm, providing policymakers with greater considerations and angles to champion HDB green retrofitting works.
URI: https://scholarbank.nus.edu.sg/handle/10635/223742
Appears in Collections:Bachelor's Theses

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