Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223766
Title: CONSTRUCTION QUALITY AND GREEN LABELS FOR OFFICE BUILDINGS IN SINGAPORE
Authors: LOW PEI LING, SYLVIA
Keywords: Real Estate
Sing Tien Foo
RE
2018/2019 RE
Construction Quality
Green buildings
Green labels
Office Prices
Issue Date: 28-Nov-2018
Citation: LOW PEI LING, SYLVIA (2018-11-28). CONSTRUCTION QUALITY AND GREEN LABELS FOR OFFICE BUILDINGS IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: In light of the limited literature on green premiums based in the Singapore context, this dissertation aims to investigate the extent of green premiums in the office sector. Additionally, this dissertation also aims to investigate the relationship between construction quality and green labels, and empirically disentangle the two factors in idetermining office price premiums. This study first investigates the premium effects of green strata offices in Singapore by matching Green Mark projects in 2005 -2017 to a comprehensive transactional data obtained from the REALIS database. Empirical evidence showed that green strata office fetched a 5% premium on average, and offices with better Green Mark Certification fetched even higher premiums at 22% (Green Mark Platinum) and 18% (Green Mark Gold Plus). The paper then delves into examining the relationship of construction quality and green premiums. Using a difference-in-difference approach, the interactive effects of the CONQUAS Star and Green Mark label is found to fetch a 48% premium at the 5% significance level. However, results also suggests an inherent collinearity between construction quality and green labels. The results should therefore be used in a measured approach and the in the context of strata offices. The findings in this paper serve to supplement existing literature by providing empirical evidence of price premiums in green commercial buildings to further strengthen the business case for green buildings. In addition, by establishing a relationship between construction quality and green labels, it could help future studies to form a base understanding on the two attributes prior to quantifying their respective influence on the purchase and investment on green buildings.
URI: https://scholarbank.nus.edu.sg/handle/10635/223766
Appears in Collections:Bachelor's Theses

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