Please use this identifier to cite or link to this item:
Title: The nascent market for "green" real estate in Beijing
Authors: Zheng, S.
Wu, J.
Kahn, M.E.
Deng, Y. 
Keywords: CHINA housing market
Energy efficiency
Environmental sustainability
Green building
Information asymmetry
Issue Date: 2012
Citation: Zheng, S., Wu, J., Kahn, M.E., Deng, Y. (2012). The nascent market for "green" real estate in Beijing. European Economic Review 56 (5) : 974-984. ScholarBank@NUS Repository.
Abstract: In recent years, formal certification programs for rating and evaluating the sustainability and energy efficiency of buildings have proliferated around the world. Developers recognize that such "green labels" differentiate products and allow them to charge a price premium. China has not formally adopted such rating standards. In the absence of such standards, developers are competing with each other based on their own self-reported indicators of their buildings' "greenness". We create an index using Google search to rank housing complexes in Beijing with respect to their "marketing greenness" and document that these "green" units sell for a price premium at the presale stage but they subsequently resell or rent for a price discount. An introduction of a standardized official certification program would help "green" demanders to acquire units that they desire and would accelerate the advance of China's nascent green real estate market. © 2012 Elsevier B.V.
Source Title: European Economic Review
ISSN: 00142921
DOI: 10.1016/j.euroecorev.2012.02.012
Appears in Collections:Staff Publications

Show full item record
Files in This Item:
There are no files associated with this item.


checked on May 20, 2022


checked on Sep 27, 2021

Page view(s)

checked on May 12, 2022

Google ScholarTM



Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.