<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Valuations of real estate are widely used for various purposes and it relied always upon the financial and other markets. Valuation methodology is based on the operation of the free market economy and the real estate properties. The issue of certified properties is relatively new in the field of real estate valuation and is not sufficiently explored. Certified buildings are preferred by major corporate tenants with international field of activity who often have ethical rules for sustainable development. Therefore, certified properties are attractive to international commercial real estate investors who have higher purchasing power and are willing to pay a higher purchase price. Sustainable property certification is an element affecting the market value of the property. The purpose of this presented research is to quantify the impact of property certification on the value of office properties in Prague and subsequently to determine the impact of sustainability certificates on the market value of the land by using basic valuation techniques. The outcome of the project could be used by real estate valuation experts as a guideline to consider the future project certification and its impact on the land market value.</p>
</abstract>

Valuations of real estate are widely used for various purposes and it relied always upon the financial and other markets. Valuation methodology is based on the operation of the free market economy and the real estate properties. The issue of certified properties is relatively new in the field of real estate valuation and is not sufficiently explored. Certified buildings are preferred by major corporate tenants with international field of activity who often have ethical rules for sustainable development. Therefore, certified properties are attractive to international commercial real estate investors who have higher purchasing power and are willing to pay a higher purchase price. Sustainable property certification is an element affecting the market value of the property. The purpose of this presented research is to quantify the impact of property certification on the value of office properties in Prague and subsequently to determine the impact of sustainability certificates on the market value of the land by using basic valuation techniques. The outcome of the project could be used by real estate valuation experts as a guideline to consider the future project certification and its impact on the land market value.

Added value of sites suitable for sustainable office development

Organization, Technology and Management in Construction: an International Journal

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

{"article-title":"Added value of sites suitable for sustainable office development"}

Valuations of real estate are widely used for various purposes and it relied always upon the financial and other markets. Valuation methodology is based on the...

Added value of sites suitable for sustainable office development

Article Category: Research Paper

Data publikacji: 20 lis 2021

Zakres stron: 2465 - 2471

Otrzymano: 12 maj 2021

Przyjęty: 14 lip 2021

DOI: https://doi.org/10.2478/otmcj-2021-0026

Słowa kluczowe
Real Estate Valuation, Sustainable Office Development, Residual method, LEED, BREEAM

© 2021 Josef Kupec, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Added value of sites suitable for sustainable office development

Article Category: Research Paper

Data publikacji: 20 lis 2021

Zakres stron: 2465 - 2471

Otrzymano: 12 maj 2021

Przyjęty: 14 lip 2021

DOI: https://doi.org/10.2478/otmcj-2021-0026

Słowa kluczoweReal Estate Valuation, Sustainable Office Development, Residual method, LEED, BREEAM

© 2021 Josef Kupec, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Słowa kluczowe
Real Estate Valuation, Sustainable Office Development, Residual method, LEED, BREEAM