The Impact of Green Certification on Office Rents-A Case Study of Taipei City

• Main Authors: Yang, Ya-Ting, 楊雅婷
• Other Authors: 陳奉瑤
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/yam9n7

碩士 === 國立政治大學 === 地政學系碩士在職專班 === 107 === Taiwan’s Green Building Labeling System (Ecology、Energy Saving、Waste Reduction、Health ,EEWH) has been developing for nearly 20 years. However, the number of private office buildings willingly applying for EEWH only accounts for 3.8% of the number of Building Use Permits issued during the same period, which is obviously that the number of certificates is low. On this account, this study intends to increase people’s willingness to apply for EEWH by confirming the premium effect of obtaining Green Building certified on office rent, which can provide economic incentives for people. Based on the rent transaction data of Taipei office buildings from August 2012 to December 2017, this study based on the Hedonic Price Theory Model to conduct an empirical analysis for exploring the influence of obtaining EEWH and LEED certifications on the rent of Taipei office buildings. The results showed that the unit rent of Taipei office buildings with Taiwan’s EEWH has a premium rate of 7.9%. The grades of EEWH also affect the premium, presenting an inverse relation to the premium rate: the premium rate is 16.53% for the bronze level, 7.25% for the Diamond level, and is not significant for the Gold level. The LEED certification factor was further incorporated to compare the premium rates of obtaining single and dual certified. The results showed that the premium rate is 17.12% for dual certified, which is higher than that of 9.12% for single certified. Therefore, there is a synergistic effect between EEWH and LEED certifications. This study further explored the impact of Green Building Labels on the premium for the rent of office buildings in different regions by conducting an empirical analysis for the new and old office business circles in the Xinyi Planning District and the Nanjing-Songjiang Area. The results showed that there is a difference in premium for Green Building Labels between the two regions. The Green Building Labels in the old office business circles with a lower rent level can make their price competition ability prominent. This study confirms the premium effect of obtaining Green Building certified on office rent, which provide policy and economic incentives for the current Green Building Label system.