Analysing the characteristics of green and non-green buildings: from the real estate perspective
Date
2019
Authors
Kim, S.
Lim, B.T.H.
Editors
Chieh, D.C.J.
Advisors
Journal Title
Journal ISSN
Volume Title
Type:
Conference paper
Citation
AIP Conference Proceedings, 2019 / Chieh, D.C.J. (ed./s), vol.2124, iss.020049, pp.1-5
Statement of Responsibility
Conference Name
6th International Conference on Environment: Empowering Environment and Sustainable Engineering Nexus Through Green Technology, ICENV 2018 (11 Dec 2019 - 13 Dec 2019 : Malaysia)
Abstract
The Australian real estate sector has changed rapidly over the last decade. Most notably, the sector has actively embraced the notion of sustainability as it is represented by the increasing number of 'green buildings' across the nation's major metropolitan areas. Nevertheless, the characteristics of green and non-green buildings and their differences have not been fully studied. In addressing this, this research aimed to investigate if green buildings pose much superior building quality than their non-green counterpart. To this, 20 years of transaction data indicating building quality, the level of greenness, and sales prices were collected. These data were analysed using descriptive statistical techniques such as the Mann-Whitney U test and the Spearman rank-order correlation test. The results show that green and non-green building shave several different characteristics which make them distinguished from each other. Specifically, it is found that green buildings generally have superior building quality than their non-green counterpart. This raises a concern that older, shorter,and smaller buildings are relatively behind the trend of the 'green transformation' compared to the good quality buildings.This will inform policymakers more targeted strategies for making the sector greener than the present.
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Copyright 2019 The author(s).