The study begins with a discussion of the concept of sustainability, green buildings and the traditional valuation approach. Then valuable information are extracted from the reports of IMMOVALUE project, which is aiming to improve the market impact of energy certification by introducing energy efficiency and life cycle cost into property valuation practice.
A survey collecting Swedish valuers‟ opinion towards the sustainability issue is implemented and some results from early surveys are also employed for exploring this research area.Energy efficiency/Energy Performance Certificate (EPC) is a breakpoint for the integration of green issues into property valuation practice. This is the most feasible way to quantify the effects of green features into property.
Some modified methodologies based on the three traditional valuation approaches are proposed and the income related approach is the most suitable one here. For a good market acceptance of green buildings, the valuation of green issues must be taken.At the very early stage of the process of integrating green features into property valuation, this study explores the result from IMMOVALUE project and other researches. A close review of the process has been made and this may give valuers guidance of how to take green features into account not only in a qualitative, but also in a quantitative way.
Author: Wang, Pengfei