Schipper, Daan (2022) The Capitalization of Energy Labels for Post-1950 Residences in the Netherlands: A Comparison between Housing Types. Master thesis.
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Abstract
This research paper uses hedonic regression analysis to examine the relationship between energy labels and housing prices in the form of government-assessed WOZ-value. Additionally, interaction effects are used to infer whether the extent to which energy labels are capitalized into housing price differs between housing types. Data from CBS’s 2015 WoonOnderzoek is used, containing detailed data on residences in the Netherlands. The final sample consists of 2,534 properties. It is concluded that properties with an A energy label are assessed at a value that is between 4.1% and 5.5% higher than properties with an energy label of E or worse. Flats and apartments are the only housing type for which evidence is found which suggests that the price effects of a poor energy label are more negative than they are for other housing types. This could be a result of a more general relation between building quality and energy labels, but the results found still shed light on the problem that is energy poverty and its prevalence in low-quality flats and apartments. Future research could use more detailed data to further examine this relationship, and could incorporate the effect of energy price shocks on capitalization and energy poverty.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Daams, M.N. and Vlist, A.J. van der |
| Date Deposited: | 06 Sep 2022 14:52 |
| Last Modified: | 06 Sep 2022 14:52 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/4028 |
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