%X After the adoption of the National Climate Agreement by the Dutch House of 
Representatives, the use of renewable sources and energy efficient attributes in housing to create a 
climate neutral society by 2050 became one of the important long-term policy goals. The effect of energy 
efficiency in housing has been studied in the past, but the current body of literature lacks further insights 
into the comparison between the monetary and non-monetary effects of energy efficiency on the 
residential market. Such insights help to verify whether energy efficient attributes induce both a 
premium on the property price, caused by the willingness to pay, and increased residential satisfaction, 
leading to sufficient willingness to pay. This study compares and elaborates on how the monetary value 
of property and the non-monetary residential satisfaction of residents are affected as a result of energy 
efficient attributes in housing by performing hedonic pricing modelling and ordered logistic regressions 
using WoON 2018 data. The dataset includes information on Dutch demographics, household 
characteristics, property characteristics, and neighbourhood characteristics. The results show that the 
energy efficient attributes associated with property values have limited correspondence to the attributes 
which positively impact residential satisfaction. This finding suggests that the willingness to pay 
generated by residential satisfaction does only seem to induce a limited ability to charge premiums for 
the relevant energy efficient attributes. The limited correspondence observed in the analysis may be the 
result of factors like brown discounts, low capitalisation rates and financial incentives. This study adds
to the existing body of literature by providing a comparison of both types of valuation and a better 
understanding of the underlying assumption of willingness to pay for energy efficient attributes in 
housing.
%A Danique van Beelen
%L theses_frw3850
%D 2022
%T Monetary and Non-Monetary Values of Energy Efficient  Attributes in Residential Property: Do They Match?