Mark, Friso van der (2022) The impact of sustainable policy on office transaction values. Master thesis.
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Abstract
The Dutch government transformed their climate ambitions into proposed targets to strive for a climate-neutral built environment in 2050. The first deadline is the upcoming obligatory requirement for offices larger than 100 square metres (sqm) to have at least an EPC C-label. This study looks at the consequences the upcoming deadline has on the market dynamics by applying a multiple OLS regression analysis on 2,053 office investment transactions, which took place between Q1 2015 and Q2 2022. We found a negative weakly significant divergence of 23.5 per cent in the average transaction value of “2023 proof” and “non-2023 proof” offices seven years before the deadline. Furthermore, the results reveal three years, and within two years before the deadline, a positive weakly significant diverging trend of respectively 31.9 and 32.7 per cent between the average transaction values of “2023 proof” and “non-2023 proof” offices. Possibly both the Covid-19 pandemic and the approaching deadline contributed to the emergence of this trend. Altogether, this study tried to map the course of the sustainable deadline effect through time. As more Energy Efficiency Obligatory Schemes (EEOS) will be implemented in the future, this paper forms an initial ground for subsequent studies to analyse the effect of sustainability policy deadlines on asset investment market dynamics.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Liu, X. |
| Date Deposited: | 21 Jul 2022 12:34 |
| Last Modified: | 21 Jul 2022 12:34 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/3910 |
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