Qualitative Study of Green Certificates and What Different Actors Think is Better from an Economical Point of View : Is it Economically Worth Demolishing a Building in Order to get a Green Certificate?
Abstract: Over the last decade it has not gone unnoticed that there is an increase of green buildings. People have started to take into consideration that the environment is in need of help and that the construction and real estate sector has been contributing to a high environmental impact. There have been several studies about how to lower this impact and one way is the green certifications. The purpose of this study is to investigate whether it is more economically worth demolishing and rebuilding than renovating an older building. As this is a real estate economics paper this will only focus on the economic benefits and values. In addition, investigate the impact of the EU Taxonomy on the certifications. To be able to find the answers a qualitative research method will be used, with semi-structured interviews and secondary data. There were 6 conducted interviews with each from a different responsibility area, different companies, different amounts of experience and different actors in the real estate sector. The results showed a slight advantage of demolishing and rebuilding as most newly produced buildings have higher value as well as higher rent levels throughout the city. Renovating can have its advantages at some point but depreciation will have its impact on the older buildings. This study will contribute to existing literature on the subject as well as taking it further for those wanting to compare with actual numbers.
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