Building Renovation and Property Value
Abstract: The concern of climate change and Greenhouse Gas emission have increased national consideration toward energy efficiency. Despite noticeable action which have taken by EU cities and Sweden government to mitigate the climate change, there is still shortage in appropriate energy measurements in old residential buildings. Due to the fact that a large share of residential buildings in Sweden have constructed more than 40 years ago, most of them need energy renovation to enhance efficiency and saving more energy. In order to encourage home owners toward energy efficiency renovations, some cost effective measurements have to introduce to people with the view of effect on property value. To this end, 50 detached houses and villas in Kronoberg County in Sweden have been chosen and analyzed to identify how renovation can increase the property value. These houses have been set in different categories by location, heating system, deep renovation, energy and aesthetic renovation. After that, compares the sold prices and biding prices for each category. Moreover, it analyses the people behavior toward renovation to see how can motive people to adopt necessary energy efficient renovation. This research also shows the current situation of building renovation, the most favourite renovation which are adopted by people as well as providing information about the factors affect the value of the house after renovation.
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