Energy performance certificates in the Turin real estate market

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Tipo di pubblicazione: Articolo su rivista
Tipologia MIUR: Contributo su Rivista > Articolo in rivista
Titolo: Energy performance certificates in the Turin real estate market
Autori: Fregonara, Elena; Rolando, Diana; Semeraro, Patrizia
Autori di ateneo:
Titolo del periodico: JOURNAL OF EUROPEAN REAL ESTATE RESEARCH
Tipo di referee: Esperti anonimi
Editore: Emerald
Intervallo pagine: pp. 1-21
Numero di pagine: 21
ISSN: 1753-9269
Abstract: The purpose of this paper is to assess the impact of the Energy Performance Certificate (EPC) on the Italian real estate market, focusing on old buildings. The contribution of EPC labels to house prices and to market liquidity was measured, in order to analyse different aspects of the selling process. A traditional hedonic model was employed to explain the variables of listing price, transaction price, time on the market and bargaining outcome. In addition to EPC labels, the building construction period and the main features of apartments were included in the model. A sample of 879 transactions of old properties in Turin in 2011-2014 was considered. A first hedonic model let us suppose that low EPC labels (E, F and G) were priced in the market, although EPC labels explained only 6-8% of price variation. A second full hedonic model, which included apartment characteristics, revealed that EPC labels had no impact on prices. In Italy EPC has been mandatory for house transactions since 2009, so there are few studies on the effect of EPC on the Italian real estate market, at least to our knowledge. Furthermore, unusually for the Italian context, in this paper also transaction prices were analysed, in addition to the more frequently used listing prices.
Status: In stampa
Lingua della pubblicazione: Inglese
Parole chiave: listing price, energy performance certificate, hedonic model., bargaining outcome, time on the market, transaction price
Dipartimenti (originale): NON SPECIFICATO
Dipartimenti: DISMA - Dipartimento di Scienze Matematiche
DAD - Dipartimento di Architettura e Design
URL correlate:
    Area disciplinare: Area 08 - Ingegneria civile e Architettura > ESTIMO
    Data di deposito: 15 Feb 2017 11:53
    Data ultima modifica (IRIS): 15 Feb 2017 12:02:22
    Data inserimento (PORTO): 17 Feb 2017 03:02
    Permalink: http://porto.polito.it/id/eprint/2665236
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