The nascent market for "green" real estate in Beijing

被引：132

作者：

Zheng, Siqi ^{[2
]}

Wu, Jing ^{[1
,2
]}

Kahn, Matthew E. ^{[3
,4
]}

Deng, Yongheng ^{[1
]}

机构：

[1] Natl Univ Singapore, Singapore 117548, Singapore

[2] Tsinghua Univ, Beijing, Peoples R China

[3] Univ Calif Los Angeles, Los Angeles, CA 90024 USA

[4] Natl Bur Econ Res, Cambridge, MA 02138 USA

来源：

EUROPEAN ECONOMIC REVIEW | 2012年 / 56卷 / 05期

基金：

中国国家自然科学基金;

关键词：

Green building; Energy efficiency; Environmental sustainability; Information asymmetry; CHINA housing market;

D O I：

10.1016/j.euroecorev.2012.02.012

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In recent years, formal certification programs for rating and evaluating the sustainability and energy efficiency of buildings have proliferated around the world. Developers recognize that such "green labels" differentiate products and allow them to charge a price premium. China has not formally adopted such rating standards. In the absence of such standards, developers are competing with each other based on their own self-reported indicators of their buildings' "greenness". We create an index using Google search to rank housing complexes in Beijing with respect to their "marketing greenness" and document that these "green" units sell for a price premium at the presale stage but they subsequently resell or rent for a price discount. An introduction of a standardized official certification program would help "green" demanders to acquire units that they desire and would accelerate the advance of China's nascent green real estate market. (C) 2012 Elsevier B.V. All rights reserved.

引用

页码：974 / 984

页数：11

共 18 条

[1] Market size in innovation: Theory and evidence from the pharmaceutical industry [J].