Abstract:
The holistic look at the buildings over their life cycle and the
implementation of the principles of sustainable development are
two main trends, which could be observed in the realty market
and in the construction sector in recent years. Environmental
concerns and social well-being are beginning to influence the property
markets and the pricing of properties. Users and owners of properties
already begin to consider benefits and risks associated with ownership
and using sustainable buildings. This fact is beginning to reflect in the
increasing share of sustainable buildings on the realty market. Is their
market value different in comparison with common properties? It is
necessary to combine knowledge and experience from economic field
with technical experiences and knowledge of social issues and relation to
environment within assessment of sustainability buildings. Sustainable
buildings are mostly more resistant to obsolescence. Their service could
be cheaper, they may offer higher quality of life and they might increase
the owner image. This can reflect in higher market value of sustainable
buildings in comparison with conformal buildings. This paper deals with
application of basic appraisal methods in terms of sustainable building
assessment, especially with difficulties how to argue their higher value.
This paper summarizes the market share of sustainability buildings in the
Czech Republic on example of family houses.
Keywords:
market value, appraisal,
sustainability, whole life
costing
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