Green Features, Symbolic Values and Rental Premium: Systematic Review and Meta-analysis

Typical determinants of office building rental prices include location, height, age, and other tangible features of a building - and this is no exception to green buildings. Although evidence shown that green office buildings command rental premium than comparable non-green office buildings, literature could not fully explain causes of the higher rental prices. In addressing this gap, the aim of this research is to identify possible rental price attributes of green office buildings. More specifically, this study attempts to (1) analyse collective influence of various rental price attributes of green buildings, (2) review methods applied to probe the rental price attributes. The study was conducted by systematic review and meta-analysis on related literature. The result shows that literature identified rental attributes of green buildings using regression analysis, and these attributes are mostly indifferent to those of non-green buildings. Limited attention was given to attributes that are specific to green buildings. More specifically, green office building' symbolic aspect was not considered when analysing its rental premium. The result will be utilised in subsequent stage of the research project to probe the significance of its impacts.