Obsolescence of Green Office Buildings: A Literature Review

This paper reviews the elements or features that affect the rental or capital values of green commercial buildings. The green related factors affecting the rental and capital values of commercial property from previous studies can be classified into; (1) Physical environment, (2) Economic factors; (3) Functional attributes; (4) Design attributes; (5) Locational attributes; (6) Operating expenses/ Energy consumption; (7) Lease terms; (8) Occupancy level/ Vacancy rates, and; (9) Economics incentives. By critically reviewing past researches and methodologies, this study proposes the idea of embedding the 6-key features of Green buildings; Water and Energy efficiency, Site and locality, Construction Materials, Indoor Air Quality and Landscape and Design as the elements of commercial property obsolescence.