Scholarly record
VALUATION OF CERTIFIED OFFICE BUILDINGS IN CZECH REPUBLIC
Abstract
Buildings are responsible from 25% to 30% of greenhouse gases production, contributing significantly to global warming. One approach to limiting greenhouse gas production is construction and operation of buildings according to the principles of sustainable construction. There are 113 certified buildings in the Czech Republic. 57% of the total consists of an office building. For this purpose, the LEED and BREEAM global certification programs and one local certification program, SB TOOL CZ, are used in the Czech Republic. The paper deals with the position of environmental certification of office buildings in the Czech Republic. Also impact of certification on the rent of office space is considered. A part of the paper is a case study containing an analysis of 139 office rent offers in the Czech Republic. The analysis also deals the impact of operating costs (service cost) in certified and noncertified buildings. The results suggest that, compared to buildings in the same submarkets, certified buildings have a rental price premium. A questionnaire survey is part of the research as well. The survey deals with priorities for the selection of office area. This survey is carried out for users of green buildings and it is focused to factors of certification. According to survey, multinationals prefer rent of office areas located in certified buildings as well as green solutions generally.
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