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Saul Nurick Karen Le Jeune Emma Dawber Ryan Flowers Jennifer Wilkinson

Source: www.greentechforum.net. Incorporating Green Building Features and Initiatives (GBFIs) into Commercial Property Valuation: Perceptions of South African Valuers. Department of Construction Economics and Management University of Cape Town. Saul Nurick Karen Le Jeune Emma Dawber

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Saul Nurick Karen Le Jeune Emma Dawber Ryan Flowers Jennifer Wilkinson

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  1. Source: www.greentechforum.net Incorporating Green Building Features and Initiatives (GBFIs) into Commercial Property Valuation: Perceptions of South African Valuers Department of Construction Economics and Management University of Cape Town Saul Nurick Karen Le Jeune Emma Dawber Ryan Flowers Jennifer Wilkinson

  2. Research Question How familiar is the South African valuation profession with green building, and are they taking GBFIs into account when calculating market value?

  3. Research Proposition As green building becomes an increasingly important factor for stakeholders of commercial properties, it is imperative for valuers to be able to take into account the effect on value of GBFIs in their valuation reports?

  4. Green Buildings • South African Market for Green Building • GBFIs • Applicability of traditional commercial valuation methods in valuing green building • Green Building Valuation • Green Star rating • Rationale • Green Valuation Issues • Potential Value Impacts

  5. Green Buildings

  6. Research Methods

  7. Findings • Green Building Awareness • Impact of Rating Tools on Value • Experience in Valuing Green • Impact of GBFIs on Market Value • Problems with Valuing Green • Valuation Methods Utilised

  8. Respondents were asked to rank the problems associated with green valuation Findings

  9. Research Methods

  10. Valuation Simulation Source: Vunani Property Investment Fund

  11. Valuation Simulation Change all the valuation variables

  12. Change in only Net Rental Valuation Simulation

  13. Conclusions • There is currently a reluctance by valuers to incorporate GBFIs in their valuations. • Lack of transactional data is a major contributing factor. • Energy was identified as the most significant GBFI in green commercial buildings. • Valuers predict that GBFIs will slowly make an impact in the future.

  14. Thank you Research Partners

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