Spatial implications of EPC rankings over residential prices
Document typePart of book or chapter of book
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Project¿CUANTO NOS IMPORTA LA CALIFICACION ENERGETICA? UN ANALISIS DEL NIVEL DE COMPRENSION DE LOS EPC, CONFIANZA PERCIBIDA E IMPACTO SOBRE LAS PREFERENCIAS Y VALORES RESIDENCIALES (MINECO-BIA2015-63606-R)
Empirical evidence has found a correlation between Energy Performance (EPC) rankings and housing prices. Though, little attention has been devoted to research the spatial implications of EPC marginal prices. This paper attempts to fill this gap using a geographical-weighted-regression, departing from listing prices for Barcelona. The results suggest the existence of a premium equivalent to 1.7% for each EPC ranking, which nearly double the previous reported evidence in this city. Also, the impact shows a non-stationary distribution across urban space. As a matter of fact, the higher the impact, the lower the price of apartments and their quality. The apartments portraying the larger impact are located in peripheral areas inhabited by medium and low-income population. So, the equity of less wealthy population witnesses the largest brown discount.
This is an author accepted manuscript of the book chapter: "Spatial Implications of EPC Rankings Over Residential Prices" written by Carlos Marmolejo-Duarte, Ai Chen, Marina Bravi. Included in the book: Mondini, G. et al. [eds]. Values and Functions for Future Cities. Cham, Switzerland: Springer Nature, 2020. ISBN 978-3-030-23786-8. https://doi.org/10.1007/978-3-030-23786-8 . The final authenticated version of the chapter is available online at: https://doi.org/10.1007/978-3-030-23786-8_4
CitationMarmolejo, C.; Chen, A.; Bravi, M. Spatial implications of EPC rankings over residential prices. A: "Values and functions for future cities". Springer Nature, 2020, p. 51-71.