Project CEMAPRE internal
| Title | Residential Property Prices and Energy Efficiency: a microeconometric approach based on hedonic models |
| Participants | João Andrade e Silva, Esmeralda Arranhado (Principal Investigator) |
| Summary | In the European Union (EU), buildings account for about 36% of all of the carbon dioxide heating and cooling, together amounting to around 50% of the EU's total energy consumption (Directive 2018/844/EU). Given the relevance of the residential sector to the total building stock, the implementation of policies aimed at increasing its energy performance, such as the introduction of energy efficiency labelling schemes, rank among the most feasible ways of reducing CO2 emissions and mitigating a country's energy dependency. This project builds on a unique dataset of 256,000 residential property sales for Portugal for the period 2009-2013. Hedonic models are considered to measure the effect of energy labels on property prices. Both conditional mean and conditional and unconditional quantile regression models are used. The aim is producing three papers to be published in high level international journals. The first two papers rely on the original dataset gathered for 2009-2013. A third paper will be then produced with an updated version of the dataset. |