CEU Electronic Theses and Dissertations, 2025
| Author | Benyak, Barnabas |
|---|---|
| Title | Green Premium and Brown Discount: A Quantitative Meta-Analysis of the Energy Efficiency Premium in European Housing Markets |
| Summary | This paper aims to conduct a meta-analysis on how much of a price premium do more energy efficient homes command in European housing markets. The research questions are: 1 (a) Is there a green premium for energy efficient residential buildings in Europe? 1(b) If yes, what is the magnitude of the green premium? 2(a) Is there a brown discount for energy inefficient residential buildings in Europe? 2(b) If yes, what is the magnitude of the brown discount? To address the research questions, results of various quantitative studies are filtered by objective selection criteria and their results are extracted and pooled. Then, random effects models are conducted with the DerSimonian & Laird (DL), Hedges and Olkin (HO) and restricted maximum likelihood methods. Results show that there is a statistically significant green premium and a statistically significant brown discount as well, confirming research questions 1(a) and 2(a). The magnitude of the green premium is estimated to range from 8% to 12% using the three random effects models, whereas the magnitude of the brown discount is estimated to range from -2% to -10%. The finding in the literature that energy efficiency premia are higher in the sales market than the rental market are corroborated. |
| Supervisor | Danis Andras |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2025/benyak_barnabas.pdf |
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