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Friday, September 22 2017 16:09:35

Introduction
APC / ATC
CPD-HKIS
CPD by Others
 
Code : 2017147
Event Name : Sharing on Research on “The Relationship between Green Certified (BEAM Plus) Buildings and property price in Hong Kong” by the Department of Building and Real Estate, The Hong Kong Polytechnic University
CPD Code : Formal Events
Speaker : Sr Prof Eddie Chi-man HUI, MH
Prof. Hui is currently Professor of Real Estate at the Department of Building and Real Estate, the Hong Kong Polytechnic University. He is currently
• Chairman of HKIS Property and Facility Management Divisional Council
• Member (and Committee Chair) of Property Management Services Authority
• Member of the Sustainability Advisory Committee of the LINK
• Member of REITs Committee, Securities and Futures Commission
• Non-Executive Director, Urban Renewal Authority
• Member, Buildings Appeal Tribunal

Prof. Hui was the Town Planning Board member, Rural and New Town (and Metro) Planning Committee member, Steering Committee member of the Long-Term Housing Strategy, Real Estate Services Training Board member, etc. His expertise and principal research interests in real estate are versatile: from theoretical to practical, urban to rural, construction development to environmental management and property management. He is dedicated to research and consultancy with more than 200 scholarly outputs over the past few years. His research had been published in renowned international journals, such as Journal of Real Estate Finance and Economics, Journal of Property Research, Physica A, Urban Studies, Journal of Urban Affairs, Transportmetrica, International Real Estate Review, Housing Studies, Journal of Real Estate Portfolio Management, Journal of Real Estate Literature, Journal of Property Investment and Finance, Property Management, Construction Management and Economics, Journal of Urban Planning and Development, International Review of Economics and Finance, Journal of Housing and the Built Environment, Habitat International and Cities, Building and Environment, Ecological Indicators, Systems and Control Letters, etc. Not only has he been member on editorial boards, but also as regional editor/guest editor for key international journals. Currently, he is the Editor-in-Chief of Habitat International, Regional Editor of International Journal of Strategic Property Management, Associate Editor of Urban Planning and Development, ASCE.
Event Date : 10/08/2017
Event Time : 7:00 pm – 8:30 pm
CPD Hour(s) : 1.5
Divisional PQSL Hour(s) : 1.5
Venue : Surveyors Learning Centre, Room 1207, 12/F, Wing On Centre, 111 Connaught Road Central, Sheung Wan, Hong Kong
Division : PFMD
Closing Date : 04/08/2017
Fee : HK$120 for member, HK$150 for non-member (HK$30 walk-in surcharge for all pricings listed)
Priority : First-come-first-served
Language : Cantonese (supplement with English)
Details :

With the popularization of the notion of sustainable development since the early 1990s, demand for goods and services which emphasize lower environmental impacts has soared, and accordingly an expanding market for eco-friendly products (and services) on a global scale. This suggests that there exists a willingness-to-pay (WTP) premium for these products over regular products.

 

In the construction industry, this takes the form of “green buildings,” which stress better environmental performance (or lower operating costs due to reduced energy/water consumption). Yet, for stakeholders such as potential tenants and investors, the actual environmental performance of these buildings is very difficult (or too costly) to discern. In light of this issue, a variety of voluntary green building certifications that provide a standardized, universally-recognized, and much more cost-effective way to identify quality and efficient buildings have been established. Within the context of Hong Kong, BEAM Plus, in many ways compatible to international green building labels such as LEED and BREEAM, is one of those certifications.

 

On the other hand, due to 1) higher cost in employing skilled labour for the production of innovative and high-performance construction materials; and 2) higher life-cycle energy consumption as a result of higher embodied energy in the production of these materials, it costs more to develop green buildings. One important question arises as to whether there exists a WTP among occupiers and/or property investors for space within certified green buildings that is sufficient enough to cover the higher construction cost. 

 

This study, as a response to this question, aims to investigate the relationship between the transaction price of flats in selected residential property developments and BEAM Plus certification.