How green features of building impact financial benefits and building life cycle: evidence from Sri Lanka

Abstract

The International Valuation Standard Council (IVSC) recognizes the pivotal role of green buildings in achieving sustainability goals, leading them to introduce guidance and standards for valuing sustainability features. Sri Lanka embraces green constructions, necessitating valuers to acknowledge and incorporate green features into property valuation. This study examines the perspectives of professional valuers on recognition and the significance of economic benefits associated with green features throughout a building's life cycle and across property types. We collected data through a structured questionnaires and analyzed the data using ANOVA and Tukey HSD tests. Findings indicate that valuers possess a moderate level of awareness, and that financial benefits vary across different phases of a building's life cycle. Management, energy and atmosphere, and indoor environmental quality are essential for all property types. Continuous awareness programs are imperative to enhance valuers' understanding and maximize financial benefits.

Keywords

• green building council
• green features
• rating system
• property valuation
• sri lanka