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DOI : http://dx.doi.org.gate3.inist.fr/10.1016/j.euroecorev.2012.02.012 [ScienceDirect, via Biblio-SHS] Auteur : Siqi Zheng (Tsinghua University, China), Jing Wu (University of California at Los Angeles), Matthew E. Kahn (National Bureau of Economic Research (NBER), USA), Yongheng Deng (National University of Singapore, Singapore) Paru dans : European Economic Review Volume 56, Issue 5, July 2012, Pages 974-984, "Green Building, the Economy, and Public Policy" Abstract In recent years, formal certification programs for rating and evaluating the sustainability and energy efficiency of buildings have proliferated around the world. Developers recognize that such "green labels" differentiate products and allow them to charge a price premium. China has not formally adopted such rating standards. In the absence of such standards, developers are competing with each other based on their own self-reported indicators of their buildings' "greenness". We create an index using Google search to rank housing complexes in Beijing with respect to their "marketing greenness" and document that these "green" units sell for a price premium at the presale stage but they subsequently resell or rent for a price discount. An introduction of a standardized official certification program would help "green" demanders to acquire units that they desire and would accelerate the advance of China's nascent green real estate market. Highlights ► China has not formally adopted rating standards for "green" buildings. ► We create a Google index to rank "marketing greenness" of housing complexes in Beijing. ► Developers charge a price premium for self-reported buildings' "greenness" during presale. ► These "green" premiums disappear in the subsequent resells and the rental market. ► A standardized certification program would advance China's nascent green real estate market.