The purpose of this paper is to study the role of valuer in green building development. Green building is the main agenda of sustainability in built environment. While, valuer is one of the market player in built environment, which their existence indirectly influences the development of green building. Their capability in interpreting the value of building should be express clearly. Therefore, question arises whether valuer really understand green development concept and embrace the presence of green in valuation exercise. The objective of this study is to determine the issue in respect of valuer in valuing green building. Methodology used in this research is by conducting a review on previous research which valuer incorporating in green building valuation. This study discovers that there are issues and challenges in the role as valuer in green building valuation, lack of knowledge and awareness in green development as much as lack of information and data to interpret the value of green.
Abdullah, L., Mohd, T., & Sabu, R. (2016). A Conceptual Framework of Green Certification Impact on Property Price. In MATEC Web of Conferences (Vol. 66).
Abbasian,E., Nazari, M., & Nasrindoost, M. (2012). Sustainable development strategies for energy sector in Iran. International Jurnal of Academic Research in Business and Social Sciences, 2(9), 216-229
Abidoye, R. B., & Chan, A. P. C. (2016). Critical determinants of residential property value: professionals’ perspective. Journal of Facilities Management, 14(3), 283–300.
Asaju, A. S., & Ajayi, M. A. (2011). Bridging the Gap Between Land Resource Exploitation and Sustainable Development in Nigeria.
Babawale, G. K., & Oyalowo, A. B. (2011). Incorporating Sustainability into Real Estate Valuation: the Perception of Nigerian Valuers. Journal of Sustainable Development, 4(4), 236–248.
Ellison, L., & Sayce, S. (2007). Assessing sustainability in the existing commercial property stock: Establishing sustainability criteria relevant for the commercial property investment sector. Property Management, 25(3), 287–304.
Georgia Warren-Myers. (2012). The value of sustainability in real estate: a review from a valuation perspective. Journal of Property Investment & Finance, 30(2), 115–144.
Ghazali, M. M., Raid, M. M., Kasim, A. C., & Hussin, K. (2015). Impact of Indoor Environmental Quality ( IEQ ) and Innovation ( IN ) Features on Residential Property Price in Malaysia?: A Review. In ERES 2015 (pp. 63–73).
Ibrahim, F. A., Wira, M., Shafiei, M., Said, I., & Ismail, R. (2013). Malaysian Housing Developers ’ Readiness in Green Homes Development, 28(3), 343–352.
Jamaludin, A., Inangda, N., & Ariffin, A. (2011). Energy performance: A comparison of four different multi-residential building designs and forms in the equatorial region. Clean Energy and.
Jayantha, W. M., & Man, W. S. (2013). Effect of green labelling on residential property price?: a case study in Hong Kong. Journal of Facilities Management, 11(1), 31–51.
Lorenz, D., & Lützkendorf, T. (2008). Sustainability in property valuation: theory and practice. Journal of Property Investment & Finance (Vol. 26).
Lorenz, D., & Lützkendorf, T. (2011). Sustainability and property valuation. Journal of Property Investment & Finance, 29(6), 644–676.
Lorenz, D., Trück, S., Lützkendorf, T., & Lorenz, D. (2006). Addressing risk and uncertainty in property valuations?: a viewpoint from Germany.
Moran, K. (2010). The effect of sustainability on property value. Thesis. Rinker School of Building Contruction
McCord, J., McCord, M., McClusky, W., Davis, P. T., & McIlhatton, D. (2014). Effect of public green space on residential property values in Belfast metropolitan area. Journal of Financial Management of Property and Construction, 19(2), 117–137.
Nejat, P., Jomehzadeh, F., Taheri, M. M., Gohari, M., & Abd. Majid, M. Z. (2015). A global review of energy consumption, CO2 emissions and policy in the residential sector (with an overview of the top ten CO2 emitting countries). Renewable and Sustainable Energy Reviews, 43, 843–862.
Nurick, S., Jeune, K., Le Dawber, E., Flowers, R., & Wilkinson, J. (2015). Incorporating GBFIs into Commercial Property Valuation. Journal of Sustainable Real Estate, 7(1), 21–40.
Pitts, J., & Jackson, T. O. (2008). Green Buildings?: Valuation Issues and Perspectives. The Appraisal Journal, 76(2), 115.
Razali, M. N., & Adnan, M. Y. (2015). Sustainable property development by Malaysian property companies. Property Management, 33(5), 451–477.
Report of the World Commission on Environment and Development: Our common future (1987)
RICS. (2011). Sustainability and residential property valuation Sustainability and residential property.
Sabu, R., Ahmad, H., & Abdullah, L. (2016). Valuer’s Perspective on the Implementation of Green Building Development (p. 9). International Real Estate Research and Symposium (IRERS), 2016
Samari, M., Godrati, N., Esmaeilifar, R., Olfat, P., & Shafiei, M. W. (2013).The invest
In-Text Citation: (Abdullah, Rasid, & Mohd, 2018)
To Cite this Article: Abdullah, L., Rasid, W. N. A. W. A., & Mohd, T. (2018). The Role of Valuer in Sustainable Valuation: A Review. International Journal of Academic Research in Business and Social Sciences, 8(2), 725–734.
Copyright: © 2018 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode
