Title: The value of a property in a sustainable future - A qualitative study on how the role of environmental adaptation is perceived to affect the value of a property

Author: Sara Thuresson

Published: 2025-05-20 

Supervisor: Michal Lysek 

Background: Sustainability issues have gained increasing importance in the construction and real estate sectors in recent decades. Traditionally, property valuation has been based on factors such as location and market conditions, but is now being challenged by new demands such as including environmental factors in property value through material selection, sustainability certifications and energy efficiency. Despite the increased awareness of sustainability issues, there is limited research on how it is perceived to affect the value of a property, which justifies an in-depth study of the area.

Purpose: The purpose of this study is to investigate how environmental adaptations are perceived to affect property value in the long term. The study also aims to develop a model that shows how environmental adaptations are perceived to affect property value.

Research question: How do sustainability adaptations, such as energy efficiency, environmental certifications and environmentally friendly building materials, affect property values ​​in the long term?

Methodology: The study has been conducted with a qualitative research approach based on a deductive methodology. Data collection has been carried out with semi-structured interviews with five respondents, professionals in the construction and real estate sector. The study has studied the empirical material using thematic analysis and interpreted from a hermeneutic perspective.

Conclusions: The study's results show that sustainability adaptations have a positive impact on a property's market value. Reduced operating costs and sustainability certifications such as Miljöbyggnad, Svanen and LEED lead to an increased attractiveness of properties. At the same time, it is clear that the integration of sustainability criteria is still fragmented and the construction and property sector is calling for clearer standards and guidelines.

Keywords: Sustainability, property valuation, construction and real estate sector, real estate economics, market value