My house is green! Marketing a house as green

The green trend, which addresses environmental issues through changes in services, product design, and innovation, is receiving increasing attention from consumers, organizations, industries, and governments around the world. This paper investigates the green trend in the property sector. Green building, also known as sustainable building, includes the planning, building and maintenance of a structure. The authors examine whether marketing a building as using green building elements is advantageous. Are consumers willing to pay more to live in a “green building”? How long does it take the organization to sell units in a “green building” compared to units using conventional building techniques? The authors collected data of apartment buildings and found that consumers are not willing to pay a higher price for green housing units, but that green housing units sell at a much faster pace. It took half the time to sell a housing unit with green building elements. In today’s volatile time with mortgage concerns, and the apparent instability in the housing industry, this result is of significant importance.