Investing in Sustainable Built Environments: The Willingness to Pay for Green Roofs and Green Walls
1
CERIS, Instituto Superior Técnico, University of Lisbon, 1049-001 Lisbon, Portugal
2
CERIS, Department of Civil Engineering and Architecture and Georesources, Instituto Superior Técnico, University of Lisbon, 1049-001 Lisbon, Portugal
3
Instituto Superior Técnico, University of Lisbon, 1049-001 Lisbon, Portugal
*
Author to whom correspondence should be addressed.
Sustainability 2020, 12(8), 3210; https://doi.org/10.3390/su12083210
Received: 28 March 2020 / Revised: 9 April 2020 / Accepted: 13 April 2020 / Published: 16 April 2020
(This article belongs to the Section Economic and Business Aspects of Sustainability)
Green infrastructure, such as green roofs/walls, plays a key role in addressing urban problems. Despite the well-established sustainable mentality, aspects such as aesthetics, recreation, and welfare are still the main drivers for undertaking such investments. Several studies have focused on proving the benefits of green infrastructure, namely, thermal insulation, air quality, and others. However, significant soft benefits have not yet been properly addressed. It is, therefore, important to understand how much citizens are willing to invest in those mitigating measures and list the aspects that influence that value. This study suggests a methodology based on stated preferences to evaluate the willingness-to-pay of owner/tenants for green roofs/walls in residential buildings and determine the influence of multiple factors. Results show that consumers reveal higher willingness-to-pay for accessible green roofs. Knowledge of benefits and the accessibility of green roofs have a great impact on the willingness-to-pay. Recreation benefit is at the forefront of individuals’ concerns; even more than aesthetics.
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Keywords:
green infrastructure; sustainable built environment; willingness-to-pay; stated preferences; residential buildings; Portugal
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MDPI and ACS Style
Teotónio, I.; Oliveira Cruz, C.; Matos Silva, C.; Morais, J. Investing in Sustainable Built Environments: The Willingness to Pay for Green Roofs and Green Walls. Sustainability 2020, 12, 3210.
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