Indoor Air Quality and Office Property Value

Abstract

Urbanization and technological advancement have resulted in many urbanites working in window-sealed high-rise office buildings. Many researchers have found that indoor air quality (IAQ) affects tenantlandlord relationships, workers’ health and productivity, and building elements and systems. This may imply that IAQ could affect, positively or negatively, the value of buildings. This paper examines the impact of IAQ on the value of office buildings in Singapore. The results show that the return on investment in IAQ could be substantial (78.56%) while property values could increase by 1.28% to 3.85%. The findings could be of interest and usefulness to valuers and investors in office properties in Singapore and thus, help to promote sustainability in office property developments.