Abstract
Purpose
The purpose of this paper is to provide an update on how the 2018 energy efficiency legislation in the UK, Minimum Energy Efficiency Standards (MEES), is impacting upon the UK market with a particular emphasis on the investment market.
Design/methodology/approach
This practice briefing is an overview of the 2018 legislation and comments on how market awareness has changed since its introduction and the potential impact upon prices of affected properties moving forward.
Findings
This paper discusses how capital and rental values are beginning to be discounted in the market to allow for current and future liabilities under the MEES legislation. This has a significant impact on strategies for property investment.
Practical implications
The role of the property professional is to ensure that clients are fully conversant with their statutory obligations and to advise on appropriate investment strategies to optimise their property portfolios.
Originality/value
This paper provides insights on the requirements of MEES legislation to aid the property professional.
Subject
General Economics, Econometrics and Finance,Finance,General Business, Management and Accounting,General Economics, Econometrics and Finance,Finance,General Business, Management and Accounting
Reference7 articles.
1. Alker, J. (2016), “2015 Energy Efficiency Regulations – a real game changer for the property sector”, Energy World Magazine, UK Energy, London.
2. Property valuation in the UK: energy efficiency legislation and its impact on valuation;Journal of Property Investment & Finance,2018
3. National contributions to observed global warming;Environmental Research Letters,2013
4. Minimum Energy Efficiency Standards (MEES): impact on UK property management and valuation;RICS,2018
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