Strategies for potential owners in Singapore to own environmentally sustainable homes

Abstract

PurposeWith global climate change, it is increasingly necessary to develop the built environment in an environmentally sustainable way. The aim of this study is to investigate the strategies that are needed to enable potential owners to own environmentally sustainable homes. The specific objectives are to: determine the extent to which potential homeowners are willing to pay for homes that are environmentally sustainable; uncover the green features that potential homeowners are willing to pay for; and provide recommendations on how more green features can be incorporated in homes.Design/methodology/approachThe survey research method was adopted and data were collected using a specially designed structured questionnaire. Self‐administered questionnaires were distributed to randomly selected potential homeowners in Singapore.FindingsBased on the data received, the findings show that the majority of the respondents are willing to pay more to own an environmentally green building. However, they are very price sensitive and only willing to pay 1 percent more in upfront costs.Practical implicationsThe study found that the green features that potential homeowners are willing to pay relates to siting for natural ventilation, provision of greenery, and water conservation. It is concluded that the extent to which homeowners are willing to pay higher upfront costs is limited.Originality/valueThe research provides several recommendations on how to enable more green features to be incorporated to homes owned by price sensitive individuals.