Main title: Improving the market impact of energy
certification by introducing energy efficiency and lifecycle cost into property valuation practice
Acronym: IMMOVALUE
Duration in months: 08/2008 – 03/2010 (20 months)
Agreement number – IEE/07/553/SI2.499204
Date: 8.8.2008
Summary/overview of the project
PROJECT SUMMARY
AB CD
As one of the largest single operating expenses, energy costs are usually an important factor
concerning the overall property Value.
This survey includes:
 Integrate indicators of energy performance of buildings and life-cycle cost results into
property valuation practice
 The solution will be tested in pilot projects and will pass a comprehensive review of
experts
 Results of the proposed action will be disseminated
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Summary/overview of the project
BACKGROUND
AB CD
As one of the largest single operating expenses, energy costs deserve great attention from
banks, valuers, owners and property managers. Looking at income-producing properties,
such costs often represent up to 30% of the net operating income (NOI).
Constantly rising energy prices amplify the need to focus on energy efficiency and a lifecycle perspective of the property in the future.
Energy performance certificates will be available in all European countries and provide
comparable information on the energy performance.
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Summary/overview of the project
OBJECTIVES AND MAIN STEPS
AB CD
Preparing useful guidelines for the daily property valuation business thus ensuring that
energy efficiency and LCC aspects are properly included in the calculations carried out to
derive market values.
Testing the drafted methodologies in pilot projects and getting support from key actors and
decision makers in the real estate business.
Finally communicating and disseminating the project results to the customers of valuers,
which are mostly financial institutions, banks and real estate companies.
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Summary/overview of the project
EXPECTED RESULTS
AB CD
The main output of the proposed actions are guidelines for revised standards of property
valuation integrating energy performance an LCC aspects, which may serve as basis for
further work in the relevant standardisation and training organisations for property
valuation such as RICS, IVSC and TEGoVA.
If energy efficiency and low life-cycle cost are reflected in the building value as a common
practice, in the medium and long run a radical market transformation in the building sector
is expected.
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PARTNERS & CONTACTS
AB CD
COORDINATOR
KPMG Financial Advisory Services GmbH (KPMG FAS GmbH)
Sven Bienert
sbienert@kpmg.at
Kudlichstrasse 41-43, 4020 Linz
AUSTRIA
PROJECT PARTNERS:
Dr Leopoldsberger+Partner
(Germany)
SINTEF
(Norway)
E7
(Austria)
UTI
(Romania)
FH Kufstein
(Austria)
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