Impact of Innovation and Indoor Environment Quality Features on

  IMPACT OF INNOVATION AND INDOOR ENVIRONMENT QUALITY FEATURES ON PROPERTY PRICE OF CONDOMINIUM UNITS IN SENTUL, KUALA LUMPUR

Professor Dr. Megat Mohd Ghazali Megat Abdul Rahman (Leader)

Dr. Khadijah Husin

Dr. Robiah Suratman

Dr. Mohd Nadzry Jaafar

Universiti Teknologi Malaysia (UTM)

ABSTRACT

Green building concept, a trend in developed nations, has spread to Malaysia. The green features improve the functions of buildings and promises higher returns. Indoor environmental quality (IEQ) and Innovation (IN) are among six criteria of Green Building Index (GBI) that building owner needs to attain for its building to be certified as 'green' in Malaysia. The benefit of IEQ is to create conducive indoor environment for building occupants for living and working. While IN is to meet the objectives of GBI through green building design initiatives and sustainable construction practices. The research question is does IEQ and IN features give direct impact to residential property price? Therefore, this paper will review the broad literature regarding the impacts of indoor environmental quality (IEQ) and innovation (IN) for residential property and its implication to market price and rent. The early hypothesis of this paper anticipate that innovation (IN) and indoor  environmetal quality (IEQ) features will indirectly increase residential  property market price and rent in spite  of the lack of comparative  financial data. From this paper,  it is hope that the positive impacts of these features will encourage building owners, developers and other main development actors to put these criteria into the same consideration as other criteria in GBI as one of the way to compensate the impact of the building towards economic, environment and social features.

Keyword: Green Building Index (GBI), green building features, indoor environmental quality, innovation, property price and rental, residential property