This study quantifies the extent to which the energy efficiency of homes affects their price. It analyses data on over one million residential properties sold in Spain between 2015 and 2022. Using a hedonic regression model, it was found that greater energy efficiency increases the price of a home by an average of up to 9.7% compared to less efficient homes. This effect has increased in recent years, particularly for homes with a higher energy efficiency rating. Additionally, the type of home and the heating and cooling needs of the municipality in which it is located influence the impact of energy efficiency on price. Consequently, the degree of energy efficiency has a greater impact on the price of detached single-family homes and those located in areas with greater heating needs.

This study quantifies the extent to which the energy efficiency of homes affects their price. It analyses data on over one million residential properties sold in Spain between 2015 and 2022. Using a hedonic regression model, it was found that greater energy efficiency increases the price of a home by an average of up to 9.7% compared to less efficient homes. This effect has increased in recent years, particularly for homes with a higher energy efficiency rating. Additionally, the type of home and the heating and cooling needs of the municipality in which it is located influence the impact of energy efficiency on price. Consequently, the degree of energy efficiency has a greater impact on the price of detached single-family homes and those located in areas with greater heating needs.