The Rate of Green Concept Application in a House Design and Its

Impact on Market Value

Shasya Agita Elizabeth

*, Khaira Amalia Fachrudin

, Dwira Nirfalini Aulia

Magister Manajemen Properti dan Penilaian, Sekolah Pascasarjana, Universitas Sumatera Utara, Medan, Indonesia

Faculty Economic and Business, Universitas Sumatera Utara, Medan, Indonesia

Departement of Architecture, Faculty of Engineering, Universitas Sumatera Utara, Medan, Indonesia

Keywords: Green Concept, House Design, Market Value.

Abstract: The green architecture concept is the solution for environmental problems in this present time. However,

there are still few houses that apply the green concept in North Sumatera, either inside or outside the

housing estate. This study aims to analyze the rate of green concept application in a house design and its

impact on the market value. The research is conducted using a purposive sampling method with four

independent variables (the use of eco-friendly materials, energy efficiency, water conservation, and the use

of renewable energy), and three controlling variables (land area, building area, and position) by distributing

50 questionnaires to the residents of Citraland Bagya City housing estate. The findings show that the rate of

green concept used in the house design in the study area is low, that is evident in the significance value of

each variable which is higher than alpha. Furthermore, there is an implication that market value of a

property nowadays has not been affected by green concept application due to people lack understanding and

awareness of the importance of the green concept, which makes appraisers hard to have comparable market

data while assessing the value of a property that applies the green concept.

1 INTRODUCTION

House is the primary need for every people. It serves

as a residence, shelter, investment, and even

representation of a family's social identity (Aulia &

Bahri, 2012).

Global warming that is worsening the earth

condition nowadays force people to be more

concerned in save the environment in various

aspects of life – in attitude, behavior, lifestyle,

systems in the building – for they contribute to

climate change. The concept of the eco-friendly

house, such as green architecture concept, then

becomes a solution to solve this problem (Tan,

2013). This solution could work by reducing the

consumption of energy resources and greenhouse

gas emissions (Popescu et al., 2009). Furthermore,

Fachrudin said that in the financial aspect, the

implementation of sustainable design also could

optimize the operational cost and increase the value

of the building (Fachrudin and Fachrudin, 2015).

Along with the increasing need for property

valuation, appraisers must follow up the growth of

building technology either. This will lead appraiser

to include the sustainable design factor as an

adjustment factor in valuation process.

In Medan City, green concept application has not

widely known, shown by there are still a few houses

that apply the green concept, either inside or outside

a housing estate. Moreover, most people still assume

that green concept is only about the color applied in

the house or plantation of trees around the house

(Fachrudin and Fachrudin, 2017).

Therefore, it is essential to examine the rate of

green concept application in a house design and its

impact on market value, so that in the future,

ordinary people, developers, and appraisers will not

make mistakes again in determining the selling

price, buying price, and market value of a property

that apply the green concept. This research aims to:

(1) analyze the rate of eco-friendly materials use in a

house design and its impact on market value; (2)

analyze the rate of energy efficiency application in a

house design and its impact on market value; (3)

analyze the rate of water conservation application in

a house design and its impact on market value; (4)

analyze the rate of renewable energy use in a house

design and its impact on market value. Furthermore,

Agita Elizabeth, S., Fachrudin, K. and Nirfalini Aulia, D.

The Rate of Green Concept Application in a House Design and Its Impact on Market Value.

DOI: 10.5220/0009903600002480

In Proceedings of the International Conference on Natural Resources and Sustainable Development (ICNRSD 2018), pages 393-400

ISBN: 978-989-758-543-2

393

this study expects to enrich people knowledge of

sustainable design issue, so that in the future time it

can be implemented in the development of

environmentally friendly property in Indonesia.

2 LITERATURE REVIEW

2.1 Green Building

Green architecture concept is the solution of the

environmental problems in this present time. As the

criteria of green building in Indonesia, the architect

must consider the sustainability of the building

aspect to the tropical climate and high humidity

(Aulia et al., 2017). Green building is a building that

in design, construction, and operation, reduces the

negative impacts, and gives the positive impacts on

the climate and natural environment

(http://www.worldgbc.org/what-green-building

accessed on 29 March 2017). Another definition,

Olgyay and Herd (2004) said that green building is

an application of applied ecology, in which the

architect understands the constitution, organization,

ecosystem structure, and architectural impact from

an environmental perspective.

Azizi and Wilkinson (2015) said that the green

building occupants have a better energy-saving

attitude than those who live in a conventional

building. Even the World Green Building Council

(WGBC) states that buildings that apply the green

concept take part in the preservation of natural

resources and improve the quality of life

(http://www.worldgbc.org/what-green-building).

Ali and Nsairat (2009) classify three dimensions

of green building: (1) environmental aspect, which

consists of site selection, energy, water, resources

materials, components, environmental circulation,

transportation, emission, and waste; (2) social

aspect, which consists of comfort, health and

environmental quality, access to facilities,

participation, education control, and security; (3)

economic aspect, which consists of efficiency,

running cost, capital cost, operational cost,

endurance, adaptability, and maintenance.

2.2 Valuation

Valuation is one of the service sectors that play a

role to determine the economic value of someone

assets (Djati et al., 2016). Based on Act No. 101 in

2014 about the Public Appraiser from Ministry of

Finance, valuation is a process to provide a written

opinion on the economic value of a valuation object

based on SPI (Indonesian Valuation Standard),

where the SPI is the basic guideline that must be

obeyed by every appraiser in conducting the

valuation. A property valuation reflects the value of

the property in the local market of the property

(Leopoldsberger et al., 2011).

There are three types of approaches in property

valuation; market approach, income approach, and

cost approach (Popescu et al., 2009; Laila and

Utomo, 2013; MAPPI, 2015). The most important

thing for appraisers and ordinary people to know is

that the valuation approach is different from the

valuation method (Figure 1).

Figure 1: Valuation Approach and Valuation Method.

Furthermore, there are some adjustment factors that

commonly used to estimate the market value,

namely: (1) physic factor, includes soil structure,

temperature, soil contour, flood-free areas, land area,

building area, design, age of the building, reliability,

position, and orientation (Sutawijaya, 2004; Popescu

et al., 2009; Fahirah et al., 2010; Fahirah, 2011;

Deac, 2014); (2) economic factor, includes supply

and demand, transaction time, price, the rate of

community income, people's purchasing ability,

interest rates, the amount of available land, and land

benefits (Popescu et al., 2009; Fahirah et al., 2010;

Fahirah, 2011; Laila and Utomo, 2013); (3) social

factor, includes population density, education level,

security level, community life pattern, and

prevailing regulations in the region (Fahirah et al.,

2010; Fahirah, 2011); (4) the government factor,

includes the licensing process and taxation (Fahirah,

2011); (5) accessibility factor, includes the

availability of public transportation, road width, road

material, distance to the Central Business District

(CBD), distance to the workplace, and distance to

the educational facilities (Fahirah et al., 2010;

Fahirah, 2011; Laila and Utomo, 2013; Deac, 2014);

(6) availability of facilities, including the availability

of clean water, electricity, telephone network,

educational, religious, health, recreational, shopping,

ICNRSD 2018 - International Conference on Natural Resources and Sustainable Development

394

sports, playground, and amenities (Fahirah et al.,

2010; Deac, 2014).

2.3 Market Value

Market value is an estimation amount of money that

gained from the exchange of an asset or liability, on

the valuation date, between a buyer that interested in

purchasing with a seller that interested in selling, in

a free bonding transaction with a feasible marketing,

in which both parties act on the basis of their

understanding, caution, and without coercion

(MAPPI, 2015).

The market value of a property is an

accumulation of the land market value and the

building market value. The land market value is

obtained from the calculation using the comparison

market data method. Then the building market value

is derived from the reduction of the Reproduction

Cost New (RCN) by building depreciation at the

valuation date (Sutawijaya, 2004). The calculation

of the building RCN can use the BTB MAPPI

(Building Technical Cost Method issued by the

Society of Indonesian Appraiser).

In general, the three factors that affect the market

value are the age of the building, location, and

developer's credibility. The age of the building has

an impact in which the newer the building is built,

the more possible it uses the latest materials and

technology. Thus, the extent of damage to the

building is low, so that the market value of the

building can be higher than that the older buildings

(Popescu et al., 2009; Fahirah et al., 2010). Location

is considered because a property that located in a

strategic location, near the CBD and public facilities,

will have a higher value than similar properties

located in a quieter location (Popescu et al., 2009;

Laila and Utomo, 2013; Deac, 2014). Finally, the

developer's credibility is related to the consumer

trust. Due to the economic principle, the high

demand will be in line with higher supply. So this

will also have an impact on the increased value, for

similar properties, in the same area but developed by

different developer (Yudi, 2015).

2.4 Green Design in Valuation

There are various criteria of green property

valuation. WGBC classifies the criteria into

efficiency in energy consumption, water

conservation, and other renewable resources

(http://www.worldgbc.org/what-green-building).

According to Greenship Homes, the green criteria

are the appropriate site development, energy

efficiency and conservation, water conservation,

material resources, indoor health and comfort,

building and environment management (AAPI &

Wilkinson, 2006). Then, AAPI and Wilkinson

classify the green criteria into energy conservation,

water conservation, material selection, use of

renewable materials, environmental quality in

buildings and the occupants' health, construction

processes that minimize energy use, site ecology,

and recycling systems (AAPI and Wilkinson, 2006).

The methodology for green property valuation is

building requirements in energy, energy prices, and

inflation (Popescu et al., 2009).

Sustainability in real estate valuation is an

attempt to identify, avoid, minimize, and mitigate

current or future losses in the social, environmental,

and economic impacts. Green features that increase

the market value in a particular location can not

apply equally elsewhere, due to geographical

differences as well as other sustainability issues

(Runde and Thyore, 2010).

2.5 The Use of Eco-Friendly Materials

The use of eco-friendly materials will decrease the

litigation risk. Moreover, this can also impact to

construction quality and regular maintenance, so that

the market response to the risk reduction will have

an impact on increasing the value of the property

(Fachrudin & Fachrudin, 2017). Furthermore, the

uses of eco-friendly materials also influence the

RCN, which will have a direct impact on increasing

market value as well (Runde & Thyore, 2010).

Green Building Council Indonesia classify some

criteria about the use of eco-friendly materials which

are the primary refrigerant, the use of used material,

the use of refrigerant without ODP, the use of

certified wood, the use of prefabricated material, and

local material (Green Building Council Indonesia,

2013). There are some examples of the use of used

materials, such as Ridwan Kamil Bottle House (in

which the wall is made from used bottles), roof

garden, and wall coverings that can absorb solar

heat.

2.6 Energy Efficiency

Energy efficiency is related to reducing the number

of energy use, especially for non-renewable

resources and greenhouse gas emissions concerning

contribution to global warming (Reed & Wilkinson,

2006). The rate of energy use is directly in line with

the amount of operational costs, and inversely with

the Net Operating Income (NOI). The higher the rate

The Rate of Green Concept Application in a House Design and Its Impact on Market Value

395

of energy consumption, the higher the operational

costs and the lower the NOI will be. In this case, the

rate of energy efficiency becomes the parameter

(Runde and Thyore, 2010). The implications of

energy efficiency are in operational costs,

capitalization or discount rate, and projected lease in

discounted cash flow analysis (Fachrudin and

Fachrudin, 2017).

A building with excellent design is possible to

apply the reducing of energy use in the building.

Some examples of energy-efficiency action are

reducing the electricity usage for beauty purpose,

replacing inefficient equipment, and regulating the

time of use of electrical equipment (Lubis, 2007).

Then, the use of energy-saving household, energy-

saving lighting (artificial or natural day lighting),

design strategy (orientation of buildings to minimize

daylight heat), and the application of the latest

technology (AAPI and Wilkinson, 2006). A

sufficient number of windows and vents also affect

the air circulation in the room that can minimize the

use of AC (Green Building Council Indonesia,

2013).

2.7 Water Conservation

Population growths, the change of land use, and

incomplete water resource management have

impacts on the degradation of water resources

quality and capacity on earth. Then, the solution for

saving the water resource from running out is by

protecting the water resource itself (Supardi, 2010).

One example of water conservation in a house is the

use of reuse water. Water conservation also includes

the action of minimizing the use of shower,

rainwater storage in the tank, the use of eco WC that

release less water volume, using sensor-based

sanitary equipment, household wastewater recycling,

and chilled beams. The result of the recycling of

wastewater can be used for watering plants or

washing cars (AAPI and Wilkinson, 2006).

In line with AAPI and Wilkinson, GBCI also sets

out several criteria included in water conservation

measures, including water meters, water use

calculations, water use reduction, water recycling,

alternative water sources, rainwater storage and

efficient use of landscaping water (Green Building

Council Indonesia, 2013). The relationship between

water conservation with valuation is that water

conservation will affect the operational cost,

capitalization or discount rate, and projected lease in

discounted cash flow analysis (Fachrudin and

Fachrudin, 2017).

2.8 The Use of Renewable Energy

Energy sources consist of two types; fossil energy

sources and renewable energy sources. Fossil energy

sources consist of petroleum, natural gas, and coal,

while renewable energy sources consist of water

energy, geothermal, wind energy, and solar energy

(Sugiyono, 2016). In households, the use of solar

energy applied in two forms, photovoltaic solar, also

known as the solar cell, that capable of converting

solar energy into electrical energy, and thermal solar

that used as household hot water providers (Lubis,

2007).

2.9 Land Area and Building Area

The larger size of the land area, the higher the

market value of the property will be. In this case, the

larger size of the building area also will gain the

higher the market value of the property (Fahirah et

al., 2010). However, this term could not be the same

in all places, depending on the highest and best use

concept of the neighborhood.

2.10 Position

Position affects the market value, regarding where

the location of the house; whether it is in the middle

position or at the corner (Fahirah et al., 2010). A

house that is at the corner position, of course, has a

higher value, for it has the more accessibility and

facade from the two sides of the road. Besides, a

corner house usually has an excessive land area. In a

housing estate, the position can also be interpreted as

the placement of blocks within the housing estate,

whether in the front, middle or back, from the access

of the main entrance of the housing estate.

3 METHOD

This research is quantitative research. The researcher

applied the purposive sampling method for data

collecting by distributing questionnaires that consist

of close questions for respondents in the study area.

The study area is in Citraland Bagya City housing

estate, and the respondents are the residents of that

housing estate. Among 1.138 built houses, there are

only 98 inhabited houses. To determine the number

of respondents, the researcher uses Slovin Theory,

with a formula:

n =N.

1+Ne

(1)

ICNRSD 2018 - International Conference on Natural Resources and Sustainable Development

396

Where e = error (10%)

N = Population (98)

n = Sample

From the calculation, the result for the number of

sample for this study is 50. The researcher used four

independent variables (the use of eco-friendly

materials, energy efficiency, water conservation, and

the use of renewable energy), and three controlling

variables (land area, building area, and position),

with indicators of each variable as follows (Table 1):

Table 1: Research Variables.

No. Variable Indicator

1 The use of eco-

friendly materials

)

(1). The use of

certified wood

(2). The use of eco-

paint for wall

(3). The use of used/

recycled material

for interior/

exterio

2 Energy efficiency (1). The use of

energy-

savinghousehol

No. Variable Indicator

) (2). The application

of natural

lightingat noon

(i.e., skylight)

3 Water conservation

)

(1). The use of eco

sanitary (i.e.,

shower, urinal,

water flush, WC,

tap water)

(2). The application

of liquid

wastewater

recycling

systems, used for

irrigation,

flushing

4 The use of

renewable energy

)

(1). The use of solar

panel

5 Land area (X

) (1). Land area

6 Buildin

area

(

)

(

)

. Buildin

area

4 RESULTS AND DISCUSSIONS

Citraland Bagya City as the study area is one of

housing estate that located in Deli Serdang District,

North Sumatera. This housing estate planned as a

satellite city that built on 211 Ha lands that divided

into seven housing cluster, one shop house cluster,

one clubhouse, retail, office, and a mall. Reason for

choosing this housing estate as the study area is

because of among the small number of available

green concept houses this concept has ever once

researched. Moreover, Indah, the architect team

leader, said that in this housing estate, is being built

one cluster that will apply the green concept, namely

Electric House.

As the result of the 50 questionnaires distribution

in the study area, there are 76% men and 24%

women aged 41-55-year-old (64%) that become the

respondents. In average, the house is inhabited by

five people (46%), and followed by four people,

more than six people, and three people respectively

(32%, 14%, and 8% respectively).

The researcher uses SPSS to conduct the data

analysis process, by doing validity and reliability

test, which show that all the variables and the

indicators are valid and reliable (r ≥ 0,354 and

Cronbach alpha ≥ 0,7). Then, for the three tests of

classical assumption test – normality test,

multicollinearity test, and heteroscedasticity test –

all the variables also pass the test. The last test in

this research is the goodness of fit test, which

includes F-Test and T-Test.

F test is used to test the influence of the

independent variable on the dependent variable. If

the independent variable has a significant influence

on the dependent variable, then the regression

equation model is categorized as fit. The criterion is

H accepted if F

count

≤ F

table

. From the result of F-Test

on this research variable, it is known that F

table

value

is 16,485. With df regression = 2 and df total = 49,

the value of F

count

is 2.203. Since F

count

table

, then

this regression equation model is declared fit. Then,

T-Test indicator in this research is that a variable is

said to affect if significance < alpha. It is shown that

only land area and building area that has

significance < alpha, with the amount of 0,00, while

the other indicators have significance > alpha (Table

2).

The Rate of Green Concept Application in a House Design and Its Impact on Market Value

397

Table 2: Result of T-Test.

Model

UnstdCoef. StdCoef.

t Sig.

Collinearity

Statistics

B Std. Error Beta Tol. VIF

1 (Constant) -,443 1,389 -,319 ,751

The use of eco-friendly

materials(X

)

,039 ,060 ,059 ,654 ,517 ,789 1,268

Ener

Efficienc

) -,004 ,032 -,013 -,126 ,901 ,598 1,671

Water Conservation (X

) -,106 ,090 -,125 -1,170 ,248 ,558 1,791

The use of renewable energy

)

,028 ,234 ,012 ,118 ,906 ,621 1,611

Land area (X

) ,780 ,117 ,630 6,642 ,000 ,707 1,415

Buildin

area (X

) ,478 ,120 ,367 3,999 ,000 ,753 1,328

Position (X

) -,008 ,194 -,005 -,043 ,966 ,554 1,804

a. Dependent Variable:

4.1 The Use of Eco-Friendly Materials

The results of this study show that the rate of eco-

friendly materials application in the study area is

still low. More than 50% of respondents do not use

the eco-friendly materials in their houses, related to

the use of certified wood, eco-paint, and recycled

materials. The T-Test result (Table 2) also shows

that the use of eco-friendly material did not affect

the market value (sig value = 0,517). It is in contrast

to Runde and Thoyre (2010) theory that said the use

of eco-friendly materials would have an impact on

increasing a house RCN that will be in line with the

increase of its market value.

Someone decided to buy or use an eco-friendly

product is closely related to his environmental

concern. In this case, it means that respondents'

awareness in the study area on the environment is

relatively low. With all of their activities, people,

especially in big cities, spend more time outside than

at home. However, as a representation of the social

identity, most people will make the facade and

interior of the house as attractive as possible

regardless of its impact on the environment (Lubis,

2007). It is because of people mindsets who think

that "the expensive is the best" (Junaedi, 2005).

4.2 Energy Efficiency

The results of this study show that the respondents'

awareness in applying energy efficiency in their

homes is quite good in some aspects (use of energy-

saving household and the use of LED lights), and

still quite low in some other aspects (natural lighting

and natural cooling). Their environmental concerns

and future projection considerations make them start

using energy-saving households and LED lights.

However, the need of recognition (social

representation) and less favorable climatic

conditions also make them rely on artificial lighting

and artificial cooling.

Runde and Thoyre (2010) said that the rate of the

energy use is inversely related to NOI. In market

value formula, market value is NOI divided by

capitalization rates; it is known that NOI is in line

with market value. It can be concluded that the use

of energy affects the market value. However, the

results obtain that the rate of energy efficiency

application does not affect the market value.

However, in fact, with the less energy consumption

in a house, it will not only be an added value of the

house but also give a positive impact to the

environment (Fachrudin & Fachrudin, 2015). But

the T-test results (Table 2) show that the application

of energy efficiency was not significantly affect the

market value (sig value = 0,901).

In this case, the fixture and furniture of the house

were also the determining factors. Therefore, most

of the middle up class houses in North Sumatera

must have already had AC and luxurious interior and

furniture that no longer prioritize the use of natural

cooling and natural lighting as one form of energy

efficiency.

4.3 Water Conservation

The results of this study show that the rate of water

conservation application in the study area is still

low. There are only 16% of respondents that use

eco-sanitary equipment in their houses, and even

only 2% that apply water recycling systems for

secondary needs. The lack of public awareness and

understanding are the primary cause of the less

application of water conservation in the study area.

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398

T-test results in Table 2 also show that the

application of water conservation was not

significantly affect the market value (sig value =

0,248). It is in contrast to Fachrudin and Fachrudin

(2017) theory that said water conservation would

affect the rate of capitalization, discount rate, and

market value of a property.

4.4 The Use of Renewable Energy

The results of this study show that the use of

renewable energy does not significantly affect the

market value of houses that apply the green concept

(sig value = 0,906). This fact is inseparable from the

people introduction and awareness of the importance

of renewable energy in a household. The significant

initial capital is the primary considerations that make

someone prefer not to use the renewable energy. No

wonder if in the study area, there is no house use

solar panel.

4.5 Land Area

The results of this study show that the land area has

a significant effect on the market value of a house

(sig value = 0; less than alpha). It is in line with

Fahirah et al. (2010) theory that said the land area

affects the market value of a property. In fact, in

valuation practice itself, land area is also become

one of the adjustment factors in determining the

market value of an object. The land areas that fulfill

the HBU concept will be an addition to the market

value of the property.

4.6 Building Area

The results of this study show that the building area

has a significant effect on the market value of a

house (sig value = 0; less than alpha). It is in line

with Fahirah et al. (2010) theory that said the

building area affects the market value of a property.

In fact, in valuation practice, building area is one of

the adjustment factors in determining the market

value of an object. In the same neighborhood, for the

similar land area, a larger building area obviously

will have a higher market value.

4.7 Position

The results of this study show that position does not

affect the market value of a house (sig value =

0,966). It is in contrast with Fahirah et al. theory

(2010) that position affects the market value of a

property. In fact, a house located in a more strategic

position would have a higher market value than a

house located in a non-strategic position. In the

study area, position factor does not affect the market

value, because the credibility of the developer that

built this housing estate is good enough. So that the

consumer assumes anywhere of position in this

housing estate is just the same, and they only need to

consider the land area, building area, and design that

suitable to their taste and budget.

As a summary, the rate of green concept

application in the design of the house in the study

area is still low, and the result of the variable test

shows that the application of green concept does not

affect the market value. Among the adjustment

factors commonly used in valuation practice, three

of them that researchers use as control variables –

land area, building area, and position – it is only

position that does not affect market value, while land

area and building area affect the market value.

Besides, other things that affect the market value of

a house, in general, is the age of the building, the

location of a strategic object, and the credibility of

the developer (Popescu et al., 2009; Fahirah et al.,

2010; Laila & Utomo, 2013; Deac, 2014). These

factors are seen when houses in Citraland Bagya

City compared with nearby housing estate (Veteran

Housing Estate and TVRI Housing estate), with the

age of older buildings, the land market value in

Citraland Bagya City is higher than the two other

housing estates. Concerning location, Citraland

Bagya City housing estate is also categorized more

strategic and more accessible when compared with

the other two housing estates. Last, the developer

credibility, Citraland Bagya City housing estate is

developed by a well-known developer, namely

Ciputra. The influence of this developer credibility

influences the increase of market value in the area,

where for the houses in those two other housing

estate that used to develop by a non-well-known

developer have a lower land market value than those

in Citraland Bagya City housing estate.

5 CONCLUSIONS

The conclusions of this research are: (1) The rate of

eco-friendly materials use in the study area is low

and has no significant effect on the market value; (2)

The rate of energy efficiency application in the study

area is low and has no significant effect to the

market value; (3) The rate of water conservation

application in the study area is low and has no

significant effect to the market value; (4) The rate of

renewable energy use in the study area is low and

The Rate of Green Concept Application in a House Design and Its Impact on Market Value

399

has no significant effect to the market value; (5) In

line with common valuation process, in which land

area and building area are included in adjustment

factors that affect the market value of a property,

this research result also shown that those two factors

significantly affect the market value; (6) Although

position is one of the adjustment factors in valuation

that affect the market value, the result of this

research shown that position has no significant effect

to market value. All of these conclusions bring the

fact that the market value of property nowadays has

not been affected by green concept application due

to people lack understanding and awareness of the

importance of the green concept.

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