Press release

CBRE Report Reveals Sustainability Certifications Increase Office Building Market Value

Global real estate advisor CBRE has released the third edition of their impactful research report, 'Is Sustainability Certification in Real Estate Worth it?'.

November 30, 2023

Associated Contact

Marie Koefoed Agerskov

Communications Specialist

Photo of marie-koefoed-agerskov

The report covers insights into the relationship between sustainability and property value, with a focus on the office sector. It explores the role of sustainability certifications in value creation and preparing the office sector for a sustainable future.

Key findings:

  • The share of certified office properties in the analysed markets increased from 15% in 2019 to 22% in H1 2023.
  • Certified office take-up has grown from 31% in 2019 to 34% in H1 2023, underlining the importance of sustainability in building selection.
  • While certification can lower vacancy risks, balancing location preferences with sustainability remains a challenge.
  • Buildings with sustainability certifications command a 7% rental premium after adjusting for building size, location, age, and renovation history.
  • Assets with lower EPC ratings generate lower rental levels, indicating the importance of energy efficiency

The report confirms a significant correlation between sustainability certificates, higher energy performance, and office building market value. It shows that in the future, certification standards are likely to evolve further. Equally, legislation regarding energy performance standards will become more stringent. As a result, in buildings with high sustainability standards, cash flow parameters such as rental growth rate, occupancy ratio, depreciation, and yield may benefit.

The report covers 19 European countries and 40 cities. CBRE studied 19,400 lease agreements – of which 6,100 leases occurred in certified buildings and 13,300 leases occurred in non-certified buildings.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at