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An Investigation into the Benefits of EDGE Residential Estates in terms of Real-World Savings

Author

Listed:
  • Saul Nurick
  • Isobella van der Merwe
  • Aiden van Wyk

Abstract

The certification of green residential buildings is in its infancy in the South African property market, compared to the commercial property sector. The Green Building Council South Africa (GBCSA) uses EDGE to certify residential buildings. The purpose of the research was to identify if electricity savings in EDGE-certified residential units could be converted into some form of wealth creation. A single case study was analysed comprising an EDGE-certified residential estate containing 503 units in Gauteng, South Africa. A quantitative analysis method was conducted in the form of descriptive statistics, where electricity usage was analysed. The reduced electricity (KWh) usage was converted into a monetary amount (Rands) for one-, two- and three-bedroom units. The electricity savings were invested into either government bonds (risk-free investment), or the property’s mortgage/loan to reduce the repayment period. The duration of the original loan period where no payments were required (due to a reduced payment period) was used to invest the sum of the electricity savings and the notional loan repayments into a fictional balance fund – EDGE Alternative Investment Fund (EDGE AIF). The research found that real-world savings are experienced by property owners, which is critical in developing real estate markets.

Suggested Citation

  • Saul Nurick & Isobella van der Merwe & Aiden van Wyk, 2024. "An Investigation into the Benefits of EDGE Residential Estates in terms of Real-World Savings," AfRES afres2024-031, African Real Estate Society (AfRES).
    • Handle: RePEc:afr:wpaper:afres2024-031
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    More about this item

    Keywords

    EDGE; Green Buildings; real-world savings (RWS); Residential; wealth creation;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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