This paper estimates the extent to which energy efficiency (as measured by the energy efficiency labels) is capitalized into house prices at the provincial level by using a large dataset of sales listings published on the Immobiliare.it platform.
The analysis shows that, all other things being equal, the asking price of houses in the four most energy-efficient categories is on average about 25 per cent higher than that of houses in the tenth category, i.e. the least energy efficient. However, the price difference varies widely among provinces, probably due to differences in climatic conditions and in regional regulatory frameworks for the energy efficiency of buildings.
