The valuation of residential real estate properties requires the incorporation of both explicit and implicit attributes of the property. The value associated with an attribute reflects the buyer’s preferences and market conditions. Given that sunlight is valued for its contributions to well- being, energy efficiency, and overall living comfort within indoor residential spaces, the valuation of sunlight exposure is found to be underexplored, especially in the context of Central Europe. While studies from other geographical regions have highlighted the role of sunlight in property valuation, these remain limited due to some methodological constraints. In this thesis, the limitations are addressed by employing high-resolution, façade-level sunlight autonomy metrics computed using a newly developed methodology that accounts for the thresholds defined by EN 17037 - European standard: Daylight in Buildings. The real estate dataset is integrated with GIS-derived accessibility metrics and simulated sunlight data. It employs a semi-log hedonic pricing model to estimate the marginal willingness-to-pay for sunlight exposure, while controlling for structural, locational, and neighbourhood characteristics. The findings of this thesis demonstrate that while an increase in sunlight is positively associated with price premiums in the case of south-facing façades. However, other orientations depict different patterns of association. Hence, this thesis underscores that the orientation-specific exposure and solar success thresholds also play a significant role in determining the marginal willingness-to-pay for sunlight. Moreover, this thesis acknowledges the current limitations faced and serves as a methodological framework for future research, which could be relevant for urban planners, real estate developers, and could aid in future policy-making decisions.     «

The valuation of residential real estate properties requires the incorporation of both explicit and implicit attributes of the property. The value associated with an attribute reflects the buyer’s preferences and market conditions. Given that sunlight is valued for its contributions to well- being, energy efficiency, and overall living comfort within indoor residential spaces, the valuation of sunlight exposure is found to be underexplored, especially in the context of Central Europe. While...     »