MARKET READINESS AND POLICY IMPLICATIONS FOR GREEN BUILDINGS: CASE STUDY FROM HONG KONG

This study is to assess developers' market readiness to green construction including their ideas on green construction, their understanding of current green building policies, their awareness and familiarity with green building and related industries, and the barriers they are facing for implementing green building projects. By eleven face-to-face semi-structured interviews with locally-based developers, the study finds that the Green Building Market in Hong Kong is basically ready in technology level. However, the motivation for green development is confined to commercial buildings for lease. Legislation is agreed by developers as an effective motivator to green building development. An effective mechanism to provide incentives for market players to adopt green voluntarily is explored in this paper. Expedited permits and density bonus are thought to be major incentives.