The main objective of the study was to investigate the effect of green features on residential property price. The study used two cases to empirically investigate this issue. The empirical results suggest that a residential building having HK-BEAM certification or HK-GBC award increases the property price by 3.46 percent and 6.61 percent in case 1 and case 2, respectively. The results imply that buyers are willing to pay a premium for residential buildings certified by quality standard green building certifications. For example, one is willing to pay HK$138,400 (case 1) and HK$265,600 (case 2) more on a property for green features, which otherwise costs HK$4 million.