In terms of climate change mitigation, the response of the property sector is apparent by the diffusion of green buildings. Hence, it is necessary to analyse its diffusion pattern in order to identify the current stage of adoption. By now, the focus of the green building diffusion literature lies more on the temporal than on the spatial dimension. As one might assume a CSR and image driven demand of international institutional investors for green buildings, this paper contributes to answering the question, if certificates exclusively are a product for prime locations.