Club Good Influence on Residential Transaction Prices

We examine residential real estate transactions in a market where an additional property right to a club good may have an influence on prices. We find that for single-family property, the market capitalizes approximately 50 percent of the full value of the extra property right. For condominiums, the amount reduces to approximately 25 percent. While these amounts are positive, they clearly are significantly lower than full value.

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Year of publication:	2012
Authors:	Hansz, J. Andrew ; Hayunga, Darren K.
Published in:	Journal of Real Estate Research. - American Real Estate Society. - Vol. 34.2012, 4, p. 549-576
Publisher:	American Real Estate Society

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Extent:	application/pdf
Type of publication:	Article
Notes:	Published
Classification:	L85 - Real Estate Services
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010939239