DOES PROXIMITY TO A GOLF COURSE MATTER?
In this study, we augment an earlier study by estimating the effect of golf courses on housing values using a data set of single-family homes sold between 1994 and 2000. We find that there is generally a positive impact on houses proximate to open space (golf courses and neighborhood parks). The value of proximity to a golf course is found to be greater than figures reported in previous studies. Proximity impacts extend beyond abutting properties and go as far as to those within almost a quarter of a mile. The value of properties proximate to parks is found to be significant and varies with park size and type. Parks classified as small and medium had positive impacts extending over a quarter of a mile with the small parks having the greatest impact on the value of properties.
Year of publication: |
2003
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Authors: | Owusu-Edusei, Kwame ; Espey, Molly |
Institutions: | Department of Agricultural and Applied Economics, Clemson University |
Keywords: | Land Economics/Use |
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