Subdivision Specific Amenities and Residential Property Values

Shaikh Mahfuzur Rahman and Ian W. Hardie

No 28596, Working Papers from University of Maryland, Department of Agricultural and Resource Economics

Abstract: A hedonic property value model, derived from a dynamic game theoretic framework, is estimated using data obtained for 211 subdivisions including 4628 building lots in five Maryland counties. Linear Box-Cox estimation results show that variables measuring subdivision specific amenities significantly affect residential property values, and omission of such variables produces biased coefficient estimates.

Keywords: Land Economics/Use; Public Economics (search for similar items in EconPapers)
Pages: 23
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ags:umdrwp:28596

DOI: 10.22004/ag.econ.28596

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