Historic façade easements and single‐family home value: a case study of Savannah, Georgia (USA)

Kimberly Winson‐Geideman and Dawn Jourdan

International Journal of Housing Markets and Analysis, 2011, vol. 4, issue 1, 6-17

Abstract: Purpose - Several pending court cases regarding the valuation of historic façade easements and the associated tax credit have generated interest in the valuation of such preservation tools. The purpose of this paper is to assess the impact of façade easements on the value of single‐family home sales. Design/methodology/approach - The hedonic method, initially applied to real estate economics by Rosen in 1974, is used to analyze the data. Findings - Results contradict established theory and research on other property types, showing no observable impact. Research limitations/implications - The paper is limited to a single historic district in the USA, though it is the largest and arguably one of the most important. Facade easements, however, are used in many cities, making the study relevant in other geographic areas. Originality/value - Little empirical work has been conducted on façade easements, and none in the context of single‐family homes, making this research an important contribution to real estate valuation literature.

Keywords: Building conservation; Property; Property law; Facades; Real estate; United States of America (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:v:4:y:2011:i:1:p:6-17

DOI: 10.1108/17538271111111802

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