Club Good Influence on Residential Transaction Prices

J. Andrew Hansz and Darren Hayunga

Journal of Real Estate Research, 2012, vol. 34, issue 4, 549-576

Abstract: 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% of the full value of the extra property right. For condominiums, the amount reduces to approximately 25%. While these amounts are positive, they clearly are significantly lower than full value.

Date: 2012
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DOI: 10.1080/10835547.2012.12091343

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