DOES PROXIMITY TO A GOLF COURSE MATTER?

Kwame Owusu-Edusei and Molly Espey

No 18812, Working Papers from Clemson University, Department of Agricultural and Applied Economics

Abstract: 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.

Keywords: Land; Economics/Use (search for similar items in EconPapers)
Pages: 11
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ags:cuaewp:18812

DOI: 10.22004/ag.econ.18812

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