Document Type

Article

Publication Date

2012

Publication Title

Journal of Real Estate Research

Volume

34

Issue

4

Pages

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.

Comments

Posted with the permission of the publisher.

Original Publication Citation

Hansz, J. A., & Hayunga, D. K. (2012). Club good influence on residential transaction prices. Journal of Real Estate Research, 34(4), 549-576.

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