Conservation Status and Residential Transaction Prices: Initial Evidence from Dallas, Texas
AbstractThe traditional mechanisms of private covenants and public restrictions may not meet the needs of residential property owners who want to preserve a certain neighborhood style. Privately initiated and publicly enforced conservation district regulations can preserve desirable neighborhood characteristics and signal to buyers that neighborhood conformity will likely persist. We analyze residential transaction prices in Dallas, Texas and find premiums associated with residential properties within and buffering conservation district locations. These results are robust to the spatial autocorrelation common in residential transaction prices.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal journal of Real Estate Research.
Volume (Year): 30 (2008)
Issue (Month): 2 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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