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Beach Re-nourishment and Property Value Growth: The Case of Folly Beach, South Carolina

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Author Info

  • Blackwell, Calvin

    (College of Charleston)

  • Sheldon, Susannah

    (South Carolina Sea Grant Consortium)

  • Lansbury, David

    (Metropolitan Commercial Valuations)

  • Vaught, Dyanne

    (College of Charleston)

Abstract

Numerous studies using a variety of methods suggest that beach re-nourishment generates benefits to both recreational users and property owners. However, the only study to use a repeat sales index (Cordes, Gatlaff and Yezer, 2001) found no effect of re-nourishment on property values. We use a repeat sales index to investigate the effects of the Army Corps of Engineers' re-nourishment of Folly Beach, South Carolina. We find that this re-nourishment has maintained property values' rates of appreciation when compared with real estate values in a similar real estate market, the Isle of Palms, South Carolina.

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Bibliographic Info

Article provided by Southern Regional Science Association in its journal Review of Regional Studies.

Volume (Year): 40 (2010)
Issue (Month): 3 ()
Pages: 273-286

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Handle: RePEc:rre:publsh:v:40:y:2010:i:3:p:273-286

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Web page: http://www.srsa.org

Related research

Keywords: Beach Renourishment; Repeat Sales; Property Value;

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Cited by:
  1. Jerome Massiani, 2013. "How to Value the Benefits of a Recreational Area? A Cost-Benefit Analysis of the Conversion of a Brownfield to a Public Beach in Muggia (Italy)," Review of Economic Analysis, Rimini Centre for Economic Analysis, vol. 5(1), pages 86-102, June.

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