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Impacts of Second Home Development on Housing Prices in the Southern Appalachian Highlands

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  • Seong†Hoon Cho
  • David H. Newman
  • David N. Wear

Abstract

This study estimates the value of socioeconomic, spatial and environmental attributes on housing prices of both urban and rural communities in the primary and second home areas of the Southern Appalachian Highlands, using the hedonic property price model. Distance and environmental attributes are valued more heavily in the rural communities of the second home area than in the urban communities of the primary home area. The effect of second homes on housing prices is mainly evident in the rural communities. Second home development impacts a home's value by US$2,378, or 4.2% of $56,245, the average value of a rural home.

Suggested Citation

  • Seong†Hoon Cho & David H. Newman & David N. Wear, 2003. "Impacts of Second Home Development on Housing Prices in the Southern Appalachian Highlands," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 15(3), pages 208-225, November.
    • Handle: RePEc:bla:revurb:v:15:y:2003:i:3:p:208-225
    DOI: 10.1111/j.1467-940X.2003.00073.x
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    Cited by:

    1. Lester Hadsell & Chad Colarusso, 2009. "Seasonal Homes and the Local Property Tax: Evidence from New York State," American Journal of Economics and Sociology, Wiley Blackwell, vol. 68(2), pages 581-602, April.
    2. Cho, Seong-Hoon & Kim, Seung Gyu & Roberts, Roland K. & Jung, Suhyun, 2009. "Amenity values of spatial configurations of forest landscapes over space and time in the Southern Appalachian Highlands," Ecological Economics, Elsevier, vol. 68(10), pages 2646-2657, August.
    3. Asgary, Ali & Rezvani, Mohammad Reza & Mehregan, Nader, 2011. "Local Residents’ Preferences for Second Home Tourism Development Policies: A Choice Experiment nalysis," MPRA Paper 29703, University Library of Munich, Germany.
    4. Jan Velvin & Tor Martin Kvikstad & Eivind Drag & Erling Krogh, 2013. "The Impact of Second Home Tourism on Local Economic Development in Rural Areas in Norway," Tourism Economics, , vol. 19(3), pages 689-705, June.
    5. Czarnecki, Adam & Heffner, Krystian, 2008. ""Drugie Domy" A Zrównoważony Rozwój Obszarów Wiejskich," Village and Agriculture (Wieś i Rolnictwo), Polish Academy of Sciences (IRWiR PAN), Institute of Rural and Agricultural Development, vol. 4(141).
    6. Bloze, Gintautas & Skak, Morten, 2014. "Owning, letting and demanding second homes," Discussion Papers on Economics 1/2014, University of Southern Denmark, Department of Economics.

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