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Key Factors Affecting Valuation for Senior Apartments

Author

Listed:
  • Jonathan A. Wiley

    () (Georgia State University)

  • David Wyman

    () (Clemson University)

Abstract

The value of senior apartments is estimated relative to traditional apartments in 34 US markets. In some markets, senior apartments transact at higher prices than predicted; in others, a discount. Market differences in the valuation of senior apartments are examined, and several attributes are found to have a significant impact and become capitalized into differential values for senior apartments including: the supply of apartments per senior resident, housing prices, market size, education, and life expectancy. Other variables appear to have no effect, including rent and income, suggesting that the price impact is symmetrical for senior and traditional apartments.

Suggested Citation

  • Jonathan A. Wiley & David Wyman, 2012. "Key Factors Affecting Valuation for Senior Apartments," Journal of Real Estate Research, American Real Estate Society, vol. 34(2), pages 183-210.
  • Handle: RePEc:jre:issued:v:34:n:2:2012:p:183-210
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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol34n02/03.183_210.pdf
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    Cited by:

    1. Jack Corgel & Crocker Liu & Robert White, 2015. "Determinants of Hotel Property Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 51(3), pages 415-439, October.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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