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

  • Blackwell, Calvin

    (College of Charleston)

  • Sheldon, Susannah

    (South Carolina Sea Grant Consortium)

  • Lansbury, David

    (Metropolitan Commercial Valuations)

  • Vaught, Dyanne

    (College of Charleston)

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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File URL: http://journal.srsa.org/ojs/index.php/RRS/article/view/18/175
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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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