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

27 Pages Posted: 12 Feb 2011

See all articles by Calvin Blackwell

Calvin Blackwell

College of Charleston - School of Business

Susannah Sheldon

South Carolina Sea Grant Consortium

David Lansbury

Metropolitan Commercial Valuations

Date Written: February 11, 2011

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.

Keywords: Beach Re-Nourishment, Repeat Sales, Natural Experiment

JEL Classification: R00

Suggested Citation

Blackwell, Calvin and Sheldon, Susannah and Lansbury, David, Beach Re-Nourishment and Property Value Growth: The Case of Folly Beach, South Carolina (February 11, 2011). Available at SSRN: https://ssrn.com/abstract=1760018 or http://dx.doi.org/10.2139/ssrn.1760018

Calvin Blackwell (Contact Author)

College of Charleston - School of Business ( email )

Department of Economics
66 George Street
Charleston, SC 29424
United States
843-953-7836 (Phone)
843-953-5697 (Fax)

Susannah Sheldon

South Carolina Sea Grant Consortium ( email )

287 Meeting Street
Charleston, SC 29401
United States
843.953.2078 (Phone)
843.953.2080 (Fax)

HOME PAGE: http://www.scseagrant.org

David Lansbury

Metropolitan Commercial Valuations ( email )

4041 University Drive
Fairfax, VA 22030
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
57
Abstract Views
643
rank
365,668
PlumX Metrics