Beach Re-Nourishment and Property Value Growth: The Case of Folly Beach, South Carolina
27 Pages Posted: 12 Feb 2011
Date Written: February 11, 2011
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: Suggested Citation