Club Good Influence on Residential Transaction Prices

28 Pages Posted: 22 Jan 2013

See all articles by J. Andrew Hansz

J. Andrew Hansz

E.V. Williams Center for Real Estate

Darren K. Hayunga

University of Georgia - Department of Insurance, Legal Studies, Real Estate

Date Written: 2012

Abstract

We examine residential real estate transactions in a market where an additional property right to a club good may have an influence on prices. We find that for single-family property, the market capitalizes approximately 50% of the full value of the extra property right. For condominiums, the amount reduces to approximately 25%. While these amounts are positive, they clearly are significantly lower than full value.

Keywords: transaction, property right, single-family, condominiums

Suggested Citation

Hansz, J. Andrew and Hayunga, Darren K., Club Good Influence on Residential Transaction Prices (2012). Journal of Real Estate Research, Vol. 34, No. 34, 2012, Available at SSRN: https://ssrn.com/abstract=2205217

J. Andrew Hansz (Contact Author)

E.V. Williams Center for Real Estate ( email )

Norfolk, VA 23529-0222
United States
7576833505 (Phone)

Darren K. Hayunga

University of Georgia - Department of Insurance, Legal Studies, Real Estate ( email )

Athens, GA 30602-6254
United States
706-542-1365 (Phone)

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