The Impact of a Golf Course on Residential Property Values Academic Article uri icon

abstract

  • A large proportion of golf courses currently under construction are part of larger real-estate projects. The objective of this study was to identify the magnitude of the increase in property prices created by the golf course in one such amenity. A hedonic analysis was undertaken using a sample of 305 sales transactions in a golf course subdivision in College Station, Texas. For comparative purposes, the assessed valuations of these properties were used as an alternative dependent variable. The premiums on lots adjacent to the golf course were $61,074 and $45,759, based on sales prices and assessed valuations, respectively. These premiums represented 25.8% of the average sales price of the homes, and 19.2% of the average assessed value. Prices and assessed values were also found to decline significantly with distance to the country club (by $810 per foot from the entrance).

published proceedings

  • Journal of Sport Management

altmetric score

  • 3

author list (cited authors)

  • Nicholls, S., & Crompton, J. L.

citation count

  • 36

complete list of authors

  • Nicholls, Sarah||Crompton, John L

publication date

  • October 2007