Beach Quality and the Enhancement of Recreational Property Values

Abstract

This study uses the hedonic pricing technique to examine the contribution of beach quality, as measured by beach width, to property values in two South Carolina coastal towns. Using two separate models, we estimate the values of wider beaches to vacant lots and single family homes, both with and without water frontage. For oceanfront property, increasing the beach width from 79 to 80 feet, increases the value of developed and undeveloped lots by $558 and $754, respectively. An increase in beach width from 79 to 80 feet, increases the value of developed and undeveloped lots, located a 1/2 mile from the beach by $254 and $165, respectively. The willingness to pay for wider beaches is an indication of the size of the storm protection and recreational values produced by wider beaches.

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