{"id":555,"date":"2020-04-28T00:19:05","date_gmt":"2020-04-27T16:19:05","guid":{"rendered":"http:\/\/localhost:8888\/?p=555"},"modified":"2025-12-28T05:36:05","modified_gmt":"2025-12-27T21:36:05","slug":"the-effect-of-appurtenant-golf-memberships-on-residential-real-estate-prices","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2020\/04\/28\/the-effect-of-appurtenant-golf-memberships-on-residential-real-estate-prices\/","title":{"rendered":"The Effect of Appurtenant Golf Memberships on Residential Real Estate Prices"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"555\" class=\"elementor elementor-555\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2968c7a0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2968c7a0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-41ebf4c5\" data-id=\"41ebf4c5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1d6d351b elementor-widget elementor-widget-text-editor\" data-id=\"1d6d351b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><div class=\"article_label\">Article<\/div><p class=\"article_title\">The Effect of Appurtenant Golf Memberships on Residential Real Estate Prices<\/p><div><p class=\"title_label_large\">Author<\/p><p class=\"title_label_large\">Start Page \/ End Page<\/p><p class=\"title_label\">Volume<\/p><p class=\"title_label\">Issue Number<\/p><p class=\"title_label\">Year<\/p><p class=\"title_label_large\">Publication<\/p><\/div><div><p><!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p><p class=\"title_text_large\">Steve P. Fraser, Marcus T. Allen<\/p><p class=\"title_text_large\">249 \/ 264<\/p><p class=\"title_text\">19<\/p><p class=\"title_text\">2<\/p><p class=\"title_text\">2016<\/p><p class=\"title_text_large\">International Real Estate Review<\/p><\/div><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Abstract<\/p><p><!-- Abstract Content --><br \/>Considerable prior research confirms the existence of real estate price premiums associated with golf course amenities in residential development projects. This study examines a unique residential development project in which membership in a golf club is appurtenant to the real estate: ownership of certain (but not all) dwellings in the project includes deeded membership in the project&#8217;s golf club. In this development project, golf memberships can only be obtained or disposed of by acquiring or selling the associated dwelling, respectively. The results of this analysis indicates that price premiums associated with appurtenant golf memberships, after controlling for golf course view and other relevant property characteristics, are significantly positive. Furthermore, the results indicate that the magnitude of the price premium for appurtenant golf memberships varies across dwelling types (detached vs. attached) in this project. These findings may be important for housing developers, consumers, lenders, appraisers, and property and income tax authorities.<\/p><p><!-- PDF DownloadLink --><\/p><p>\u00a0<\/p><p class=\"download\"><a href=\"http:\/\/www.gssinst.org\/irer\/wp-content\/uploads\/2020\/10\/v19n2-the-effect-of-appurtenant-golf-memberships-on-residential-real-estate-prices.pdf\"><strong>View PDF -https:\/\/doi.org\/10.53383\/100222<\/strong><\/a><\/p><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Keywords<\/p><p><!-- Keywords --><\/p><p class=\"keywords\">Housing Prices, Hedonic Pricing, Club Goods, Golf Club Membership, Common Interest Real Estate Developments<\/p><p><a class=\"backpage\">Back to Previous Page<\/a><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<div>\n<p class=\"title_label_large\">Author<\/p>\n<p class=\"title_label_large\">Start Page \/ End Page<\/p>\n<p class=\"title_label\">Volume<\/p>\n<p class=\"title_label\">Issue Number<\/p>\n<p class=\"title_label\">Year<\/p>\n<p class=\"title_label_large\">Publication<\/p>\n<\/div>\n<div>\n<!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p>\n<p class=\"title_text_large\">Steve P. Fraser, Marcus T. Allen<\/p>\n<p class=\"title_text_large\"> 249 \/ 264<\/p>\n<p class=\"title_text\">19<\/p>\n<p class=\"title_text\">2<\/p>\n<p class=\"title_text\">2016<\/p>\n<p class=\"title_text_large\">International Real Estate Review<\/p>\n<\/div>\n<p class=\"abstract_label mt16\">Keywords<\/p>\n<p class=\"keywords\">Housing Prices, Hedonic Pricing, Club Goods, Golf Club Membership, Common Interest Real Estate Developments<\/p>\n<p class=\"downloadLine\"><a href=\"https:\/\/www.um.edu.mo\/fba\/irer\/papers\/current\/vol19n2_pdf\/05.pdf\">Download Entire Article.<img src=\"https:\/\/i.ibb.co\/m8rCXNQ\/download-pdf-large.png\" alt=\"download-pdf-large\" border=\"0\"> <\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[61,59],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/555"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=555"}],"version-history":[{"count":3,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/555\/revisions"}],"predecessor-version":[{"id":5013,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/555\/revisions\/5013"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}