Price Variation in Waterfront Properties Over the Economic Cycle
Price Variation in Waterfront Properties Over the Economic Cycle
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经济周期中海滨房产的价格变化
DOI：
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发表时间：
2016
期刊：
影响因子：
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通讯作者：
Greg T. Smersh
中科院分区：
文献类型：
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作者：
Randy Dumm;G. Sirmans;Greg T. Smersh
本文使用2000年至2012年期间坦帕湾房地产市场的销售数据，通过比较滨水物业与非滨水物业以及比较特定的滨水类型，研究了最近真实的房地产周期的繁荣、萧条和萧条后阶段的价格表现。滨水物业的价格比非滨水物业高出7.2%，但这一溢价在周期繁荣阶段的后期和周期萧条后的部分（2011年和2012年）更高。在评估特定滨水类型的性能时，海湾、运河、湖泊或河流上的房产在真实的房地产周期中提供了价格保护，而池塘上房产的价格性能在某些年份与非滨水房产更接近。
Using sales data from the Tampa Bay housing market for the period from 2000 to 2012, this paper examines price performance across the boom, bust, and post-bust phases of the most recent real estate cycle by comparing waterfront properties to non-waterfront properties and by comparing specific waterfront types. Waterfront properties enjoyed a 7.2 percent price premium over non-waterfront properties but this premium was higher in the latter part of the boom stage of the cycle and for the post-bust part of the cycle (2011 and 2012). When evaluating the performance of specific waterfront types, properties on the bay, canal, lake, or river provided price protection through the real estate cycle while the price performance of on-pond properties in some years was more closely aligned with non-waterfront properties.