Declining Marginal Value of Coastal Proximity Kenneth Wehrmann How is Coastal Property Valued? How much extra would you pay for a house on the beach? How much less for a house that was on the second row of houses? Third?.... MAP of Beach Research Previous Hedonic Studies Rosen
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MAP of Beach
Coastal homes are highly valued for their close proximity to a scarce resource, our beautiful North Carolina shores. Coastal proximity provides utility to consumers and will therefore demand a premium. This premium will decline as distance to the shore increases and should show signs of diminishing returns.
∆ Distance to Shore
Distance to Shore
Map of Beaches
Distance to Nearest Shore
Range: 73 Ft to 1 mile
Average: 1743 ft or 3/10ths of a mile
Distance to Neatest Shore Squared (Diminishing Returns)