Historic façade easements and single‐family home value: a case study of Savannah, Georgia (USA)
International Journal of Housing Markets and Analysis
ISSN: 1753-8270
Article publication date: 8 March 2011
Abstract
Purpose
Several pending court cases regarding the valuation of historic façade easements and the associated tax credit have generated interest in the valuation of such preservation tools. The purpose of this paper is to assess the impact of façade easements on the value of single‐family home sales.
Design/methodology/approach
The hedonic method, initially applied to real estate economics by Rosen in 1974, is used to analyze the data.
Findings
Results contradict established theory and research on other property types, showing no observable impact.
Research limitations/implications
The paper is limited to a single historic district in the USA, though it is the largest and arguably one of the most important. Facade easements, however, are used in many cities, making the study relevant in other geographic areas.
Originality/value
Little empirical work has been conducted on façade easements, and none in the context of single‐family homes, making this research an important contribution to real estate valuation literature.
Keywords
Citation
Winson‐Geideman, K. and Jourdan, D. (2011), "Historic façade easements and single‐family home value: a case study of Savannah, Georgia (USA)", International Journal of Housing Markets and Analysis, Vol. 4 No. 1, pp. 6-17. https://doi.org/10.1108/17538271111111802
Publisher
:Emerald Group Publishing Limited
Copyright © 2011, Emerald Group Publishing Limited