Pricing the Homebuyer's Proximity to Open Land

While there is a substantial literature showing amenity value accruing to properties abutting various types of open space, there is less showing the relative value of these amenities on properties that do not abut, but are close to, the open space in question. This study looking at property transaction finds that the value of lake frontage far exceeds that on farms or other open spaces, but while farms transmit a positive amenity value to properties nearby, properties nearby but not on lakes experience a disamenity. We find limited evidence for positive amenity value on golf course and outlot frontage. [PUBLICATION ABSTRACT]