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Study: Golf courses boost home values throughout South Florida

by James McClister

golf-courses-miami-dade-broward-home-property-values-real-estate-agent

There are dozens of golf courses in Greater Miami, and regardless of what you think of them or their long-term economic viability, they are good for surrounding property values, a Florida Atlantic University study shows.

After reviewing more than 10,000 Broward, Miami-Dade and Palm Beach County real estate transactions that closed in 2015, FAU researchers found properties near golf courses, on average, received an 8- to 12-percent value bump.

Ken Johnson, a real estate economist and an associate dean of graduate programs and professor in FAU’s College of Business, called the statistical evidence supporting the “pricing boost” for golf course-adjacent properties “strong,” and said that not only is the study good news for property holders and buyers, but also for golf course owners, potential investors, and local governments.

Johnson’s assistant on the study, graduate student Ksenija Bogosavljevic, added that “the strong strong statistical evidence supporting a pricing boost for being adjacent to a golf course should help property owners, developers and city officials make quicker and more fair financial decisions.”

Considering Greater Miami is a popular destination for golfers (and some of the nation’s top courses are in the area) FAU’s study should prove a powerful selling tool for local real estate agents.

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