BEACH QUALITY AND THE ENHANCEMENT OF RECREATIONAL PROPERTY-VALUES

This study uses the hedonic pricing technique to examine the contribut ion of beach quality, as measured by beach width, to property values i n two South Carolina coastal towns. Using two separate models, we esti mate the values of wider beaches to vacant lots and single family home s, both with and without water frontage. For oceanfront property, incr easing the beach width from 79 to 80 feet, increases the value of deve loped and undeveloped lots by $558 and $754, respectively. An increase in beach width from 79 to 80 feet, increases the value of developed a nd undeveloped lots, located a 1/2 mile from the beach by $254 and $16 5, respectively. The willingness to pay for wider beaches is an indica tion of the size of the storm protection and recreational values produ ced by wider beaches.