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2010 | 14 | 1 | 19-34
Article title

MARKET COMPETITION FOR HIGH-DENSITY RESIDENTIAL LAND

Content
Title variants
Languages of publication
EN
Abstracts
EN
The authors investigate the potential competition between multifamily and condominium developers for raw land throughout the U.S. When considering the entire sample period, they find evidence that condominium developers paid, on average, more for land than their multifamily counterparts. Alternatively, when they separate the sample into low versus high-growth locations and two time subperiods, they observe that the premium is not entirely consistent. The average premiums appear to be largely a result of the high-growth locations from 2004 to mid-2008. Indeed, the results demonstrate that condominium developers paid over 60 percent more for land in high-growth states during the later subperiod. This extraordinary premium calls into question the price formation process in these locations.
Contributors
  • Matthew L. Cypher, Invesco Real Estate, Three Galleria Tower, Suite 500, 13155 Noel Road, Dallas, Texas 75240, USA
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
10LTAAAA080328
YADDA identifier
bwmeta1.element.a4fab8c9-170f-3505-8a67-1b5e7fe35dc0
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