The effect of coastal environment on residential property values: A review of literature

Abstract

In coastal environment, studies have revealed a wide range of structural, locational, neighbourhood and environmental attributes to account for their effects on property values. This study observed that the trends in studies on effects of different sectors of the coastline on coastal housing market have been largely progressive in continents like America, Asia and Europe but rather slow in Africa countries like Nigeria. In this review, an attempt is made to provide a common classification for housing attributes based on studies that employed hedonic pricing models and categorize findings from a number of coastal housing studies. The review also noted that measurable but varied price premium were paid for attributes such as beach nourishment, water views and clarity by buyers for proximate properties to the coastline. The paper therefore recommends more studies of effects of coastline features on property value particularly in developing countries like Nigeria so as to reveal the peculiarities in their coastal regions.