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Physical Attributes and Transaction Premiums in Properties Earmarked for Conversion

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  • Jonathan Wiley

Abstract

In previous discussions of condo conversions, data included either survey responses or macroeconomic sources limiting support for explanations related to market activity and property value. This study uses information gathered from individual apartment transactions identifying physical and locational attributes that are commonplace in properties selected for conversion. Similarities in attributes are consistent with previously discussed consumer profiles. A non-linear relationship exists between property age and conversion activity, with middle-age and historic properties more likely to be selected for conversion relative to new construction. Substantial premiums in the national sample are estimated for properties earmarked for conversion.

Suggested Citation

  • Jonathan Wiley, 2009. "Physical Attributes and Transaction Premiums in Properties Earmarked for Conversion," Journal of Real Estate Practice and Education, Taylor & Francis Journals, vol. 12(2), pages 137-155, January.
  • Handle: RePEc:taf:rjrpxx:v:12:y:2009:i:2:p:137-155
    DOI: 10.1080/10835547.2009.12091658
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