Property Values and Landmarking in Palm Beach
Location: Palm Beach, FL
Client: Preservation Foundation of Palm Beach
Date: October 2021
The historic landmarked properties of Palm Beach set a high standard for beauty, quality, character, design, and stewardship. This study was commissioned by the Preservation Foundation of Palm Beach primarily to determine if landmarking has an adverse impact on property values. The big news is that this analysis found that landmarking had no negative impact on property values, either in current values, value change over time, value change following designation, or when accounting for differences in age, condition, size, water access, or location. Not only does landmarking not reduce property values, landmarked properties experience greater rates of value increase than do non-landmarked properties.