Brand+beauty+utility=property value

Purpose The purpose of this paper is to introduce the significant role that brand, beauty and utility play in defining property value. Design/methodology/approach Beyond introducing the idea that property value is composed of brand, beauty and utility, the factors that comprise these three components of property value are explored. The relative contributions that brand, beauty and utility make to understanding the source of property value are examined through empirical research evaluating the perceptions of the relative contributions that each of these three factors make to property value, based on the analysis of data on some 55 single family residential properties drawn from throughout the world. Findings The findings explain reasons why certain properties command premium prices, relative to other properties. As commerce prioritizes branding in merchandising generally – and especially for luxury goods – that brand would assume a growing significant role in property markets is not surprising. Originality/value These findings challenge traditional thinking and introduce a new, powerful explanation of the source of property values.