Drivers of subregional housing markets in Poland

PURPOSE: The paper investigates how sustainable city development factors impact housing price levels in subregional cities, on basis of 14 thousand real transactions in three Polish cities in the years 2006–2014.DESIGN/METHODOLOGY/APPROACH: The multiple regression analysis with hedonic approach was used.FINDINGS: The three-equation model has proven that economic development factors affect housing price levels in subregional cities while social progress and environmental responsibility do not always explain the change in the housing prices. Additionally the analysis of data allowed to conclude that the smaller the local market is, the more it is responsive to changes in external conditions.PRACTICAL IMPLICATIONS: The housing market in subregional cities is different to big cities, prices change slower and do not respond to changes in the macro-environment factors as quickly and strongly as in large cities. Moreover, the situation on the local housing markets depends largely on the scale of sustainable development of the city. The study outcomes can be readily used to help more accurately plan housing investments for real estate developers or planning authorities responsible for housing policy.ORIGINALITY/VALUE: We indicated what types of sustainable development factors affect the level of housing prices in subregional cities.peer-reviewe

Quality of multifamily residential land as a factor supporting sustainable urban development

The analysis of the real estate market is one of the basic tasks of a real estate valuer. Proper analysis should be preceded by determining the spatial extent of the market. It is most often assumed that comparative properties should be located on the local market, usually seen as the market of a given town or commune. In contrast, in the absence of local market transactions, the analyzed area is extended to the regional, national and, in specific cases, even international markets. The purpose of the article is to define the boundaries of the local market in the example of the city of Poznań (Poland). The market research was mainly based on statistical analysis. The results of the conducted research show that in the case of undeveloped land for multifamily housing in Poznań, the local market should be narrowed to specific city zones, not treating the city area uniformly. Additionally, it should be noted that investors make decisions about the location of residential investments, considering land prices and real estate development opportunities, which vary in different parts of the city. The quality of life of residents and the degree of sustainable development of the city that can be achieved depend on the developers' decisions on the choice of location, as well as on the spatial and technical solutions used

Spatial and Statistical Analysis of Urban Poverty for Sustainable City Development

One of the main pillars of sustainable urban development at the local scale is to control the social aspect of urban equality of socio-economic systems. A number of studies confirm that poverty in urban space is accompanied by negative phenomena, such as high unemployment, social pathologies, increased crime rate, or the high level of the decapitalization of space, including the poor condition of housing and municipal infrastructure. However, there is a gap in defining the relation between urban poverty and city structure to control and preferably minimize social inequalities. The aim of the study was to empirically verify the impact of the location of residential properties in relation to poverty-stricken areas in the city. The research covered the housing market in one Polish city (Kalisz) in the years 2006–2018. By applying GIS technologies, we identified the location of each property in relation to poverty areas. The data was subjected to regression analysis, with the use of the hedonic approach based on exponential models. The analysis of data allowed us to conclude that location in a poorer area does affect the prices of new flats, which is not only a contribution to the development of science, but is also information that could be used by developers or property valuers to establish the prices of flats, as well as city managers to avoid pauperization of urban districts

Spatial and Statistical Analysis of Urban Poverty for Sustainable City Development

One of the main pillars of sustainable urban development at the local scale is to control the social aspect of urban equality of socio-economic systems. A number of studies confirm that poverty in urban space is accompanied by negative phenomena, such as high unemployment, social pathologies, increased crime rate, or the high level of the decapitalization of space, including the poor condition of housing and municipal infrastructure. However, there is a gap in defining the relation between urban poverty and city structure to control and preferably minimize social inequalities. The aim of the study was to empirically verify the impact of the location of residential properties in relation to poverty-stricken areas in the city. The research covered the housing market in one Polish city (Kalisz) in the years 2006–2018. By applying GIS technologies, we identified the location of each property in relation to poverty areas. The data was subjected to regression analysis, with the use of the hedonic approach based on exponential models. The analysis of data allowed us to conclude that location in a poorer area does affect the prices of new flats, which is not only a contribution to the development of science, but is also information that could be used by developers or property valuers to establish the prices of flats, as well as city managers to avoid pauperization of urban districts

Decyzje inwestycyjne na rynku lokali mieszkalnych a hałas drogowy

Hałas występujący w środowisku powinien być czynnikiem branym pod uwagę w procesie inwestowania w przestrzeni zurbanizowanej, zwłaszcza w nieruchomości mieszkaniowe, gdyż w znacznym stopniu decyduje on o poziomie życia mieszkańców. Niniejszy artykuł jest próbą weryfikacji hipotezy dotyczącej negatywnego wpływu hałasu drogowego na ceny lokali mieszkalnych położonych w strefie ponadnormatywnego poziomu dźwięku, a jednocześnie próbą odpowiedzi na pytanie: czy przy podejmowaniu decyzji inwestycyjnej o kupnie mieszkania w śródmieściu inwestorzy uwzględniają poziom hałasu drogowego występujący w otoczeniu? Weryfikację hipotezy przeprowadzono na wybranym obszarze Polski w oparciu o analizę transakcji lokalami mieszkalnymi, w zestawieniu z występującym poziomem hałasu, opisanym w SMA. W opracowaniu przeprowadzono analizę w zakresie danych transakcyjnych zarejestrowanych na śródmiejskim rynku nieruchomości mieszkaniowych Kalisza. Do oceny wpływu hałasu na ceny nieruchomości mieszkaniowych wykorzystano analizę statystyczną. Z przeprowadzonych badań wynika, że dla nabywców lokali mieszkalnych ważną ich cechą jest odnotowywany hałas

Wpływ hałasu na jakość przestrzeni publicznej w mieście

Czynnikiem negatywnie wpływającym na jakość życia w mieście jest hałas, który może zmniejszyć atrakcyjność przestrzeni publicznej. Odpowiednio urządzona przestrzeń publiczna, wyposażona w infrastrukturę, jest niezbędna do prawidłowego funkcjonowania mieszkańców. Minimalizuje ona wykluczenie, zmniejsza podziały społeczne, kształtuje postawy, chroni i pielęgnuje lokalną kulturę. Celem pracy jest zdiagnozowanie jakości przestrzeni publicznej miasta przy wykorzystaniu subiektywnej metody oceny uciążliwości akustycznej oraz próba weryfikacji hipotezy badawczej o negatywnym wpływie hałasu na funkcjonalność i atrakcyjność wybranych przestrzeni publicznych. Do badań wytypowano trzy rodzaje przestrzeni publicznych Kalisza. Dla osiągnięcia celu przeprowadzono subiektywną ocenę uciążliwości akustycznej przy wykorzystaniu metody wywiadu. Wyniki przeprowadzonych badań wskazują, że badana przestrzeń nie jest przyjazna pod względem akustycznym, ale hałas nie jest odczuwalny przez użytkowników badanych przestrzeni – z powodu korzystania z niej w celach innych niż wypoczynkowe. Największym źródłem hałasu w wybranych lokalizacjach jest komunikacja samochodowa, która nie jest przeszkodą w kontaktach międzyludzkich, w przeciwieństwie do zakłóceń generowanych przez roboty drogowe lub remontowe

State and Determinants of Real Estate Market Development in Central and Eastern European Countries on the Example of Poland and Bulgaria

In this paper, the specificity of release and transformation processes of real estate markets in two postsocialist bloc countries, i.e. Bulgaria and Poland, was diagnosed. Comparative analysis of the conditions and directions of change was used as a tool to clarify the current situation, current status and characteristics of these markets. Comparison of Poland and Bulgaria also indicates the prospects for the development of real estate markets. The article is an attempt at assessing the condition and evolutionary progress of the residential segment. The authors also selected obstacles and factors promoting the development of real estate markets in the analyzed countries. This will either enable the critical assessment of changes observed in the past, or prove helpful in the context forecasting market phenomena

Real Estate Appraisal in Central-Eastern Europe: Comparative Analysis of Poland and Slovakia

The countries in Central-Eastern Europe have been subjected to dynamic economic changes. Researchers from Poland and Slovakia study the history of the creation of and rules by which the real estate appraiser’s profession functions. They also present the methodological basics for property appraisals. The original value of this article is a comparative analysis depicting the similarities and differences occurring in the research area, in two countries from the same region of Europe. The analysis may also influence the methodological discussions of specialists concerning the correctness and purpose of certain approaches, methods or techniques of property appraisal

Real Estate Appraisal in Central-Eastern Europe: Comparative Analysis of Poland and Slovakia

The countries in Central-Eastern Europe have been subjected to dynamic economic changes. Researchers from Poland and Slovakia study the history of the creation of and rules by which the real estate appraiser’s profession functions. They also present the methodological basics for property appraisals. The original value of this article is a comparative analysis depicting the similarities and differences occurring in the research area, in two countries from the same region of Europe. The analysis may also influence the methodological discussions of specialists concerning the correctness and purpose of certain approaches, methods or techniques of property appraisal