scholarly journals Changes in Housing Availability Indicator in Selected Polish Cities in the Years 2006 to 2018

2019 ◽  
Vol 16 (1) ◽  
pp. 91-97
Author(s):  
Marta Martyniak
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
Housing Prices ◽  
Real Estate Market ◽  
Secondary Market ◽  
Individual Investors ◽  
Residential Real Estate ◽  
Asymmetry Of Information ◽  
Transaction Prices ◽  
Central Statistical

Abstract Research purpose. Housing availability indicator shows the area of residential real estate possible to purchase for the average monthly wage in the enterprise sector. The research carried out in this paper is aimed at determining the current level of housing availability indicator and its detailed analysis, taking into account the dynamics of changes in 2006 to 2018. This analysis will be carried out for primary and secondary market for selected Polish cities. Design/Methodology/Approach. Calculations were based on the average transaction prices obtained from the transactional database of residential real estate of the National Bank of Poland and the value of the average monthly remuneration in the enterprise sector obtained partly from statistical data and official journals of the Central Statistical Office. Findings. The analysis shows that the indicator of housing availability in Poland, despite the visible upward trend, is at a very low level, placing Warsaw at the first place. In addition, the extension of the analysis to the division of the housing market into the primary and secondary market provided more information about shaping the housing availability indicator. Whereas in the primary market in individual cities its value was at a similar level, the secondary market was subject to greater fluctuations. Originality/Value/Practical implications. This paper is of practical nature. Due to the asymmetry of information on the Polish real estate market, especially regarding housing prices, knowledge about the value of the housing availability indicator in Poland may be exceptionally valuable, especially for people interested in the housing market, including individual investors and market practitioners, as an auxiliary source of information in purchasing decisions of households.

scholarly journals Applying The Line Of Resistance In Studies On Prices On The Housing Market In Szczecin

2014 ◽  
Vol 22 (1) ◽  
pp. 69-76
Author(s):  
Józef Hozer ◽  
Anna Gdakowicz
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
Real Estate Market ◽  
Secondary Market ◽  
Average Price ◽  
Residential Real Estate ◽  
Secondary Markets ◽  
Transaction Prices ◽  
The Cost ◽  
Line Of Resistance

Abstract The average price of residential real estate offered on the housing market in Szczecin has been declining since 2008. Prices on both the primary and secondary markets were regularly adjusted, disregarding the fact that the cost of 1 square meter of newly built flats was rising. Therefore, the question of how low can prices fall for the market to remain profitable arises? The situation on the residential real estate market has been analyzed in four areas: on the primary and secondary market, as well as by offer and transaction prices. The study was conducted in Szczecin on a quarterly basis in the period of 2007-2012.

scholarly journals Primary and Secondary Residential Real Estate Markets in Poland – Analogies in Offer and Transaction Price Development

2013 ◽  
Vol 21 (1) ◽  
pp. 39-48 ◽  
Author(s):  
Iwona Dittmann
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Secondary Market ◽  
Residential Real Estate ◽  
Capital Cities ◽  
Real Estate Markets ◽  
Transaction Prices ◽  
National Bank ◽  
Market Transaction ◽  
The Individual

Abstract The paper presents the results of a comparison of the development of mean offer and transaction prices per 1m2 in primary and secondary residential real estate markets in 16 provincial capital cities in Poland, during the time period from the 3rd quarter of 2006 to the 3rd quarter of 2012. The quarterly data came from the residential real estate price database of the National Bank of Poland (NBP). The research concerns the dependencies in the residential real estate market between the following four price categories: offer prices in the primary market, transaction prices in the primary market, offer prices in the secondary market and transaction prices in the secondary market. For each city, the dynamics of each price category per 1m2, the existence of a linear correlation between the individual mean price categories in chosen subintervals and their convergence and variability in time were studied and compared.

scholarly journals Teoretyczne i metodyczne aspekty wyznaczania indeksów cen na rynku mieszkaniowym

2018 ◽  
Author(s):  
Radosław Trojanek
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Real Estate Market ◽  
Secondary Market ◽  
Property Right ◽  
Sources Of Information ◽  
Single Family ◽  
Starting Point ◽  
Price Indexes

In the book, an attempt was made to catalogue knowledge concerning the importance of research into the dynamics of housing prices for social and economic development. The analysis of the experience of countries with well-developed real estate markets in the aspect of building price indexes was carried out. Based on original databases of asking and transaction prices, price indexes were built, which were then subjected to numerous resistance tests. The aims of these research tasks were as follows: 1) to examine the quality of offers for sale as a source of information about changes in the real estate market, 2) to find out whether the repeat sales method can be used for building price indexes and to critically assess this method in terms of the stability of the obtained results, 3) to analyze hedonic methods and indicate the preferred one in terms of the ratio of the quality of results to how time-consuming and cost-intensive it is to build such indexes, 4) to establish the importance of methods and sources of information for building price indexes in different time horizons, 5) to identify how important it is for the fluctuation of price indexes if the cooperative property right to a flat is not taken into account. In order to perform the research tasks and accomplish the goals scopes of the work were defined. The subject followed the aim of the study and refers to prices in the secondary housing market, encompassing both the property right and cooperative property right to a flat or house. The broad scope concerns the discussion in the general part, being narrowed down to the secondary market of flats located in multi-family and single-family buildings. The time scope covers the years 2000-2015, which is connected to the range of empirical studies carried out. They focused both on actual transactions and on offers of flats for sale. On this basis, we built databases which served as the starting point for further analyses. The study involved transactions and offers in the area of Poznan.

scholarly journals Assessment of Average Market Investment Returns in Development of the Residential Real Estate in the Moscow Region

2019 ◽  
Vol 12 (3) ◽  
pp. 140-152
Author(s):  
S. G. Sternik ◽  
Ya. S. Mironchuk ◽  
E. M. Filatova
Keyword(s):  
Real Estate ◽  
Initial Data ◽  
Housing Market ◽  
Return On Investment ◽  
High Reliability ◽  
Real Estate Market ◽  
Moscow Region ◽  
Residential Real Estate ◽  
Market Return ◽  
Total Investment

In the previous work, G.M. Sternik and S.G. Sternik justified the options for the method of assessing the average current annual return on investment in residential real estate development, depending on the nature and content of the initial data on the costs contained in the sources of information (construction costs or total investment costs). Based on the analysis of the composition of the elements of development costs used in various data sources, we corrected the coefficients that allowed us to move from the assessment of the current annual return on investment in development in relation to the cost (full estimated cost) of construction to the assessment of the current annual return on investment in relation to the total investment costs. This calculation method was tested on the example of the housing market inMoscow. As a result, we concluded it is possible its use for investment management in the housing market. In this article, based on G.M. Sternik and S.G. Sternik’s methodology for assessing the return on investment into the development, and taking also into account the increase of information openness of the real estate market, we improved the calculation formulas, using new sources of the initial data, and recalculated the average market return on investment into the development of residential real estate in the Moscow region according to the data available for 2014–2017. We concluded that, since 2015, the average market return on investment takes negative values, i.e. the volume of investment in construction exceeds the revenue from sales in the primary market. However, in the second half of 2017, the indicator has increased to positive values, which was due to a greater extent of the decrease in the volume of residential construction in the region. The data obtained by us, together with the improved method of calculations, allow predicting with high reliability the potential of the development of the regional markets of primary housing for the purpose of investment and state planning of housing construction programs.

scholarly journals Listing of Developer Companies as a Predictor of the Situation on the Residential Real Estate Market

2018 ◽  
Vol 26 (4) ◽  
pp. 12-21
Author(s):  
Rafal Wolski
Keyword(s):  
Real Estate ◽  
Stock Market ◽  
Housing Market ◽  
Stock Exchange ◽  
Real Estate Market ◽  
Residential Real Estate ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Secondary Housing Market

Abstract The stock exchange is considered one of the most important financial institutions in the market economy. The stock market reacts to the state of the economy almost immediately, and, in the end, the quotations of companies affect the state of other markets. The author decided to look at companies from the WIG Real Estate index as important entities shaping the real estate market. When comparing the situation on the capital market with the situation on the residential real estate market, one could, building an appropriate model, conclude how much these markets interact. Purpose - The purpose of the article is to present the links between two important markets, the capital market, with real estate companies as its representatives, and the secondary housing market. In order to achieve the goal, a research hypothesis was formulated: the economic situation on the real estate companies market will be reflected in the situation on the secondary housing market. Design/methodology/approach - Cross-sectional regression analysis was used in the study. Using the data from the Warsaw Stock Exchange and the National Bank of Poland, regression models where price changes in the secondary housing market are explained by the quotations of real estate companies and selected stock exchange indices were built. The study was carried out from the first quarter of 2011 to the third quarter of 2017. Findings - Two models were built in which the rates of return on investments in real estate companies explain the price changes in the secondary housing market in a statistically significant way. Thus, the research hypothesis was positively verified, showing that the real estate market and the stock market of real estate companies are interrelated. Originality/Value - The alternative method of analyzing the real estate market can be considered as the original value of the presented results. A demonstration of the connections between both markets allows us to validate the methods used on the stock market to analyze the real estate market. An example application is the use of methods for estimating the cost of capital from the stock market in the real estate market.

Analysis of the residential real estate market on the example of households and apartments of the secondary market of the city of Krasnodar

2020 ◽  
pp. 118-122
Author(s):  
Б.А. Хахук ◽  
Е.Ч. Куадже
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Secondary Market ◽  
Residential Real Estate ◽  
Price Changes ◽  
Location Factor ◽  
Factors Affecting ◽  
Main Factors ◽  
The City

Статья посвящена исследованию рынка жилой недвижимости в МО г. Краснодар, представлена динамика изменения цен за период 2009-2019 гг. Выявлены основные факторы, влияющие на формирование стоимости объектов жилой недвижимости в городе Краснодаре, при этом основное внимание уделено фактору местоположение. The article is devoted to the study of the residential real estate market in the city of Krasnodar, the dynamics of price changes for the period 2009-2019 is presented. The main factors affecting the formation of the value of residential real estate in the city of Krasnodar are identified, with the focus on the location factor.

scholarly journals Dynamics in Turkish Housing Market

2019 ◽  
Author(s):  
Sıtkı Sönmezer ◽  
Gürol Aytüre
Keyword(s):  
Real Estate ◽  
Interest Rates ◽  
Housing Market ◽  
Foreign Currency ◽  
Housing Prices ◽  
Real Estate Market ◽  
Construction Sector ◽  
Increased Risk ◽  
Mortgage Rates ◽  
Significant Factors

The recent economic crises of the summer 2018 has led to hiking foreign currency prices and an increased risk perception. Moreover, promising returns of alternative investments has convinced investors to refrain from the housing market and the demand in real estate market has fallen significantly. Measuring the demand for housing precisely is crucial for overcoming economic difficulties as well as understanding the profitability, liquidity and the future of construction sector in Turkey. In this study, significant factors that have impact on the demand for real estate market are assumed to be dynamic. Different regimes are formed based on interest rates and factors like housing prices, location, mortgage rates, bond rates, foreign currency returns, gold returns and iron prices are used to test the changes in the demand for real estate.

scholarly journals Residential factor of forming the territory’s value of the Lviv city

2016 ◽  
pp. 72-78
Author(s):  
V. Zapototska ◽  
O. Levytska ◽  
I. Horyn
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Real Estate Market ◽  
Secondary Market ◽  
Transport Infrastructure ◽  
Full Time ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The City

In this article we consider the theoretical and applied principles of formation of the cost of residential areas of Lviv. Some factors of supply were evaluated such as: availability of housing, the exploitaition of housing, foreign direct investments, the amount of construction works. The assessment of activity indicators of the real estate market in the regions was done. Maximum of residential real estate of the secondary market of Lviv, which were on sale in 2015, was observed in FrankIvskiy region (20.0% of all objects), because it has a high degree of intensity of functioning of the real estate market in this segment. However, in Sykhivskiy region the development of secondary real estate is retarded, despite of the significant amounts of housing. An analysis of the price indices of housing in the city allowed to the authors to identify five areas of pricing, to analyze property values of the areas of the city and to outline the reasons of differentiation. The first – Central area – includes Galitskiy array. The second – middle zone – consists of Zaliznichniy, Frankivskiy, Shevchenkivskiy and Lychakivskyi arrays and Lychakiv, Pogulyanka and the New Lviv. The third – peripheral urban area – covers Levandivka, Sriblyastiy, Veliki Kravchitsi, Znesinnia, Mayorivka, Kozelnyky, Sihiv and Sykhivskiy array Bodnarivka, Kulparkiv, Zamarstyniv and Zboyischa. The fourth – peripheral area – includes Syhnivka and Ryasne. The fifth – neighborhood peripheral zone– applies to the Lysynachi and Ryasne-2. The authors managed to create a map of the potential fields in a cost of residential development in the city. The amount of new buildings in the city’s area also was analyzed in the work. According to the forecast which was made by using analytical methods of smoothing and leveling till May 2017, prices in secondary market of all areas of Lviv will gradually decrease in average house. Naturally, the highest values in prices will occur in the central and middle areas. The reason is that the investigated territory is the historical center of the city, which has a high level of service industry. This part of city has the highest level of industrial production and sales of industrial products. It also constantly focuses on development of trade and providing the local population with qualitative goods and services. Housing prices will be the lowest in peripheral approximate, peripheral and remote peripheral areas of Lviv, which are the youngest and the most isolated among other areas of the city. There are also green areas in Lviv which are characterized by insufficient availability of social facilities. The main problem here is transport infrastructure. It needs development and improvement because the locals daily faced with serious problems both during arrival at work or school and when they return home. In the work also were conducted the calculations of tightness connection (correlation) parameters of the commissioning of housing, retail turnover volume of enterprises of direct investment, the quantity of people and the average nominal wage by an average of one full-time employee. The result of the reseach is a tight connection between the commissioning of housing and retail turnover of enterprises and average nominal wages on average one staff member. It has a linear character and it’s positive. However, direct investments and quantity of population in general are not related to the investigation process.

scholarly journals RESEARCH OF FEATURES OF RENT MARKET DEVELOPMENT

2021 ◽  
Vol 1 (161) ◽  
pp. 116-123
Author(s):  
S. Kobzan ◽  
A. Ivakhnenko ◽  
M. Tolsta
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
Real Estate Market ◽  
Residential Real Estate ◽  
The Real ◽  
The Real Estate ◽  
Rental Market ◽  
The Real Estate Market ◽  
The Cost ◽  
The City

The purpose of the article is to conduct a study of the rental market as a separate segment of the real estate market in urban development. A study of the rental market in Kharkiv was conducted. The relevance of the study is to determine the prospects for the development of modern urban economy, taking into account the development of the rental market. The question of the dependence of the rent on the cost of housing and the profitability of certain segments of the housing market is determined. An improved classification of different segments of housing in the modern city is given. An analysis of the cost of rent for each segment and depending on the location. Factors that significantly affect the cost of rent have been studied. Conclusions are made about the future development of the rental market in the municipal economy. In urban planning and urban planning it is extremely important to take into account the prospects and development of such a market segment as the rental market of residential real estate. The relevance of the study is to determine the prospects for the development of modern urban economy, taking into account the development of the rental market. The residential real estate rental market is a very important component for the development of the city in Kharkiv. The issue of researching the apartment rental market is relevant and will be deeply analyzed in the future. To achieve this goal, the following tasks are set in the work: Analyze the rental market. Develop an improved classification of segmentation in the residential real estate market. Conduct research on the factors that affect the cost of rent. Develop a GIS model of the impact of rental costs depending on the area of the city. Build a detailed table of the dependence of the cost of rent on the location. Investigate the interaction in the real estate rental market and sales within urban development. The rental price is influenced by the following factors: - trends of growth or decline of the general state of the real estate market as a whole; - seasonality; - the distance of the district from the city center; - the presence of a transport interchange; - ecology, in the area where the object is located; - developed infrastructure; - level of housing comfort; - the duration of the lease; - number of rooms; - the presence of repairs; - type and condition of the building in which the dwelling is located. The article examines the rental housing market. Defined rental rates: minimum, average and maximum cost. Charts of dependence of cost of rent on a segment and a location are constructed. The housing market is developing despite the unstable economic situation, the devaluation of the hryvnia and declining incomes. The cost of renting an apartment depends on the location, condition of the house, transport infrastructure and the condition of the real estate. The hotel rental market is developing very actively. In Kharkov, in most cases, buy small apartments and hotels for investment (income from further rent). With the help of GOOGLE MAP, a map of the dependence of the average cost of renting hotels and 1-bedroom, 2-bedroom, 3-bedroom apartments on the location in the areas of Kharkiv was developed.

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