Język Polski
English
An analysis of the real estate sector in Poland – a monitoring of prices
Marta Widłak
Abstract
This article focuses on the monitoring of the real estate market, with a special attention to house prices. First, the basic facts about the residential and commercial property market, such a size of the housing stock, etc. are presented. Moreover, the determinants of prices, rents and the size of the real estate stock are presented. In the next section the availability of data that is necessary to analyse the market is discussed. It is crucial to measure prices in an appropriate way, therefore theoretical and empirical models that are used to analyse prices in the housing market are presented. The presentation of the hedonic price model, which accounts for the heterogeneity of housing characteristics, allows for an adequate empirical analysis of house prices. The empirical approach is discussed in detail and recent empirical results are presented. Methods that improve the measuring of prices, such as spatial regressions, are applied and their empirical results presented. Finally, the question on whether to include house prices in the CPI and similar price indices is discussed.
Keywords:
real estate market, commercial and residential real estate, real estate price modelingMost read articles by the same author(s)
- Hanna Augustyniak, Jacek Łaszek, Krzysztof Olszewski, Marta Widłak, Residential real estate policy and the regulatory environment of the residential real estate sector , Safe Bank: Vol. 53 No. 4 (2013): Bezpieczny Bank
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