Radosław Trojanek

Dwelling's Price Fluctuations and the Business Cycle

The main aim of the paper is to identify the influence of business cycle in Poland on dwelling’s price fluctuations on the secondary housing market in the years 1996II q. 2009 in Poznan. The subject scope results from the aim of the paper and includes price fluctuations on the secondary housing market, involving both property rights and cooperative property rights for private accommodation. Received: June, 2010 1st Revision: September, 2010 Accepted: October, 2010 JEL Classification: E32, P2

AN ATTEMPT TO IDENTIFY THE SEASONALITY OF HOUSING PRICES IN SELECTED POLISH CITIES IN 1996-2012

Abstract Markets of any goods, like the whole economy, are subject to fluctuations, which are usually determined by the economic situation. Fluctuations of different strength affect all markets, including that of real estate. Studies conducted in other countries show that the number of transactions and the price of apartments on the housing market tend to increase in the spring and summer rather than in autumn and winter. In this paper, an attempt was made to verify this relation in Polish conditions using examples of several cities in the period of 1996-2012.

House Price Cycles - the Case of Poland PhD

The main aim of the paper was to identify changes on the secondary housing market in the years 1996-2011 in selected cities in Poland (Gdansk, Gdynia, Lodz, Poznan and Wroclaw). The subject scope results from the aim of the paper and includes price fluctuations on the secondary housing market, involving both property rights and cooperative property rights for private accommodation. In this research only dwellings located in multifamily buildings are analyzed. Submitted: August, 2011 1st revision: September, 2011 Accepted: October, 2011

Cyclical Fluctuations of Residentail Market in Wrocław

Rafal Kasperowicz Department of Microeconomics Poznan University of Economics CYCLICAL FLUCTUATIONS OF RESIDENTAIL MARKET IN WROCŁAW Radoslaw Trojanek Departament of Investment and Real Estate Poznan University of Economics ABSTRACT. The main aim of the paper is to identify price fluctuations on the secondary housing market in the years 1996-2009 in Wroclaw. The subject scope results from the aim of the paper and includes price fluctuations on the secondary housing market, involving both property rights and cooperative property rights for private accommodation. Received: July, 2010 1st Revision: September, 2010 Accepted: October, 2010

The effects of use values, amenities and payments for public goods on farmland prices: Evidence from Poland*

The article contributes to the debate on how land prices are affected by production values, by farming subsidies and by environmental amenities. The authors carried out a comprehensive review of the literature on the actual determinants of land value and made an attempt to classify different approaches to this matter. Then they performed an empirical case study of the drivers of agricultural land values in a leading agricultural region of Poland. The aim of the study is to establish how the use values of land, amenities and policy payments contribute to land values in the Single Area Payment Scheme (SAPS), which operates in Poland. The study is based on a sample of 653 transactions during the years 2010–2013. A hierarchical regression (ML-IGLS method) was used, where the unobserved heterogeneity is attributed to the location-specific factors at different levels of analysis. Results indicate that the policy payments for public goods decapitalise the value of land, whereas the environmental amenities have a...

Spatial and time effect of subway on property prices

In the paper, we analyzed both spatial and time effects of subway availability on apartment prices in Warsaw, the only city in Poland with rapid urban transit system. We have used the data set contained in 6971 geo-coded apartment transactions for the years 2010 to 2015 in Warsaw. In this research, the hedonic method was used in OLS, QTL, SAR and SEM models. We found strong evidence that the new subway line (M2) influenced apartment prices even before it was completed. It confirms our hypothesis, and is in line with previous research in other countries. We observed a steady price premium adjustment process related to new subway line. The impact of the new subway line M2 on apartment prices gradually and significantly increased with time. An increase in distance to the subway station was reflected in a decrease in housing prices (from -1.7%per km in 2010 to -2.4%per km in 2015). We have not found similar effect for the old subway line M1. In case of the latter, the marginal effects did not change significantly in time.

Changes in the Demographic Structure of the Central City in the Light of the Suburbanization Process (The Study of Poznań)

The aim of the paper is to identify changes in the age structure of the inhabitants of the Downtown of Poznan and in the housing stock and number of residents in a single flat, taking into consideration the type of construction (in 2008 and 2013).

Demographic Structural Changes in Poznań Downtown : in the Light of the Processes Taking Place in the Contemporary Cities in the Years 2008 and 2013

Th e aim of this paper was to identify changes in the number and age structure of inhabitants and changes in the housing stock of Poznań city in the selected years (2008 and 2013). In the fi rst part of the paper, we describe functional and spatial transformations in contemporary cities as well as their causes. Th e process of suburbanization and the resulting phenomenon of “shrinking cities” is discussed. In the empirical part, on the basis of data from the registration base of the Ministry of Internal Aff airs (Poland), we carried out the analysis of the demographic structure of Poznań population and of the structure of buildings in Poznań downtown.

Cyclical Behaviour of Residential Markets

Each market, same as the whole economy, is subject to business cycles. This rule can be applied also to real estate market [Gawron, 2006, p.69]. This paper presents three main topics: idea of business cycle on real estate market, survey of residential price cycles in chosen OECD countries and an analysis of dwelling’s price cycles in Pozna in the period 1996 – II Q. 2009. Submitted: April, 2010 1st revision: May, 2010 Accepted: June, 2010

Fluctuations of Flats’ Prices in Poznań during 1999-2008

The main aim of the paper is to identify price fluctuations on the secondary housing market in the years 1996-2008 in Poznan. The paper is divided into three parts. In the first part the time series components are analyzed. Then the methods of business cycles analysis are applied to house prices fluctuations on the local markets. The third part of the paper contains analysis of fluctuation of flats’ prices in Poznan in the years 1996-2008.