Duration of the Rental Offer for Residential Property

Abstract

Abstract The rental market in Poland is underdeveloped, not subject to any statutory registers, and based primarily on small, private owners. The article estimates the duration of residential rental properties that have been reported to the listing exchange system using duration methods. Duration methods also allow the analysis to include those properties that were not rented at the time the analysis was completed, but their owners continued to report their willingness to rent. The article presents the results of the analysis of how long it takes to rent an apartment over the entire analysis period and in each year separately. The presented study is the first to examine the duration of residential real estate offerings for rent in the Polish market. Considering the entire analysis period, 25% of the reported apartments were rented in 7.3 weeks. The fastest 25% of rental offers were successful (rented) in 2019 – 4.86 weeks. The longest apartment owners waited for a tenant was in 2020 – more than 8 weeks, which was undoubtedly influenced by the lockdown of the entire country, and the change in the organization of work and study (remote work and studies, which did not require being in the city).