Abstract In recent years, a lot of empirical effort has been made to search for potential nonlinear responses of house prices to various demand and supply factors. This paper examines Poland's heterogeneous regional housing market reactions to key economic variables from 2000 to 2022. The study raises two research questions related to the asymmetric adjustment of housing markets to selected demand and supply shocks. Firstly, we ask whether the house price adjustments to negative shocks are relatively minor (for example, during an economic downturn) when compared to positive shocks (prevalent in booming markets), mainly due to the loss aversion behavior theory and nominal rigidity of house prices. In particular, we test the hypothesis that house prices react more to positive impulses from supply and demand than negative ones. Secondly, we investigate whether market reactions are similar for large and small metropolitan markets. The second hypothesis posits that metropolitan housing markets adjust asymmetrically to demand and supply shocks based on the city size (population and housing stock in a given city). The study uses a nonlinear ARDL model to test the research hypotheses empirically. This paper provides new insights into the nonlinear reactions of house prices to exogenous shocks and adds to the limited empirical evidence from less developed economies.
{"title":"Supply, Demand and Asymmetric Adjustment of House Prices in Poland","authors":"Michał Głuszak, R. Trojanek","doi":"10.2478/remav-2024-0013","DOIUrl":"https://doi.org/10.2478/remav-2024-0013","url":null,"abstract":"Abstract In recent years, a lot of empirical effort has been made to search for potential nonlinear responses of house prices to various demand and supply factors. This paper examines Poland's heterogeneous regional housing market reactions to key economic variables from 2000 to 2022. The study raises two research questions related to the asymmetric adjustment of housing markets to selected demand and supply shocks. Firstly, we ask whether the house price adjustments to negative shocks are relatively minor (for example, during an economic downturn) when compared to positive shocks (prevalent in booming markets), mainly due to the loss aversion behavior theory and nominal rigidity of house prices. In particular, we test the hypothesis that house prices react more to positive impulses from supply and demand than negative ones. Secondly, we investigate whether market reactions are similar for large and small metropolitan markets. The second hypothesis posits that metropolitan housing markets adjust asymmetrically to demand and supply shocks based on the city size (population and housing stock in a given city). The study uses a nonlinear ARDL model to test the research hypotheses empirically. This paper provides new insights into the nonlinear reactions of house prices to exogenous shocks and adds to the limited empirical evidence from less developed economies.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"60 44","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139127268","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Housing deprivation is a multidimensional concept that can be measured using various indicators. This study focuses on severe housing deprivation and its components – overcrowding and housing conditions problems. Severe housing deprivation means the failure to meet basic housing needs. Eurostat defines it as the simultaneous occurrence of overcrowding and housing conditions problems. All analyzed indicators of housing deprivation are based on European Union Statistics on Income and Living Conditions (EUSILC) 2019 survey data. The study covers households in Poland – a country facing serious problems of housing deprivation. In fact, three dimensions of housing deprivation are examined: experiencing only housing conditions problems, experiencing only overcrowding, and being severely housing deprived. The study aims to investigate the prevalence of three-dimensional housing deprivation and reveal which socioeconomic features of the household are associated with the analyzed phenomenon. To achieve these purposes, the multinomial logit model was used to assess the average marginal effects for explanatory variables. It was found that the significant factors associated with housing deprivation are tenure status, dwelling type, household income, average age of household members, their level of educational achievement, presence of disabled and unemployed people, and household type.
{"title":"Housing Deprivation Among Polish Households: Prevalence and Associated Factors","authors":"Hanna Dudek, Agnieszka Wojewódzka-Wiewiórska","doi":"10.2478/remav-2024-0015","DOIUrl":"https://doi.org/10.2478/remav-2024-0015","url":null,"abstract":"Abstract Housing deprivation is a multidimensional concept that can be measured using various indicators. This study focuses on severe housing deprivation and its components – overcrowding and housing conditions problems. Severe housing deprivation means the failure to meet basic housing needs. Eurostat defines it as the simultaneous occurrence of overcrowding and housing conditions problems. All analyzed indicators of housing deprivation are based on European Union Statistics on Income and Living Conditions (EUSILC) 2019 survey data. The study covers households in Poland – a country facing serious problems of housing deprivation. In fact, three dimensions of housing deprivation are examined: experiencing only housing conditions problems, experiencing only overcrowding, and being severely housing deprived. The study aims to investigate the prevalence of three-dimensional housing deprivation and reveal which socioeconomic features of the household are associated with the analyzed phenomenon. To achieve these purposes, the multinomial logit model was used to assess the average marginal effects for explanatory variables. It was found that the significant factors associated with housing deprivation are tenure status, dwelling type, household income, average age of household members, their level of educational achievement, presence of disabled and unemployed people, and household type.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"13 12","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139129553","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The aim of this research was to analyze the effects of revitalization activities performed in a selected historical urban layout using the mixed method in which statistical analysis was supported by Geographic Information System (GIS) tools on the price level of residential premises on the secondary market. The subject of the analyses is “Old” Nowa Huta (Krakow, Poland), which was designed as an ideal independent city in the mid-20th century. The analysis covered the period from January 1, 2007 to December 31, 2020. The conducted analyses have demonstrated that the transaction prices (and hence the value) of residential premises located in “Old” Nowa Huta increased during the performed revitalization activities. However, based on the results obtained, it could not be confirmed that this was the direct result of the revitalization itself, because the price level within the research site increased in proportion to the rising prices in the entire city. It seems, however, that although the changes in the quality of space in the analyzed area are not spectacular, they serve to improve the quality of life of the local community and are one of the ways to protect this historic urban layout.
{"title":"The Effect of Revitalisation on the Value of Residential Premises in Historic Urban Layouts","authors":"A. Bieda, Weronika Maniak","doi":"10.2478/remav-2024-0011","DOIUrl":"https://doi.org/10.2478/remav-2024-0011","url":null,"abstract":"Abstract The aim of this research was to analyze the effects of revitalization activities performed in a selected historical urban layout using the mixed method in which statistical analysis was supported by Geographic Information System (GIS) tools on the price level of residential premises on the secondary market. The subject of the analyses is “Old” Nowa Huta (Krakow, Poland), which was designed as an ideal independent city in the mid-20th century. The analysis covered the period from January 1, 2007 to December 31, 2020. The conducted analyses have demonstrated that the transaction prices (and hence the value) of residential premises located in “Old” Nowa Huta increased during the performed revitalization activities. However, based on the results obtained, it could not be confirmed that this was the direct result of the revitalization itself, because the price level within the research site increased in proportion to the rising prices in the entire city. It seems, however, that although the changes in the quality of space in the analyzed area are not spectacular, they serve to improve the quality of life of the local community and are one of the ways to protect this historic urban layout.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"4 3‐4","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139005014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The article presents the development of the modern warehouse real estate market in Poland (from 2004 to 2022). The reference area is the European market. Against its background, Poland has become a fast-growing bank next to Germany and the fifth largest in terms of modern warehouse space. This happened despite the unstable and unpredictable macroeconomic and political situation in recent years, as well as the dangerous epidemic effects, e.g. connecting supply chains. The article is an attempt to find the sources of success of this Polish phenomenon, the search for a specific spatial configuration of the market and short- and long-term perspectives for the development of the warehouse market in Poland.
{"title":"The Phenomenon of the Polish Warehouse Real Estate Market – Sources of Success and Prospects for Development","authors":"W. W. Budner","doi":"10.2478/remav-2023-0031","DOIUrl":"https://doi.org/10.2478/remav-2023-0031","url":null,"abstract":"Abstract The article presents the development of the modern warehouse real estate market in Poland (from 2004 to 2022). The reference area is the European market. Against its background, Poland has become a fast-growing bank next to Germany and the fifth largest in terms of modern warehouse space. This happened despite the unstable and unpredictable macroeconomic and political situation in recent years, as well as the dangerous epidemic effects, e.g. connecting supply chains. The article is an attempt to find the sources of success of this Polish phenomenon, the search for a specific spatial configuration of the market and short- and long-term perspectives for the development of the warehouse market in Poland.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"41 3","pages":"65 - 72"},"PeriodicalIF":0.8,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138626957","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Changes in administrative structures in post-communist countries after the change of the political system resulted in the division of tasks performed by public administration. Local self-governments were established and the tasks of meeting the needs of local communities, including the housing needs, became their responsibility. The aim of this research paper is to examine whether these tasks are actually being implemented and to analyze the measures taken by municipalities in this respect. Real estate management was analyzed in terms of selling residential premises by way of tender and without a tender procedure, as well as purchasing residential premises for the implementation of the municipal tasks. The research was carried out on the example of the Municipality of Krakow in the years 2015-2022. The results of the analyses were compared with the results of the research carried out in the Municipality of Oradea in Romania. The data collected in these two municipalities in two different countries revealed completely different approaches of the local authorities to the analyzed issue. In Krakow, the local authorities have developed a long-term programme for managing the municipal housing resources, which is consistently being implemented. The local authorities in Oradea do not take any action to increase the number of available residential premises, or even to renovate them. Instead, they expect action to be taken by the National Housing Agency or private companies.
{"title":"Management of Municipal Housing Resources By Local Authorities in the Municipalities of Krakow (Poland) and Oradea (Romania) – A Comparative Study","authors":"A. Trembecka, Gabriela Droj, A. Kwartnik-Pruc","doi":"10.2478/remav-2023-0027","DOIUrl":"https://doi.org/10.2478/remav-2023-0027","url":null,"abstract":"Abstract Changes in administrative structures in post-communist countries after the change of the political system resulted in the division of tasks performed by public administration. Local self-governments were established and the tasks of meeting the needs of local communities, including the housing needs, became their responsibility. The aim of this research paper is to examine whether these tasks are actually being implemented and to analyze the measures taken by municipalities in this respect. Real estate management was analyzed in terms of selling residential premises by way of tender and without a tender procedure, as well as purchasing residential premises for the implementation of the municipal tasks. The research was carried out on the example of the Municipality of Krakow in the years 2015-2022. The results of the analyses were compared with the results of the research carried out in the Municipality of Oradea in Romania. The data collected in these two municipalities in two different countries revealed completely different approaches of the local authorities to the analyzed issue. In Krakow, the local authorities have developed a long-term programme for managing the municipal housing resources, which is consistently being implemented. The local authorities in Oradea do not take any action to increase the number of available residential premises, or even to renovate them. Instead, they expect action to be taken by the National Housing Agency or private companies.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"8 3","pages":"23 - 35"},"PeriodicalIF":0.8,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138625299","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Elsa Sapphira Victor, Muhammad Najib Razali, H. Ali
Abstract This study evaluated the dynamics of Real Estate Investment Trusts (REITs) in Pan-Asian countries impacted by COVID-19. The countries comprised Malaysia, Thailand, Indonesia, Singapore, Vietnam, South Korea, Japan, China, the Philippines, and Hong Kong. The study aimed to understand how the global crisis affected the real estate industry, specifically publicly traded companies. The COVID-19 pandemic significantly impacted many industries worldwide, including real estate. It caused changes in supply and demand dynamics, disrupted business operations and affected economic activity. The pandemic has also caused a general economic slowdown, with businesses struggling and unemployment rates increasing in some countries in Asia. This in turn has led to reduced consumer spending and lower demand for all types of properties, impacting the overall performance of the Asian REITs market. This study employed techniques such as Sharpe ratio, variance ratio, and Analysis of Variance (ANOVA) to highlight the dynamics of Asian REITs towards the impact of COVID-19. The findings revealed that all Asian countries were severely impacted by COVID-19, with Japan REITs experiencing the highest drop and Taiwan REITs experiencing the lowest decline.
{"title":"The Dynamics of the Impact of the Covid-19 Pandemic on Pan-Asia’s Real Estate Investment Trusts","authors":"Elsa Sapphira Victor, Muhammad Najib Razali, H. Ali","doi":"10.2478/remav-2023-0026","DOIUrl":"https://doi.org/10.2478/remav-2023-0026","url":null,"abstract":"Abstract This study evaluated the dynamics of Real Estate Investment Trusts (REITs) in Pan-Asian countries impacted by COVID-19. The countries comprised Malaysia, Thailand, Indonesia, Singapore, Vietnam, South Korea, Japan, China, the Philippines, and Hong Kong. The study aimed to understand how the global crisis affected the real estate industry, specifically publicly traded companies. The COVID-19 pandemic significantly impacted many industries worldwide, including real estate. It caused changes in supply and demand dynamics, disrupted business operations and affected economic activity. The pandemic has also caused a general economic slowdown, with businesses struggling and unemployment rates increasing in some countries in Asia. This in turn has led to reduced consumer spending and lower demand for all types of properties, impacting the overall performance of the Asian REITs market. This study employed techniques such as Sharpe ratio, variance ratio, and Analysis of Variance (ANOVA) to highlight the dynamics of Asian REITs towards the impact of COVID-19. The findings revealed that all Asian countries were severely impacted by COVID-19, with Japan REITs experiencing the highest drop and Taiwan REITs experiencing the lowest decline.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":" 8","pages":"11 - 22"},"PeriodicalIF":0.8,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138619924","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Turkey is one of those countries where housing market has been most severely affected by COVID-19 pandemic. Today the effects of the outbreak have been eliminated significantly. This study retrospectively looks at the days when the world faced a widespread outbreak of a pandemic and investigates the effect of the pandemic and the changes in consumer confidence on housing prices and the volatility of housing prices. Considering the structural breaks in the analysis period (2010:q1-2022:q4 quarterly), we used the Lee and Strazicich structural break unit root test as a research method. The results show that an increase in costs due to a break in the supply chain and containment measures forcing the workforce to stay at home affected the housing supply adversely. It is observable that expansionary economic policies and social assistance programs have a positive effect on housing demand. In this regard, negative supply shock and positive demand pressure are seen to be the determinants of the recent housing price increases in Turkey. However, while there is a positive relationship between consumer confidence and house prices, the effect of house prices on the volatility is statistically insignificant.
土耳其是房地产市场受COVID-19大流行影响最严重的国家之一。今天，疫情的影响已大大消除。本研究回顾了世界面临大流行爆发的日子，并调查了大流行的影响以及消费者信心的变化对房价和房价波动的影响。考虑到分析期内的结构性断裂(2010:q1-2022:q4季度)，我们采用了Lee and Strazicich结构断裂单位根检验作为研究方法。结果表明，供应链中断导致的成本增加以及迫使劳动力留在家中的遏制措施对住房供应产生了不利影响。可以观察到，扩张性经济政策和社会救助计划对住房需求有积极影响。在这方面，负面的供应冲击和积极的需求压力被认为是土耳其最近房价上涨的决定因素。然而，虽然消费者信心与房价之间存在正相关关系，但房价对波动性的影响在统计上不显著。
{"title":"Why Did Housing Prices Rise to a Record Level in Turkey? An Empirical Analysis","authors":"Reha Z. Yaşar, Erdem Bulut","doi":"10.2478/remav-2023-0025","DOIUrl":"https://doi.org/10.2478/remav-2023-0025","url":null,"abstract":"Abstract Turkey is one of those countries where housing market has been most severely affected by COVID-19 pandemic. Today the effects of the outbreak have been eliminated significantly. This study retrospectively looks at the days when the world faced a widespread outbreak of a pandemic and investigates the effect of the pandemic and the changes in consumer confidence on housing prices and the volatility of housing prices. Considering the structural breaks in the analysis period (2010:q1-2022:q4 quarterly), we used the Lee and Strazicich structural break unit root test as a research method. The results show that an increase in costs due to a break in the supply chain and containment measures forcing the workforce to stay at home affected the housing supply adversely. It is observable that expansionary economic policies and social assistance programs have a positive effect on housing demand. In this regard, negative supply shock and positive demand pressure are seen to be the determinants of the recent housing price increases in Turkey. However, while there is a positive relationship between consumer confidence and house prices, the effect of house prices on the volatility is statistically insignificant.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"56 7","pages":"1 - 10"},"PeriodicalIF":0.8,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138626398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This paper presents the concept and methodology for assessing the market potential of local convenience shops in spatial terms. The methods concerned are based on spatial analyses using information derived from open data concerning local population density and competing establishments. The study focused on four main stages, including the estimation of shop density, population density, the compilation of a market potential map, and data reclassification to identify the potential for the location of new shops. The area under study comprised three cities: Łódź, Poznań, and Wrocław. The results of the study suggest that a high market potential does not concern the most populated areas but less populated ones, which is mainly due to much less competition. It was also indicated that the study may serve an important role in terms of sustainable urban development and an improvement in the inhabitants’ quality of life.
{"title":"Local Amenities – Spatial Modelling of Market Potential Based on Open Data","authors":"R. Cellmer","doi":"10.2478/remav-2023-0030","DOIUrl":"https://doi.org/10.2478/remav-2023-0030","url":null,"abstract":"Abstract This paper presents the concept and methodology for assessing the market potential of local convenience shops in spatial terms. The methods concerned are based on spatial analyses using information derived from open data concerning local population density and competing establishments. The study focused on four main stages, including the estimation of shop density, population density, the compilation of a market potential map, and data reclassification to identify the potential for the location of new shops. The area under study comprised three cities: Łódź, Poznań, and Wrocław. The results of the study suggest that a high market potential does not concern the most populated areas but less populated ones, which is mainly due to much less competition. It was also indicated that the study may serve an important role in terms of sustainable urban development and an improvement in the inhabitants’ quality of life.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"117 27","pages":"57 - 64"},"PeriodicalIF":0.8,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138609235","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Various research methods can be used to collect housing market data and predict housing prices. The online search activity of Internet users is a novel and highly interesting measure of social behavior. In the present study, dwelling prices in Poland were analyzed based on aggregate data from seven Polish cities relative to the number of online searches for the keyword dwelling tracked by Google Trends, as well as several classical macroeconomic indicators. The analysis involved a vector autoregressive (VAR) model and the Granger causality test. The results of the study suggest that the volume of online searches returned by Google Trends is an effective predictor of housing price dynamics, and that unemployment and economic growth are important additional variables.
{"title":"Predicting Housing Price Trends in Poland: Online Social Engagement - Google Trends","authors":"M. Bełej","doi":"10.2478/remav-2023-0032","DOIUrl":"https://doi.org/10.2478/remav-2023-0032","url":null,"abstract":"Abstract Various research methods can be used to collect housing market data and predict housing prices. The online search activity of Internet users is a novel and highly interesting measure of social behavior. In the present study, dwelling prices in Poland were analyzed based on aggregate data from seven Polish cities relative to the number of online searches for the keyword dwelling tracked by Google Trends, as well as several classical macroeconomic indicators. The analysis involved a vector autoregressive (VAR) model and the Granger causality test. The results of the study suggest that the volume of online searches returned by Google Trends is an effective predictor of housing price dynamics, and that unemployment and economic growth are important additional variables.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":" 4","pages":"73 - 87"},"PeriodicalIF":0.8,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138615270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The paper presents the impact of market characteristics on the rental rate of apartments and compares the levels of the offered rental rate in two selected cities: Rzeszów and Lublin. The analyses were conducted before and during Russia's aggression against Ukraine, based on residential rental offers. Data on the offer of residential premises for rent, posted on online portals in the period from November 2021, to April 2022, was used. The analyses showed an increase in rental prices in March 2022, mainly in Rzeszów, and similar correlations of the impact of characteristics on the market rental rate in both cities in relation to the area of the unit, the number of rooms, the location on the floor, the condition of the flat and the age of the building.
{"title":"Apartment Rental Market in Rzeszów and Lublin at the Turn of 2021-2022","authors":"M. Hełdak, Ewelina Pieszko, L. Kucher","doi":"10.2478/remav-2023-0029","DOIUrl":"https://doi.org/10.2478/remav-2023-0029","url":null,"abstract":"Abstract The paper presents the impact of market characteristics on the rental rate of apartments and compares the levels of the offered rental rate in two selected cities: Rzeszów and Lublin. The analyses were conducted before and during Russia's aggression against Ukraine, based on residential rental offers. Data on the offer of residential premises for rent, posted on online portals in the period from November 2021, to April 2022, was used. The analyses showed an increase in rental prices in March 2022, mainly in Rzeszów, and similar correlations of the impact of characteristics on the market rental rate in both cities in relation to the area of the unit, the number of rooms, the location on the floor, the condition of the flat and the age of the building.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":" 580","pages":"45 - 56"},"PeriodicalIF":0.8,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138611016","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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