The Effect of Revitalisation on the Value of Residential Premises in Historic Urban Layouts

Bieda Agnieszka () and Maniak Weronika ()
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Bieda Agnieszka: Department of Photogrammetry, Remote Sensing of Environment and Spatial Engineering, Faculty of Geo-Data Science, Geodesy, and Environmental Engineering, AGH University of Krakow, al. Adama Mickiewicza 30, 30-059 Kraków, Poland
Maniak Weronika: Kataster – surveying and cartographic services, Buchcice, Poland

Real Estate Management and Valuation, 2024, vol. 32, issue 1, 95-113

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.

Keywords: heritage; market analysis; residential premises; revitalization program; value map (search for similar items in EconPapers)
JEL-codes: O18 R39 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:32:y:2024:i:1:p:95-113:n:7

DOI: 10.2478/remav-2024-0011

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