The influence of characteristics of estate developer’s apartments on the chance of selling them

Arkadiusz Kuświk (), Łukasz Mach (), Łukasz Mikołajczyk () and Marian Drymluch ()
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Arkadiusz Kuświk: WSB University in Wrocław; Narodowy Bank Polski, Regional Branch in Opole
Łukasz Mach: Opole University of Technology, Faculty of Economics Management; Narodowy Bank Polski, Regional Branch in Opole
Łukasz Mikołajczyk: WSB University in Wrocław; Narodowy Bank Polski, Regional Branch in Opole
Marian Drymluch: University of Opole

Bank i Kredyt, 2021, vol. 52, issue 2, 167-190

Abstract: This article examines the influence of characteristics of new apartments in Opole on the chance of selling them within 83 days following putting them up for sale. The proposed period of the apartments’ availability on offer was determined as the lower quartile of their selling time. The research was conducted on a sample of 520 transactions concluded in Opole on the market of estate developer’s apartments in the years 2018–2019. In order to accomplish the goal, properties of logistic regression were used. Out of all the variables used, three quantitative features proved statistically significant: unit price of the apartment, price of one square metre and time necessary to cover the distance from the apartment to the city centre (the Town Hall). None of the qualitative variables used in the modelling, despite their significance for preferences on the part of purchasers, satisfies the assumptions on the level of significance. Although the quantitative and qualitative characteristics that were not included in the model are not specified, they find their reflection in the transaction price of one square metre.

Keywords: housing market; estate developer’s market; logistic regression; TOM (time on market) (search for similar items in EconPapers)
JEL-codes: C13 C35 R21 R3 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:nbp:nbpbik:v:52:y:2021:i:2:p:167-190

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