The Dynamics of Real Estate Field of Value

Kuryj-Wysocka Oksana (), Kuryj Jan () and Radosław Wiśniewski
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Kuryj-Wysocka Oksana: Faculty of Geodesy and Land Management University of Warmia and Mazury in Olsztyn
Kuryj Jan: Faculty of Geodesy and Land Management University of Warmia and Mazury in Olsztyn

Real Estate Management and Valuation, 2014, vol. 22, issue 4, 105-113

Abstract: Property is worth only as much as market participants are willing to pay for it - that is as much as the potential of the property. Determining the potential of real estate is an extremely difficult task, because certain properties can be viewed in different ways. A person’s attitude towards a given real estate finds reflection in the value of the property.Accordingly, the value of a property appears only when there is a relation of value, such as when the property catches the buyer’s attention. This article raises important issues which determine the value of real estate. It reveals the value of property as a multidimensional category (spatial, economic etc.). The concept of value is characterized by peculiar dynamics; therefore, the value of a property is also characterized by dynamic traits.In order to confirm the above thesis it is essential to isolate the most important factors that create the “field of value” and to examine how individual determinants influence the potential of the property.The purpose of this study is to examine whether changes in the local real estate market influence the dynamics of property values. In order to achieve this objective, research was carried out on a local real estate market. As a result of the research, indicators characterizing the dynamics of value were determined.

Keywords: real estate; fields of value; attractive locations (search for similar items in EconPapers)
JEL-codes: C10 D40 R11 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:22:y:2014:i:4:p:105-113:n:10

DOI: 10.2478/remav-2014-0041

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