Changes On the Housing Market of the Downtown Area in Selected Polish Cities

Rącka Izabela (), Palicki Sławomir (), Krajewska Małgorzata (), Szopińska Kinga () and Kempa Olgierd ()
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Rącka Izabela: Faculty of Social Sciences and Humanities The President Stanisław Wojciechowski State University of Applied Sciences in Kalisz, Kalisz, Poland
Palicki Sławomir: Faculty of Management Poznań University of Economics and Business, Poznan, Poland
Krajewska Małgorzata: Faculty of Economic Sciences and Management Nicolaus Copernicus University in Torun, Torun, Poland
Szopińska Kinga: Faculty of Civil and Environmental Engineering and Architecture UTP University of Science and Technology, Bydgoszcz, Poland
Kempa Olgierd: Faculty of Environmental Engineering and Geodesy Wroclaw University of Environmental and Life Sciences, Wroclaw, Poland

Real Estate Management and Valuation, 2017, vol. 25, issue 2, 79-90

Abstract: Large Polish cities are currently dealing with an increasing significance of downtown areas, extending outside of the city centers (meaning the area directly surrounding the city square). The downtown alone seems to influence the fate of entire cities, facilitating their success or contributing to their failure. A good demographic, social and economic condition of a downtown, its positive image and the dynamic development of the part of the city perceived as the business and administration centre and a meeting place of residents and tourists, contribute to the image and potential of the whole city to a great extent. Changes in urban surroundings, the signs of which may be observed in spatial, aesthetic, architectural, urban-planning and socio-economic aspects, determine the functioning and condition of local real estate markets. Whether potential buyers consider the real estate attractive depends on the assessment of its significant features, of which transaction price is representative. The main research objective of the article is the identification, assessment and interpretation of differences in prices registered in the years 2009-2014 in downtown residential real estate markets. These considerations have been referred to analogical phenomena within the entire cities under examination. The detailed research objective is an attempt to explain the sources of individual reactions of the analyzed real estate markets in downtown areas. The cities under research include: Bydgoszcz, Kalisz, Toruń and Wrocław. The authors applied quantitative analysis (statistical, comparative) to transaction data registered in local residential real estate markets.

Keywords: housing; residential; urban; downtown; prices (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:25:y:2017:i:2:p:79-90:n:7

DOI: 10.1515/remav-2017-0015

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