From Administrative Price to Market Value of Real Estate. The Evolution of the Valuation System in Poland

Źróbek Sabina (), Renigier-Biłozor Małgorzata () and Źróbek Ryszard ()
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Źróbek Sabina: Faculty of Geoengineering, University of Warmia and Mazury in Olsztyn, ul. Michała Oczapowskiego 2, 10-719 Olsztyn, Poland
Renigier-Biłozor Małgorzata: Faculty of Geoengineering, University of Warmia and Mazury in Olsztyn, ul. Michała Oczapowskiego 2, 10-719 Olsztyn, Poland
Źróbek Ryszard: Faculty of Geoengineering, University of Warmia and Mazury in Olsztyn, ul. Michała Oczapowskiego 2, 10-719 Olsztyn, Poland

Real Estate Management and Valuation, 2024, vol. 32, issue 3, 127-142

Abstract: The article applies the method of historical research, using a temporal perspective dating back to 1985, to trace the evolution of market valuation principles for real estate in Poland. These principles evolved similarly to those in many other post-socialist countries, influenced by political and socio-economic transformations and the resulting list of objectives for which these values became essential. The changing legal regulations allowing for the emergence and development of a free real estate market played a decisive role in this process. It was also a period of preparing real estate valuation professionals to meet these requirements. Today, the methodology of valuation, under increasing pressure from various real estate market entities and the rapid advancement of intelligent data collection and processing technologies, is undergoing further evolution. In many countries, including Poland, lively discussions and disputes are ongoing regarding the legal authorization of statistical tools and automated valuation models in valuation practice. These possibilities are being considered particularly in the context of mass property valuations for tax purposes. The methodology involves the analysis of Polish legal provisions, foreign literature, and documents proving the gradual marketization of valuation principles.

Keywords: evolution of valuation methodology; market value; cadastral value; real estate market; mass appraisal (search for similar items in EconPapers)
JEL-codes: R29 R30 R38 (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:3:p:127-142:n:1010

DOI: 10.2478/remav-2024-0030

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