 STATISTICAL ANALYSIS OF CRACOW REAL ESTATE MARKET IN 2004-2007Sabina Denkowska, Marcin Salamaga, Andrzej Soko_owski and Sebastian Sit ERES from European Real Estate Society (ERES) Abstract: Statistical data base covered more than 8000 sale transactions of apartments in the city of Cracow. The presented analysis of this data consists of five parts: - trends in the price of 1 m2 for the whole city and separately in four districts. Different functions have been fit to the price time series, and then they were used for forecasting purpose; - regression analysis of the influence of area, location, and submarket type on the price; spatial analysis of the price on the primary and secondary markets; - search for the theoretical model of time-constant price distribution; - cluster analysis of apartments sold. // Different approaches allowed to analyze the Cracow real estate market from different perspectives. The observed growth of prices until 2007 could be described by an exponential function which cannot serve as forecasting tool since some turning point is clearly observed recently. There are significant differences in prices in districts of Cracow. Some other important factors have been also found. The apartments are not a homogenous set. Five groups have been found by cluster analysis. These groups can be characterized also by some outside attributes which were not applied for clustering. JEL-codes: R3 (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2008_133 Access Statistics for this paper More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.