Warianty tytułu
Języki publikacji
Abstrakty
Purpose -The purpose of this article is to present changes in supply and demand as well as price developments in the primary residential property market of the largest agglomerations in Poland in recent years as well as the major determinants of the observed trends, both of a market and social nature.
Design/methodology/approach - The study mainly uses the method of analysis and evaluation of secondary data on the primary residential property market, coming from reports and studies, such as the National Bank of Poland, the Central Statistical Office, the Polish Bank Association, the AMRON Centre, the Polish Financial Supervision Authority. In particular, a diagnosis was made of the existing state of the housing market, taking into account its spatial analysis for the main agglomerations of Poland. Also, the main groups of factors stimulating and limiting the development of the examined segment of the real estate market were identified.
Findings - The results of the research performed clearly indicate a very high demand pressure caused by investing in residential premises/houses both cash withdrawn by purchasers from unattractive interest-bearing bank deposits and funds coming from historically today's 'cheapest' bank loans. Moreover, especially in the period of the pandemic and the associated temporary ban on movement, a strong interest in premises and houses with their own gardens and recreational plots has emerged.
Research implications - The analyses conducted imply the need for a broader study of the impact of the Covid-19 pandemic on changes taking place in the housing market and on the financing of transactions concluded in it in the long term. Furthermore, it is worth monitoring the changes taking place with regard to the risk of a price bubble and the consequences of implementing new solutions aimed at supporting activity in the housing market. (original abstract)
Design/methodology/approach - The study mainly uses the method of analysis and evaluation of secondary data on the primary residential property market, coming from reports and studies, such as the National Bank of Poland, the Central Statistical Office, the Polish Bank Association, the AMRON Centre, the Polish Financial Supervision Authority. In particular, a diagnosis was made of the existing state of the housing market, taking into account its spatial analysis for the main agglomerations of Poland. Also, the main groups of factors stimulating and limiting the development of the examined segment of the real estate market were identified.
Findings - The results of the research performed clearly indicate a very high demand pressure caused by investing in residential premises/houses both cash withdrawn by purchasers from unattractive interest-bearing bank deposits and funds coming from historically today's 'cheapest' bank loans. Moreover, especially in the period of the pandemic and the associated temporary ban on movement, a strong interest in premises and houses with their own gardens and recreational plots has emerged.
Research implications - The analyses conducted imply the need for a broader study of the impact of the Covid-19 pandemic on changes taking place in the housing market and on the financing of transactions concluded in it in the long term. Furthermore, it is worth monitoring the changes taking place with regard to the risk of a price bubble and the consequences of implementing new solutions aimed at supporting activity in the housing market. (original abstract)
Twórcy
autor
- Nicolaus Copernicus University in Toruń, Poland
Bibliografia
- Act of 14 April 2016 on the Suspension of the Sale of Properties of the Agricultural Property Stock of the State Treasury and on the Amendment of Certain Acts, which Prevents the Purchase of Agricultural Land from the State Resources with an Area of More than 2 Hectares (Journal of Laws of 2018, item 869, as amended).
- Act of 29 August 2014 on the Energy Performance of Buildings (Journal of Laws of 2021, item 497).
- Aliefendioğlu, Y., Tanrivermis, H., & Salami, M. A. (2021). House Price Index (HPI) and Covid-19 Pandemic Shocks: Evidence from Turkey and Kazakhstan. International Journal of Housing Markets and Analysis, aheadof-print. https://doi.org/10.1108/IJHMA-10-2020-0126.
- Allen-Coghlan, M., & McQuinn, K. M. (2021). The Potential Impact of Covid-19 on the Irish Housing Sector. International Journal of Housing Markets and Analysis, 14(4), 636-651. https://doi.org/10.1108/IJHMA-05-2020-0065.
- AMRON (2021a). Ogólnopolski raport o kredytach mieszkaniowych i cenach transakcyjnych nieruchomości 2/2021, Raport nr 48. Centrum Amron, Warszawa.
- AMRON (2021b). Ogólnopolski raport o kredytach mieszkaniowych i cenach transakcyjnych nieruchomości 3/2021, Raport nr 49. Centrum Amron, Warszawa.
- Anenberg, E., & Scharlemann, T. (2021). The Effect of Mortgage Forbearance on House Prices During COVID-19, FEDS Notes. Washington: Board of Governors of the Federal Reserve System, March 19, https://doi.org/10.17016/2380-7172.2872.
- Balemi, N., Füss, R., & Weigand, A. (2021). COVID-19's Impact on Real Estate Markets: Review and Outlook. Financial Markets and Portfolio Management, 35, 495-513. https://doi.org/10.1007/s11408-021-00384-6.
- Bartik, A. W., Bertrand, M., Cullenc, Z., Glaeser, E. L., Luca, M., & Stanton, C. (2020). The Impact of COVID-19 on Small Business Outcomes and Expectations. Proceedings of the National Academy of Sciences, 117(30), 17656-17666.
- Battistini, N., Falagiarda, M., Gareis, J., Hackmann, A., & Roma, M. (2021). The Euro Area Housing market during the COVID-19 pandemic. ECB Economic Bulletin, 7. Retrieved on 6/09/2021, from: https://www-ecb-europaeu.translate.goog/pub/economicbulletin/articles/2021/html/ecb.ebart202107_03~36493e7b67.en.html?_x_tr_sl=en&_x_tr_tl=pl&_x_tr_hl=pl&_x_tr_pto=sc.
- Bloom, J. (2020). Coronavirus May Have Huge Impact on Property Markets. BBC. Retrieved on 6/09/2021, from: https://www.bbc.com/news/business52977890.
- Bricongne, J.-Ch., Meunier, B., & Pouget, S. (2021). Web Scraping Housing Prices in Real-time: the Covid-19 Crisis in the UK. Working Paper, Banque de France, August, WP
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171636388
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.