An Unequal Reaction of Housing Starts to House Prices in Different Regions of Poland

• Autorzy: Krzysztof Olszewski , Jacek Łaszek , Joanna Waszczuk

Warianty tytułu

Nierównomierne reakcje podażowe deweloperów na zmiany ceny mieszkań w różnych regionach Polski

• Języki publikacji: EN

Abstrakty

EN

In this article, we examine the developer's decisions regarding construction under process in relation to prices in the 16 voivodeship capital cities, i.e. the biggest real estate markets in Poland. Our aim is to determine whether developers react in a similar fashion in different voivodeship capital cities, or whether significant differences can be observed. The problem of housing availability is important for the mobility of workers and, therefore, is an important factor of sustainable regional development for Poland. We study the correlation of leads and lags of cycles in house prices in the primary and secondary market and wages with the cycles of new construction under way. We find that for the biggest markets there is a strong correlation between the lags of secondary housing market prices with construction under way. However, no clear pattern can be observed for the smaller markets, which calls for further research. (original abstract)

W niniejszym artykule analizujemy zagregowane reakcje deweloperów dotyczące budowy mieszkań w toku w odniesieniu do cen w 16 miastach wojewódzkich, czyli na największych rynkach nieruchomości w Polsce. Naszym celem jest ustalenie, czy deweloperzy w różnych miastach wojewódzkich reagują na bodźce w podobny sposób czy też można zaobserwować istotne różnice. Działania deweloperów są ważne, gdyż jedynie nowe budownictwo może zlikwidować niedobór mieszkań. Problem dostępności mieszkań ma znaczenie dla mobilności pracowników, jest zatem ważnym czynnikiem zrównoważonego rozwoju regionalnego Polski. (skrócony abstrakt oryginalny)

Słowa kluczowe

EN

Developer; Real estate prices; Market reaction; Supply; Correlation analysis

PL

Deweloper; Ceny nieruchomości; Reakcja rynku; Podaż; Analiza korelacji

• Czasopismo: Bank i Kredyt
• Rocznik: 2023
• Numer: nr 4
• Strony: 437--458

Twórcy

autor

Krzysztof Olszewski

• Warsaw School of Economics, Poland

autor

Jacek Łaszek

• Warsaw School of Economics

autor

Joanna Waszczuk

• Warsaw School of Economics

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