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Cointegration of Property Prices in Poland

Author

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  • Krzysztof DRACHAL

    (Warsaw University of Technology, Poland)

Abstract

This paper presents the analysis of cointegration between offer prices and transactional prices on both primary and secondary local real estate markets. 17 Polish biggest cities are considered and the period between 2006 and 2013. Generally, it is found that primary and secondary markets are not cointegrated.

Suggested Citation

  • Krzysztof DRACHAL, 2015. "Cointegration of Property Prices in Poland," Expert Journal of Economics, Sprint Investify, vol. 3(1), pages 1-4.
    • Handle: RePEc:exp:econcs:v:3:y:2015:i:1:p:1-4
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    References listed on IDEAS

    as
    1. Drachal Krzysztof, 2014. "Property Prices and Regional Labor Markets in Poland," The European Journal of Applied Economics, Sciendo, vol. 11(1), pages 5-15, April.
    2. Krzysztof Olszewski & Robert Leszczyński, 2013. "Panel analysis of home prices in the primary and secondary market in 17 largest cities in Poland," Chapters from NBP Conference Publications, in: Hanna Augustyniak & Jacek Łaszek & Krzysztof Olszewski (ed.), Papers presented during the Narodowy Bank Polski Workshop: Recent trends in the real estate market and its analysis, 2013, chapter 12, pages 39-71, Narodowy Bank Polski.
    3. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 39(3), pages 106-135.
    4. Arvydas Jadevicius, 2014. "The use of combination forecasting approach and its application to regional market analysis," REGION, European Regional Science Association, vol. 1, pages 1-7.
    5. Grażyna Baldowska & Robert Leszczyński & Barbara Myszkowska, 2014. "Convergence and differentiation processes in local markets and structural changes (comparison of 16 markets in Poland)," NBP Working Papers 174, Narodowy Bank Polski.
    6. Bray,Francesca & Coclanis,Peter A. & Fields-Black,Edda L. & Schäfer,Dagmar (ed.), 2015. "Rice," Cambridge Books, Cambridge University Press, number 9781107044395, January.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Doszyń Mariusz & Kokot Sebastian, 2024. "Econometric Modelling of Average Housing Prices in Local Markets and the Price Anchoring Effect," Real Estate Management and Valuation, Sciendo, vol. 32(3), pages 116-126.

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    More about this item

    Keywords

    cointegration; primary market; property prices; real estate; secondary market; Poland;
    All these keywords.

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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