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The Size and the Structure of the Supply of Two–Room Flats in Cracow and Pricing Implications

Author

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  • Piotr Kwapieñ

    (Cracow University of Economics, Faculty of Management, Doctoral Studies)

Abstract

This article presents the results of the research concerning two–room flat supply in Cracow during the period of 2010–2013, with an analysis of their prices, also in terms of forecasting. The analyses were based on own, unique database created using 14,000 real estate advertisements in Cracow on the primary and secondary market. The volume and the structure of the supply (advertisements) were measured using statistical methods. A comparative analysis of Cracow districts was also conducted. It included the number of two–room flats for sale, the density of population, average prices and their range. A trend for a decrease in the price for a square metre of a flat was shown, as well as the difference in pricing and the price range depending on the location of the flat (district and floor). It proved the lack of statistically significant correlation of price and supply which occurred strong only at the level of average values, which describes a market failure.

Suggested Citation

  • Piotr Kwapieñ, 2014. "The Size and the Structure of the Supply of Two–Room Flats in Cracow and Pricing Implications," World of Real Estate Journal (Swiat Nieruchomosci), Fundacja Uniwersytetu Ekonomicznego w Krakowie, issue 90, pages 27-34, December.
    • Handle: RePEc:kra:journl:y:2014:i:90:p:27-34
    DOI: 10.14659/worej.2014.90.04
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    More about this item

    Keywords

    real estate market; investment decisions; comparative analysis;
    All these keywords.

    JEL classification:

    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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