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The Identification of Factors Affecting Offer Prices of Residential Developments in the Area of the Cadastral Unit of Nowa Huta

Author

Listed:
  • Adam Nalepka

    (Uniwersytet Ekonomiczny w Krakowie)

  • Mateusz Tomal

    (Rzeczoznawca Majątkowy)

Abstract

This article is intended to identify factors significantly affecting the bid prices of residential development in the area of the cadastral unit of Nowa Huta in Krakow. Nine variables which could potentially influence these prices are verified. The study uses data from the investments commissioned in the years 2014-2017. The analysis is based on the estimation of two econometric models and the interpretation of their estimated structural parameters. The results show that in the relevant market the greatest impact on prices is exerted by: yardage of the premises, the number of floors in the building, as well as travel time to the center by public transport.

Suggested Citation

  • Adam Nalepka & Mateusz Tomal, 2016. "The Identification of Factors Affecting Offer Prices of Residential Developments in the Area of the Cadastral Unit of Nowa Huta," World of Real Estate Journal (Swiat Nieruchomosci), Fundacja Uniwersytetu Ekonomicznego w Krakowie, issue 96, pages 11-18, June.
    • Handle: RePEc:kra:journl:y:2016:i:96:p:11-18
    DOI: 10.14659/worej.2016.96.02
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    More about this item

    Keywords

    econometric models; real estate market; real estate prices;
    All these keywords.

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • 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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