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The interplay of income growth and housing prices: A decade of real restate dynamics in Poland’s largest cities

Author

Listed:
  • Ryś Michał

    (AGH University of Science and Technology, Krakow, Poland)

  • Ryś Maciej

    (University of Information Technology and Management in Rzeszow, Poland)

Abstract

This study explores the relationship between income growth and housing prices in Poland’s seven largest cities from 2013 to 2024. Through statistical analysis, the research reveals a strong correlation between average gross wages, and both offer and transaction prices in the real estate market, confirming the hypothesis of a relationship between income growth and housing price increases. Despite economic fluctuations, the purchasing power of the average salary in real estate has remained remarkably stable. Moreover, the study introduces Premium and Buying Signal indicators, which can help identify market opportunities for buyers and investors by highlighting periods of undervaluation. These findings underscore and demonstrate the challenges of housing affordability in urban Poland and raise potential questions about the effectiveness of various social policies. The research offers interesting practical insights for policymakers and investors, emphasizing the need for continued monitoring and targeted interventions to ensure sustainable housing affordability.

Suggested Citation

  • Ryś Michał & Ryś Maciej, 2025. "The interplay of income growth and housing prices: A decade of real restate dynamics in Poland’s largest cities," Financial Internet Quarterly (formerly e-Finanse), Sciendo, vol. 21(1), pages 94-104.
    • Handle: RePEc:vrs:finiqu:v:21:y:2025:i:1:p:94-104:n:1007
    DOI: 10.2478/fiqf-2025-0007
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    More about this item

    Keywords

    Housing Affordability; Urban Economics; Income and Housing Prices; Homeownership; Polish Real Estate Market;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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